Business Coaching: The Definitive Guide [2023 Edition]

Are you feeling isolated and struggling to navigate the challenges of female entrepreneurship alone? A business coach could be just what you need to take your business to the next level. This ultimate guide to business coaching has everything you need to know about the benefits of business coaching, how to find the right coach, and how coaching can help you achieve your goals.  

Whether you’re working from home or an office, running a business can be lonely. There’ll be a lot of alone-time, working unsociable hours and putting everything you have into making your vision a reality. It can be hard to find people who genuinely understand what you’re going through. Which is why, if you’re working in isolation without access to expert advice and guidance, working with a business coach will be beneficial.  

So, if you’re a small business owner and you’ve been wondering what a business coach does, why the most successful companies engage a business coach and whether business coaching is for you, this guide will answer your questions.    

But first, in case you’re new to my blog, a very warm welcome and quick introduction. I’m Denyse Whillier, a former CEO turned Strategic Business Coach. I have a deep knowledge of what’s involved in growing and scaling businesses, having led teams of 150+ people and been responsible for overseeing multimillion-pound budgets, multiple workplaces and complex change management projects. 

I led that company through the 2008 economic recession and was able to deliver winning results. It wasn’t easy, but I was fortunate to work with an Executive Coach who helped me to develop the skills I needed to succeed, and I had leadership training from Cranfield School of Management to guide me. 

What is a business coach?  

There’s no shortage of information and advice available online about how to start and grow a business, but all of it is, by nature, generic and not tailored to you and your business. The role of a business coach is to provide personalised advice, tailored to you and your business, to help you navigate problems in the most effective way possible.  

Think of a business coach as a strategic advisor, sounding board and accountability partner rolled into one.

The best business coaches are experienced entrepreneurs who have already run a successful business. For a fee, they work with the business owner to help them hone their vision and core values, set goals and implement action plans to achieve long term success. 

They have two main areas of expertise which they use to help their clients achieve their objectives. Firstly, they understand how to run all kinds of businesses, usually from direct experience, and have the know-how to help you grow your business faster than you would do on your own.  Secondly, they have the soft skills necessary to support you through the ups and downs of growing your company.

It’s this combination of real-life experience coupled with emotional intelligence and communication skills that makes for an expert business coach. Lots of people know all the business theories or have run a great business themselves. But unless they have the soft skills, coupled with the strategic know-how, all the great ideas and strategies in the world won’t help. 

Key areas where a business coach can make a difference  

With business growth comes growing pains.  

You want to bring on more staff, but you’re not sure who to hire - or how to delegate all the things you do to other people. 

You haven’t had the time to create repeatable systems for things like marketing or restocking your inventory. 

You’re wondering how to boost sales and earn more while also working fewer hours. 

And the hardest part?  

Sometimes it feels like the only tool you have is to figure it out by trial and error without ever really knowing what’s the right way forward.  

Business coaching is a process designed to help you overcome these sorts of challenges.  

What are the main benefits of business coaching?  

The whole point of having a business coach is for you and your business to move forward faster than you would do without any help. Coaching should cut down your learning curve, help you avoid costly mistakes and deliver tangible results.  

Here are a few of the benefits of working with an experienced business coach.  

Improved Business Performance: Business coaching can help improve the overall performance of a business by identifying areas that need improvement and developing strategies to address them.  

Enhanced Decision Making: A business coach will provide guidance and support when you need to make tough decisions, leading to better outcomes for your business.  

Increased Accountability: A coach will help you to stay accountable to your goals and actions, ensuring that you are motivated and stay on track.  

Enhanced Leadership Skills: Business coaching helps business owners to develop their leadership skills, leading to better management of teams and increased employee engagement.  

Personal and Professional Growth: Coaching can help small business owners to grow personally and professionally by improving communication, increasing self-awareness, and identifying and addressing limiting beliefs.  

What types of businesses benefit from coaching?  

There’s a common misperception that business coaching is for struggling businesses. While a business coach can certainly help a faltering business get back on the right track, business coaching can benefit a wide range of businesses, regardless of their size or industry.

• Startups: Business coaching can be particularly helpful for startups, as they often face unique challenges such as developing a business plan, securing funding, and building a team.  

• Small Businesses: Small businesses can benefit from coaching to improve their performance, increase revenue and profitability, and develop their leadership and management capabilities.  

• Mid-sized Businesses: Mid-sized businesses can benefit from coaching to develop growth strategies, improve operations, and navigate complex business environments.  

• Large Companies: Large companies particularly benefit from coaching when they're undergoing major organisational changes or dealing with complex management issues.   

What areas of my business will a coach help with?  

The purpose of having a small business coach is for you and your business to move forward faster than you would do otherwise. Business coaching should cut down your learning curve, help you avoid mistakes which cost you time and/ or money, and of course help you to achieve business success. 

An experienced business coach will help you develop both hard and soft skills. Let’s explore these in more detail. 

Hard Business Skills  

Strategic Planning and Review 

The best business coaches are experienced business strategists, able to help you and your team to devise and implement a roadmap using a step-by-step strategic planning process to bridge the gap between where you are and where you want to be in order that you achieve your short-term and long-term goals.  

Sales 

A business coach will help you improve your sales skills by providing guidance on techniques for prospecting, lead generation, and closing deals. They can also help you to identify and overcome any obstacles that may be hindering your sales performance as well as develop strategies for improving customer relationships and increasing customer loyalty.  

Marketing

Business coaching will help you to improve your marketing skills by providing guidance on the right marketing strategies for your business. A coach can also help you to tailor your messaging and branding to your target audience, provide feedback on marketing materials such as website copy, social media posts and advertising and create effective promotional campaigns.  

Financial Management

A business coach will help you develop a budgeting and forecasting process to help you to plan for growth. This may include identifying key revenue and expense drivers, using a cash flow forecast to guide decision making, and implementing a budgeting process that supports your long-term business goals.  

Management

As your business grows, you’ll have to hire and supervise a team of people. Working with a coach will help you develop the skills you will need to delegate, inspire and lead your team effectively, and make informed decisions that will deliver business success.   

Soft Business Skills  

Self-awareness 

Business coaching is a powerful tool for helping small business owners to develop greater self-awareness. Through a process of reflection and feedback, you will gain a deeper understanding of yourself, your behaviours, and the habits that may be holding you back. This may involve asking difficult questions, encouraging self-exploration, and helping you to identify your strengths and weaknesses.  

Self-regulation 

Running a business can be stressful and our emotions can sometimes spin out of control. An experienced business coach will help you identify the specific triggers that cause you to experience negative emotions or engage in unproductive behaviours and then develop strategies for managing your responses.  

Confidence 

Business coaching can have a significant impact on your self-esteem and confidence by providing you with tools and strategies to successfully achieve your goals, manage your emotions, and build a stronger sense of self-efficacy.  By breaking down larger goals into smaller, more manageable tasks, a coach will help you build a sense of momentum and accomplishment, which in turn will boost your confidence.  

Optimism 

We all have good days and bad but when we’re running a business, the effects are magnified. Optimism is self-generated and the trick to staying positive is not to get too distracted by external events you can’t control and to double down and focus on the things that you can. Business coaching will help you be more optimistic by providing you with strategies to reframe negative situations and focus on positive outcomes.  

What's the difference between business coaching and consulting?  

While business coaching and consulting are both focused on helping businesses achieve long term success, there are some important differences between the two approaches:  

Approach: Consultants tend to take a more directive approach, offering specific solutions and recommendations based on their area of expertise. Coaches, on the other hand, take a more collaborative approach, working with clients, helping the business owner to identify their own solutions and strategies.  

Focus: Consulting tends to focus on specific projects or issues, such as developing a marketing plan or improving operational efficiency. Coaching, on the other hand, focuses on the overall development of the business and its leadership.  

Timeframe: Consulting is often a short-term engagement, with a specific deliverable or outcome Coaching, on the other hand, is often a longer-term engagement focused on personal and professional development.  

Expertise: Consultants are typically hired for their specialised expertise in an area such as finance, marketing, or operations. Coaches, on the other hand, have a more general business background and focus on developing the client's own skills and abilities.  

What qualifications does a business coach need?  

Because there are no formal qualifications required to be a business coach, here are some thoughts about how to choose the best business coach for you. Make sure the business coach you choose checks these boxes.

Education and Certification 

It's important to do your research and choose a coach who has the right qualifications and experience for your business. Look for a business coach who has completed formal education in business, coaching, or a related field. Additionally, certifications from a recognised coaching organisation will demonstrate your coach's commitment to their ongoing professional development.    

Relevant Business Experience 

A business coach should have a strong background in business, with experience in management, leadership, or entrepreneurship. This means your coach can provide relevant insights and advice based on real-world experience, tailored to your circumstances.  

Coaching Experience 

Look for a coach with significant experience of working with different clients. Coaching is a skill that requires practice, so a coach who has worked with a variety of clients can bring a wealth of experience to the table.  

Good Communication Skills 

A business coach should have excellent communication skills, including active listening, effective questioning, and the ability to provide constructive feedback.  

Strong Ethics and Values 

Look for a coach who operates with integrity and adheres to ethical standards and whose core values and beliefs align with your own. 

How to choose the right business coach for you?  

Choosing the right business coach for you is an important decision. It’s a big investment of your money, and more importantly, the best coaches will have a huge impact on your business.  

Read: How To Choose The Right Business Coach For You.  

How to get started with business coaching

Business coaching should be a valuable investment in your business and personal development. Here are some tips to help you get started:  

Identify Your Goals: Before you start looking for a coach, take some time to identify your business goals and the areas you want to improve. This will help you find a coach who can provide the right guidance and support.  

Schedule an Initial Consultation: Look for coaches who have experience working with businesses like yours and who have a track record of success. Then schedule an initial consultation to discuss your goals and needs. This will help you determine if the coach is a good fit for you.  

Agree a Coaching Plan and Expectations: After the initial consultation, work with your coach to create a coaching plan that outlines your goals, timelines, and expectations. This will ensure that you are both on the same page and working towards the same objectives.  

Stay Committed: Coaching requires a commitment from both you and your coach. Make sure you are willing to put in the time and effort required to achieve your goals and open to feedback and guidance. 

My business coaching experience

I worked in senior management and leadership positions for 25 years, 8 of which were as a Chief Executive. I trained in strategic planning at Cranfield School of Management and have a Diploma in Management Studies from London’s South Bank University. 

I subsequently trained with The Institute of Enterprise and Entrepreneurs, the UK's only dedicated learning institute providing recognition, accreditation and qualifications in enterprise learning. I have been working as a strategic business coach and consultant for the past 10 years and worked with clients in more than 50 industries.

The mission of my business coaching services is to help female founders to achieve exponential growth and close the gender gap in business. I specialise in working with purpose-led female founders for whom purpose, and values are a strategic driving force. 

I believe that a people and planet approach to business is not only the right thing to do, but the only way of achieving long-term commercial success. A new way of doing business is emerging – one that is purposeful, ethical and sustainable - and female founders are at the forefront of this change.

Responsible business practices are important to me and my consultancy is signed up to the Good Business Charter, an accreditation in recognition of responsible business practices, and we are working towards becoming a B Corporation. 

Over to you 

I really hope you enjoyed my complete guide to business coaching. 

Now I’d like to hear from you. Have you ever hired a business coach and did this deliver the business success you were looking for? 

Let me know your experience by leaving a comment below right now. 

---