How to get the most out of a business coach

A willingness to change is essential for entrepreneurs to get the most out of a business coach

9-minute read

Business coaching is a personalized service that can help develop leadership and business skills and solve specific challenges at your company.

It can help you solve a stubborn challenge or take your company to the next level. While a business coach won’t make decisions for you or tell you what to do, the person can act as a sounding board for your thoughts and offer an external perspective on a wide range of business issues.

As the person receiving business coaching, the process can help you better understand yourself and learn to become a better leader.

You’re not trying to be the best leader of today’s company; you’re preparing to be the best leader of tomorrow’s company. Business coaching can help you do that.

What is business coaching?

Business coaching is a personalized service that can help develop leadership and business skills and solve specific challenges at your company.

As the person receiving business coaching, the process can help you better understand yourself and learn to become a better leader.

How can a business coach help me?

One of the biggest signs you could benefit from a coach is simply a desire for an external perspective on your business.

“Entrepreneurs are very much alone in many ways,” says Michelle Feder, Director, Financial Planning and Human Resources, BDC Advisory Services. “They shoulder a great deal of responsibility, and they’re not always well connected with others who can understand what they’re dealing with.”

She says a coach can often help just by being someone who can understand and validate your experiences.

Other common reasons you might want to work with a coach include a need to:

strengthen your leadership skills
improve or enhance your business culture
look at what’s holding you back from taking your business to the next level
tackle a specific problem in your business that you can’t seem to solve
turn things around if your business is facing a crisis

Glenn Yonemitsu, Managing Director, High-Impact Firms at BDC Advisory Services, says business coaching helps a leader see what’s coming.

“A good leader is always looking forward,” he says. “So, you’re not trying to be the best leader of today’s company; you’re preparing to be the best leader of tomorrow’s company. Business coaching can help you do that.”

How to find a business coach

To find a coach, you can start by consulting a coaching association or directory, or you can ask your own network for a referral. BDC also offers a variety of coaching and advisory services, where you can connect with an expert coach.

Yonemitsu recommends meeting with a new coach a few times before you make a long-term commitment.

“I often see better results when the mentee and mentor have thoughtfully chosen their own relationship,” he says. “Having one assigned or just signing on with the first one you meet, without establishing the right fit, isn’t conducive to building the kind of relationship you need for successful coaching.”

What qualifies someone to be a business coach?

Because the coach-mentee relationship is so important, Yonemitsu says finding a good fit is vital.

“If you don’t like and respect your coach, you’re not going to be receptive when they tell you something you don’t want to hear—which they inevitably will.”

On that note, you should expect a coach to have the courage to tackle sensitive issues and be honest and direct about topics that might be difficult to discuss, including areas where your own actions might be making a situation worse.

Feder and Yonemitsu stress that you should look for a coach who has strong listening skills. They say the goal of coaching is to help you come to your own conclusions about how to proceed. They suggest looking for someone who can really listen to what you have to say and ask the questions that will lead you to your decision, rather than someone who will just tell you what they think.

Experience is another asset to look for in a coach, especially if the coach has learned from that experience.

Feder says it’s often helpful if your coach’s experience comes from a different industry than yours.

“One of the biggest misconceptions is that you need a coach with expertise in your line of work,” she says. “But you don’t need an expert in your business. You’re the expert in your business.”

Hiring a coach from a different industry means you get a fresh perspective that isn’t beholden to conventional ideas. This can open up avenues of opportunity and innovation that could be just what your business needs.

Yonemitsu says a coach having formal credentials can be valuable, but it shouldn’t be your only consideration.

“If someone has all the other qualities you’re looking for, I wouldn’t discount them just because they’re not certified.”

What does business coaching involve?

Coaching mandates vary, but they usually start with a frank discussion of your situation and needs. From there, you’ll work together to identify your goals and develop action plans to achieve them.

Your work with a coach will generally involve regular meetings over a period that can range from a few months to a few years, depending on your goals. Most coaches will also expect you to dedicate additional time outside meetings to reflect or complete “homework” that might arise from a discussion.

In some cases, and usually only if you specifically ask for it, a coach may provide explicit advice or guidance. But most of the time, your discussions will involve your coach asking questions or suggesting things you might want to consider, so that you arrive at your own answers.

How can I get the most out of business coaching?

Feder and Yonemitsu offer these tips for making sure your coaching experience is as valuable as possible:

Keep an open mind. Coaching can enhance nearly every aspect of your business, but only if you’re prepared to consider all that can come up. The more areas of your business that are “off-limits,” the more challenges that will remain unsolved.
Commit to it. Coaching involves real, focused work that can’t be treated as an afterthought. Be prepared to dedicate and prioritize the time and resources required.
Offer it to others. Coaching is often thought of as a CEO activity, but anyone in a leadership position can benefit from it.

What kinds of coaching does BDC offer?

BDC offers two primary coaching streams: BDC small business coaching and executive coaching.

BDC small business coaching

BDC’s small business coaching is a hybrid model that combines coaching with consulting services that help you meet your business goals. With this model, you get more direct advice than with a pure coaching model, but it’s still up to you to make all final decisions. This type of coaching is usually best suited for small and medium-sized enterprises.

Case study: Small business coaching

Evan McLaughlin, CEO of Column and Joist, a small construction company in Scarborough, Ontario, wanted to expand the company beyond its one employee, himself.

With a lot of competing ideas in his head, he decided to engage a BDC coach for planning on both a strategic, and sales and marketing level.

The sessions helped him identify his key differentiators, narrow his focus and tailor his marketing strategy.

After his work with a BDC coach, McLaughlin’s revenues grew and are now 10 times greater than when he began the exercise. He also now has five full-time employees.

McLaughlin’s company is now well-positioned in its market, delivering high-quality, environmentally responsible construction and renovation projects. He praises his sessions for how they helped him personally as a CEO.

“My coach helped me realize that who I am and what I value have an impact on my business and goals.”

BDC executive coaching

BDC’s executive coaching is intended primarily for larger businesses, and is offered through the Growth Driver Program, a guided journey to help businesses reach the next level. This program offers a pure coaching model focused entirely on leadership development.

Case study: Executive coaching

A textiles company on the brink of insolvency engaged with the Growth Driver Program to try and turn the company around. One of the company’s biggest challenges was keeping staff motivated and engaged.

Through the coaching he received, the CEO learned how to maintain positivity among staff, in part by setting short-term milestones and celebrating every win, no matter how small.

Yonemitsu, who was the executive coach for the project, says his focus was always on the leader. “Especially in a turnaround, it’s the leader who needs to keep spirits high for the rest of the team. Leadership is important in any turnaround, no matter the industry.”

With support from BDC, the CEO managed to retain his staff, improve relationships with suppliers and other creditors, and make the business profitable again. His efforts were so successful that he was able to sell the company at a large enough profit to retire comfortably.

“In a crisis like this company was facing, leadership is more important than ever,” says Yonemitsu. “That’s what keeps employees optimistic and on board and what makes it possible to move forward.”

Find out how coaching can enhance your business

Learn more about our advisory services, including the Growth Driver Program.