The past few years have witnessed a rapid growth of business coaching. Especially in developed countries like the U.S., people are increasingly realizing the value of strategic business coaching. As a result, business coaching has become a booming service sector, which is set to continue to be so in the future. Thus, there are increasing numbers of business owners who have benefited strategically from their business coaches. Some of the strategic benefits that a business coach provides his or her clients are:
Clear vision and focus to set future goals for the business.
Help to set up a defined set of objectives and goals, along with a strategic action plan to achieve them.
There is constant support and assurance of commitment from the coach.
Help to adopt a proactive approach towards evaluating problems and resolving them, and acting upon the opportunities as they occur.
Business coaches help their clients to develop an improved decision-making procedure.
A business coach also is a trusted confidante, advisor, and an enlightened guide.
Business coaches focus most on improving the financial performance of the business.
The main method that a good business coach follows is not to work in your business but on your business.
They also help the entrepreneurs to improve their customer service system so that more clients can be attracted.
A business coach focuses on the main weak points, and works with the business owner to remove them, so that there is an increase in productivity.
Plus, a business coach sees to it that his/her client develops strategic thinking capabilities, and helps them to improve their capacity to deal with the ever changing business world.
The above mentioned are only some of the many benefits that have made business coaching popular in recent times. Yet there are critics who dismiss business coaching as just a fad that will not last long. However, surveys and figures prove that business coaching is here to stay. In fact, it has been demonstrated time and again that business coaching is one of the most effective ways to sharpen ones professional edge over others. This is backed by a recent survey done by Fast Company Magazine which found that up to 40% of Fortune 500 companies hire business coaches to improve their businesses. Being hard-nosed entrepreneurs, they would not be hiring them if they did not get good returns on their investment.
Some critics even argue that business coaching is not upgrading itself with the changing standards of the business world. In other words, they are giving the same outdated training, using the same tools and equipment that are a decade old. But that is not true, because professional business coaches conduct and attend seminars where the main focus is on futuristic methods of coaching.
There have been considerable discoveries and innovations in the field of business coaching as well, like the Core Dynamic model or the WaveMaker coaching practices. These work on eliminating the restrictions people put on themselves, so that they become capable of solving problems by themselves. Hence, considering all the above advantages, combined with the most cutting-edge business coaching techniques, it can be said that business coaching is here to stay.