By Kimberly Stevens, NPI, Inc.’s Marketing & Business Coach

News flash: entrepreneurship is growing, and it doesn’t look like the trend is stopping anytime soon.

According to contributors at Entrepreneur, the United States is predicted to have a freelance-majority workforce by 2027 with gigs and “side hustles” rising in popularity. Many are more interested than ever in the idea of being their own boss, but going into business alone doesn’t have to mean going without any support.

Growing hand-in-hand with the rise of entrepreneurship, the coaching industry has also seen a massive rise with many professionals entering the field. Coaches can be great resources for business owners who are just starting out, or for those who are looking to break through to the next level. The one problem is that finding the right coach can be an intimidating task.

To better understand how to navigate the world of business coaching today, let’s discuss how coaches can help, how to identify the right one, and what business owners should do to get the most out of their coaching experience!

The Value of Coaching

Small business owners, entrepreneurs, and other professionals who are looking to elevate their performance can sometimes feel like they’ve hit a wall in their development. Maybe they’ve started a new position or launched a new business and they’re struggling to gain traction. Alternatively, maybe they’re operating an already successful business and they’re searching for help taking that next step. Whatever the case, coaching can often be an effective way to achieve those lofty business goals.

Trained and certified coaches help entrepreneurs in many ways, but one of the biggest benefits they provide is how they identify blind spots. Everyone has their strengths and their weaknesses, but sometimes it can be difficult to isolate which characteristics have turned into hurdles for personal or professional growth. Introspection is a tough thing to do, but a good coach can make this process easy, productive, and even enjoyable.

Coaches are also pros when it comes to drafting a concrete plan for progress, whether that’s while discussing interpersonal skills or business leadership qualities. Identifying ways to grow, building a plan, and providing accountability for that plan – these are all ways that coaching can come in handy.

In short, coaching can be a great catalyst for growth and a strong strategy for small business owners to realize their potential. However, it’s important to note that not every coach is a match for every need. Without expectations set ahead of time, coaching can actually be a major drain on time and money. Before finding a coach, entrepreneurs need a plan.

Finding the Right Coach

Since the coaching industry has grown so much in recent years, there are more freelance coaches available than ever before–and that isn’t necessarily a good thing. Some coaches lack essential experience, lack credentials, and are plain unqualified to provide actionable coaching. With this in mind, it’s important to be selective when choosing who to work with.

There are many different types of coaches, but for the purposes of this article, let’s sort them into the categories of health and life coaches, business coaches, and specialized business coaches. While some credible coaches may not identify themselves with any of these terms, almost every coach fits into one of these broad categories:

• Health and Life Coaches are fantastic at identifying blindspots and crafting self-improvement plans as discussed in the previous section. Everyone can benefit from this first level of coaching, as long as the coach has some kind of valid certification or training.
  
  However, these coaches often won’t have the background or expertise needed to advise on business growth. Because of this, business owners and entrepreneurs are better off looking to the next group of coaches for advice.
  
  
• Business Coaches or Business Development Coaches can often provide all of the same “generalist” coaching that health and life coaches provide, but their previous experience in the corporate world or with running their own businesses allows them to advise on business-related concerns.
  
  Beyond just when to hire (one of the most common things discussed with business coaches!), business coaches may advise on how to lead a team, how to market, how to run financials, and how to set up an exit plan. Business development coaches will have the background required to be a sounding board on these more nuanced topics.
  
  
• Specialized Business Coaches are another step beyond the generalist business coach, and their advice will vary depending on the needs of the business owner. If the business owner needs a lot of guidance on finances, then they might look for a coach who specializes in accounting. If the business owner needs advice on how to market business-to-business, then they might look for a B2B marketing coach.
  
  The more a business owner can get their coach’s specializations to fall in line with their needs and their industry, the more valuable their coaching experience will be. The right time to hire isn’t universal across industries, and different audiences react to marketing strategies in different ways. Business owners who find coaches with a track record that is uniquely relevant to their situation will see their coaching pay dividends.
  

Franchise Coaching at National Property Inspections

At NPI, we know how powerful coaching is. That’s why each franchisee works with our Coaching Team one-on-one after launching their new business, when hiring their first employee, as they transition to sell, and during every other step along the way. Finding success and stability in the business is one thing, but our coaches encourage our franchisees to work on their business, rather than just in their business.

Our coaches are particularly suited to help franchise owners within the property inspection industry due to their extensive background and knowledge working in this field specifically. They’ve seen which marketing initiatives work and which ones don’t so that new owners don’t have to waste their time, money, and energy experimenting that won’t be fruitful.

At the same time, every region and market will have its own unique nuances that may present its own challenges and opportunities. The Coaching Team at NPI is a constant resource to help our franchisees overcome hurdles, access new referral sources, implement ancillary services, seek self improvement, and much more! It’s thanks to our coaches’ unique training and experience that they are so well suited to assist our franchisees. For any entrepreneur to meet their goals, coaching that is similarly specialized is absolutely crucial.

Getting the Most Out of Your Coach

After identifying a coach with the right specialized experience and skills, business owners still need to make sure they get what they need out of their coaching. The more specialized and experienced a coach is, the more they often cost for their time. This is why it is so important to start with an open dialogue about coaching styles and communication preferences.

DISC assessments are one way to learn about one’s personal communication style, as well as how they relate to those of different communication styles. By starting off with an exercise like this, entrepreneurs and coaches can get a better idea if they need to adjust how they’ll work with one another, or if they’re better off looking for a different partner. Coaches can often develop their favored coaching style and, sometimes, people just don’t connect like they hoped. It’s good to get this out of the way early in order to hit the ground running!

Once a good coach has been chosen and there’s some confidence that communication styles will mesh well, it’s absolutely essential to set a specific goal. Many entrepreneurs can find themselves stuck in coaching limbo, maybe enjoying their time chatting and collaborating with their coach, but without a destination in mind they’re ultimately inefficient with their money.

A specific, measurable goal agreed upon by the coach and the client is absolutely essential to ensure they get their ROI. Coaching is valuable, when the right expectations are set and a plan is put into place well in advance. The success of any entrepreneur’s business is ultimately up to them, but coaching is one of a few areas to find support.

National Property Inspections strategically pairs franchisees with franchise business development coaches so that they can achieve their long-term growth goals! Learn more about franchising with NPI today.