When you hear stories of people who climbed the ladder and became entrepreneurs, there is almost always mention of a mentor, coach or role model who helped guide their path to success. Many entrepreneurs seek help from success coaches who trained in helping people reach their full potential, but the results of this coaching are mixed.
Not every success coach has the experience or knowledge necessary to offer helpful guidance to you, so it’s essential that you look for some key characteristics when you’re choosing your coach:
- See if your ideologies align: Every individual is different and not all success coaches will have ideologies and values that align with yours. Interview potential coaches and ask them to talk about their philosophy when it comes to coaching. You should find out about their expertise, what their specific talents are and whether they have helped entrepreneurs with goals and circumstances similar to your own.
- Understand their approach: Coaching isn’t simply about gleaning information from someone with more experience than you. Rather, it involves a partnership between you and a coach that requires commitment and trust. Before you begin coaching, you must understand what you can expect from your coach and what your coach will expect from you.
- Gauge their expertise: Just because a coach is successful doesn’t mean they have the expertise necessary to help you reach your goals. Ask your prospective coach to tell you about their background, education and experience with coaching. When you’re trying to gauge the success of a coach, think about where they started and where they are now. Get as much perspective as you can so you can determine if they are the right coach for you.
- Assess their qualifications: Simply being successful does not automatically qualify someone to be a success coach. while you’re learning about the background and experience of your coach, ask what specific qualifications they have related to mentorship and coaching. The experience a person has had in leadership roles or directly in coaching are good indicators of whether they will be a good coach.
- Look at their business model: Depending on where you find your coach and what kind of coaching program or service you use, there will be a different compensation structure in place. It’s important to consider how a coach is compensated, since this might influence how and when you interact with them. If you need help from a coach on a regular basis, it might be better to choose one that charges a retainer fee. If you only need occasional service from a coach, an hourly fee structure might be better for you.
- Set your expectations: Ask a coach point-blank what you can expect from working with them. A coach should be able to provide you with a clear set of expectations regarding your continued success and return on investment. While you should avoid hiring a coach who makes outlandish claims about the value of their service, it’s important that you have some assurance that your time and money will be well-spent on coaching.
While you’re looking for a coach, don’t expect the first one you interview to be right for you. Take the time to properly vet all of the coaches you are considering so that you can ensure the best outcomes possible from success coaching.
Content was prepared by an independent journalist under the direction of Molly Grubb AIF®, CBEC®. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of any subjects discussed. A professional advisor should be consulted before any investment decisions are made. All expressions of opinion reflect the judgment of the author on the date of post and are subject to change.
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