Thursday, 16 July 2020 22:25

10 Benefits of Participating in Business Coaching Programs

The overwhelming majority of businesses in the United States—approximately 99.9%—are considered small businesses (with 500 employees or less). According to data from the U.S. Bureau of Labor Statistics, as many as 20% of those small businesses fail within the first two years, 45% within the first five, and 65% within the first ten. Clearly, running a business isn’t easy. Business coaching programs can help you avoid common mistakes and learn to set systems in place that lead to long-term, sustainable growth. Here are 10 reasons to consider participating in a business coaching program in Denver. 

1. An outside perspective

As a business owner or entrepreneur, you’re too close to your business to objectively assess its strengths and weaknesses. Sometimes it helps to take off the rose-tinted glasses and analyze your business from a new point of view. A business coaching program can give you the outside perspective you need to take your business from good to great. 

2. Grow your network

You’ve heard it a million times; “it’s not what you know, it’s who you know.” And in today’s business world, this statement still rings true (and probably will for years to come). Participating in a business coaching program will surround you with other like-minded professionals who can offer advice, serve as a sounding board, and help build your business. 

3. Increased self-confidence

Running a business is a lot of pressure. From time to time, you’ve probably second-guessed yourself on difficult decisions. Or maybe you struggle to talk to mid- and lower-level managers about your true concerns. Business coaches can help instill the confidence you need to successfully problem-solve and address your challenges head-on.

4. Achieve a better work-life balance

Many small business owners feel chained to their business—like things won’t run well unless they’re there. This can quickly lead to long hours and overwhelming feelings of stress. Effective business coaching programs can equip you with the tools and knowledge you need to achieve a better balance between your career and your personal life. 

5. Empower the people around you

Every business owner wants employees who take ownership of their projects. But that’s often easier said than done. A business coach can give you the skillset you need to empower the people around you so they can make sound decisions for your company on their own.

6. Lean processes and protocols to achieve long-term growth

The processes and protocols you have in place can make or break your company. But a trial-and-error approach is often a time-consuming (and expensive) way to find out what works and what doesn’t at your company. Business coaches have developed fool-proof workflow systems to identify bottlenecks in your work processes and streamline your efficiencies. With these new processes in place, your business will be on the right track to achieve long-term, sustainable growth.

7. More accountability 

As a business owner, you obviously understand the importance of goal-setting. But because it’s easy to get busy with the day-to-day operations of your business, it can be difficult to focus on your long-term, bigger picture goals. When you work with a business coach, you can discuss these goals in-depth and they’ll help hold you accountable and provide benchmarks to ensure you’re staying on target with your goals.

8. Identify problem areas and solutions to address them

Business coaching often starts with an initial evaluation. During this stage, your business coach will identify the areas of your business that are underperforming. The best part? In addition to gaining this knowledge, you will also receive personalized solutions to address those problems. 

9. You’ll make more money

Here at Portocol, our clients grow their revenue 3-10 times on average after completing a business coaching program. That’s a significant difference for any small business! Through our realistic recommendations, you’ll be on your way to increasing profit in no time.

10. You get unbiased advice

When you need advice, it’s tempting to turn to spouses, friends, or family members. But as much as they may want to help, those that are closest to you can’t give unbiased advice. A business coach can. Your coach will develop solutions that people close to your business will often overlook.

Leverage Our Denver business coaching programs 

If you’re interested in participating in a Denver business coaching program, contact us at Portocol Business Strategies. We offer four different and highly specialized programs including (1) executive coaching, (2) management training, (3) business consulting, and (4) CEO council. 

We have 40+ years of experience working with businesses across virtually every industry. And on average, our clients scale their business by 3-10 times thanks to our training and professional advice. 

Contact us today to learn more about our one-of-a-kind business coaching programs.