Business Coaching 101 – What is a business coach?

Show Notes

America’s #1 Business Coach, Clay Clark, explains what a business coach is, why you need a business coach and how to choose the best business coach.

Business Coach | Ask Clay & Z Anything

Audio Transcription

Business Coach 347

3. Increase profits a sustainable way

“This isn’t something that “hard work” alone is going to solve. Blindly working hard is part of the problem. The more your growth is based on your personal production, the more dependent your business becomes on you for that production. You’ve got to make sure that even in the midst of meeting the daily demands of your business, you take some of your energy and invest in the systems, team, and internal controls that will allow you to scale your business beyond just you.” – Jeff Hoffman and David Finkel – Why the Best Way to Do Your Job Is Not Doing the Job – Inc. Magazine

4. Learn how to systematically add value to your business

The difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next. The difference between the two is living fully and just existing.” – Michael Gerber (Best selling author the E- Myth)

5. Build a business that really works. without you and for you.

“All businesses start at Level One (start”ups), feeling their way forward to launch their new venture. Those that survive reach Level Two (owner reliant). It’s here that most companies get stuck. A Level Two business is a business that works, but only because you, the business owner, are there every day to make it work. You make most of the decisions. You generate most of the business. You meet with all the key clients and perform most of the important work of the business. You stay in full control. Sure, you have people to help, but they’re there to do just that–help–not to lead or take ownership of central parts of your business. The core knowledge of how to manage and direct the business is locked up in your head, and if something should hap” pen to you, your business would crumble. Even if you manage to somehow escape for a short vacation, you probably sneak your iPad or smart phone with you on the trip and check e”mail when your family isn’t looking.” – Jeff Hoffman and David Finkel – Why the Best Way to Do Your Job Is Not Doing the Job – Inc. Magazine

How did you get started coaching?

Story

1. Built DJConnection.com, Party Perfect Rentals, The Bridal Show, Epic Photography.

Oral Roberts University Dorm Room to 4,000 special events per year, www.TheTulsaWeddingShow.com, PartyProRents.com, EpicPhotos.com

2. Received awards and discovered that businesses are more similar than they are different.

U.S. Chamber National Blue Ribbon Quality Award Winner, TheKnot.com Best of the Best Wedding Videos, U.S. SBA Entrepreneur of the Year, Fastest Growing 40 Companies in Oklahoma – Journal Record

3. People began asking me to coach them.

Lawyers, Dentists, Mortgages, Sod Farms, Basketball Coaches, Commercial Real Estate – Fears and Clark – Represented over 30% of downtown Tulsa – http://www.tulsaworld.com/business/realestate/kanbar- rallies-efforts-for-downtown-goals/article_fe7ad295- 710f-51bd-83de-cea1d047b5f9.html, http://www.newson6.com/story/13449321/kanbar- properties

What does a business coaching relationship look like?

Coaching is a form of development in which a person called a coach supports a learner or client in achieving a specific personal or professional goal.

Quote – “Face reality as it is, not as it was or as you wish it to be.” – Jack Welch (Former CEO of GE who grew the company by over 4,000%)

1. It starts with a free sessions with a coach who do an in depth comprehensive analysis of your business

“You are the average of the five people you spend the most time with.” – Jim Rohn (Best selling author and renowned speaker)

2. You’ll discover your biggest limiting factors and temporary road blocks

“A person’s success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have.” – Tim Ferris (Best selling author of the Four Hour Work Week and investor)

3. Your coach will then help you to create and prioritize the action steps you need to take to find and solve the core problems that are creating your on-going frustrations.

“What gets measured gets done.” – Gino Wickman (Best selling author of Traction: Get a Grip on Your Business)

4. Your goal will work with you to set three year goals by creating a vision for what you want your life and your business to look like in an ideal scenario.

“Don’t mistake activity for productivity.” – Gino Wickman (Best selling author of Traction: Get a Grip on Your Business)

5. Your coach will hold you accountable to executing your action steps and your daily key performance indicators.

“You’ve got to eat while you dream. You’ve got to deliver on short-range commitments, while you develop a long-range strategy and vision and implement it. The success of doing both. Walking and chewing gum if you will. Getting it done in the short-range, and delivering a long-range plan, and executing on that.” – Jack Welch (Former CEO of GE who grew the company by 4,000%)

6. Your coach your verify that you are incrementally working on your business and not just in it.

How is business coaching different from mentoring?

1. Coaching differs from mentoring in focusing on specific tasks or objectives, as opposed to general goals or overall development.

Clifton Taulbert = Mentor, My accountant = Coach

2. Business Coaching is very similar to athletic coaching. In baseketball or football a coach pushes an athlete to achieve optimum performance, provides support when they are exhausted and teaches the athlete to execute plays that their competition does not anticipate.

From a business coach’s perspective, what does a healthy business look like?

1. A healthy business involves great people, making great products and services while producing a consistent profit.

2. A healthy business serves the needs of the owner and allows them to have time freedom, financial freedom and the joy of pursuing their passion.

3. A great business is reliant upon business systems and not people.

As a business coach, what are the speccific steps that you take business owners through?

1. Define Niche and Core Differentiator (What Seth Godin calls the Purple Cow) – Your business coach will work with you to help you discover what makes your business special and stand out from your competition

2. Financial Goal Setting – Your business coach will help you build a financial model that will allow your accounting systems to serve as a compass for your business and not a rear view mirror. Must create a proforma to help you accurately predict and project your break-even point, your goal achievement point, your profit per customer and the number of customers you need to achieve your goals.

3. Management / Human Resources – A Thrive15.com business coach will help you to build a proven process to help you hire, inspire and train the right people to create the right business culture.

4. Product and Service Delivery – Your business coach will help you to design a duplicable and scalable system that consistently wows your ideal and likely buyers.

5. Systematic Sales – Your business coach will help you to design a systemic sales process that will produce predicatable and consistent sales.

6. Make an emotional connection with your most probable customers

7. Free yourself from tactical work and lead from your values and by example

What are origins of business coaching?

The first use of the term coaching to mean an instructor or trainer arose around 1830 in Oxford University slang for a tutor who “carries” a student through an exam.[3] Coaching thus has been used in language to describe the process used to transport people from where they are to where they want to be. The first use of the term in relation to sports came in 1861.[3]

Tell me about the path to success that Thrive15’s business coaches will lead entrepreneurs through.

Thousands of video courses

Unlimited access to Thrive15.com workshops

Downloadable templates
Graphic design / web development

Weekly coaching calls

The 8 Benefits of a Business Coach

1. Business coaches provide you with a faster and less expensive way to achieve success
2. Business coaches provide you with candid and honest feedback backed by years of experience

3. Business coaches teach you how to dramatically increase your sales

4. Business coaches teach you how to significantly cut your costs, Having someone to bounce your ideas off can be a truly valuable thing

5. Business coaches help you to become a more efficient time manager

“I think the most important thing about coaching is that you have to have a sense of confidence about what you’re doing. You have to be a salesman, and you have to get your players, particularly your leaders, to believe in what you’re trying to accomplish on the basketball floor.” – Phil Jackson (Winner of 11 NBA titles as a coach – 5 with the Lakers and 6 with the Bulls)

Fun Fact: Without Phil Jackson, neither Kobe Bryant nor Michael Jordan was able to win an NBA Championship

www.OXIFresh.com | Jonathan Barnett

www.EITRLounge.com | Justin Moore Story: www.EpicPhotos.com | Clay Clark

“You’re either a Purple Cow or you’re not. You’re either remarkable or invisible.” – Seth Godin (The Purple Cow – Best selling author and renowned marketing expert)

“Discipline is the bridge between goals and accomplishment.” – Jim Rohn (Best selling author)

“The ability to deal with people is as purchasable a commodity as sugar or coffee and I will pay more for that ability than for any other under the sun.” – John D. Rockefeller (A man who grew up poor and who went on to become the world’s wealthiest man)

Barbee Cookies

O’Reilly Auto Parts, Maytag, Hewlett Packard Example: Apple, Starbucks, Trader Joe’s

“Most entrepreneurs are merely technicians with an entrepreneurial seizure. Most entrepreneurs fail because you are working IN your business rather than ON your business.” – Michael Gerber (Best selling author of the E-Myth book series)

FUN FACT: The University of Oxford (informally Oxford University or simply Oxford) is a collegiate research university located in Oxford, England, United Kingdom. While having no known date of foundation, there is evidence of teaching as far back as 1096,

“Education is what remains after one has forgotten what one has learned in school.” – Albert Einstein (Famous scientist)

“It is absurd that American classrooms are still based on teachers standing at a board and using textbooks. All books, learning materials and assessments should be digital and interactive, tailored to each student and providing feedback real-time.” – Steve Jobs (Co- founder of Apple and former CEO of PIXAR)

“No one lives long enough to learn everything they need to learn starting from
scratch. To be successful, we absolutely, positively have to find people who

have already paid the price to learn the things that we need to learn to achieve
our goals.” – Brian Tracy (Best selling author and renowned speaker)

Jason Stewart and the team Garth Brooks, etc.

Most business owners say this is the first time in their life that they have ever worked on their business and not just in it

NOTABLE QUOTABLE – “Everyone needs a coach…with no feedback, no coaching, there’s just no way to imrpove.” – Bill Gates – Co-founder of Microsoft – TED – May 2013

6. Business coaches help you to achieve significant breakthroughs in your training, hiring, sales, marketing, leadership, profit margins, and business skills

7. Business coaches allow you to learn from mentors and not mistakes

8. Business coaches provide your with proven structure (file organization, org charts, pro-forma creation, search engine optimization strategy, cold calling scripts, resources, sales training)

What a Thrive15.com business coaching workshop will help you to achieve?

Because even when you’re near the top of your industry, there are opportunities to raise your standards of success.

A source of constant support for you
Your coach’s priority is focused completely on your business’ development and prosperity.

Your business coach helps you achieve consistency with your entire team so that every team member really understands how your business works on a deeper level.

He or she can recognize larger patterns and details that remain hidden to more casual observers, which allows you to recognize missed opportunities while also learning how to adapt your business skills in order to propel your business forward toward success.

What is the difference between business and executive coaching?

Executive coaching is focused primarily on developing leadership and management skills.

Business coaching is focused on building a duplicable and scalable business model that is able to help the owner create a business that produces time freedom, financial freedom and the ability for the owner to purse their passions.

What is business career coaching?

Career coaching focuses on work and career and is similar to career counseling. Career coaching is not to be confused with life coaching, which concentrates on personal development. Another common term for a career coach is career guide.

How is a business coach different from discussing your business problems with a friend or a therapist?

1. Coaches help you to design your life and business for the achievement and creation of sustainable success, but does not dwell on how you feel about where you currently are.

2. Business coaches are focused on providing you specific proven action steps that you can take to help you create a turn-key business model that produces you time freedom, financial freedom and the ability to pursue your passions.

3. Your business coach knows business in a way that therapists and most friends don’t. The coach you through this limiting factors rather than validating them.

4. No BS versus empathic discussion. 5. Consistency and focus.
6. No drama just solutions.

How to select the right business coach?

1. Look for no contracts.
2. Look for both tangible and non-tangible deliverables.
3. Look for the bottom line fees and no additional hidden fees.
4. Look for supplemental courses, training videos, audio trainings, etc. 5. Look for the ability to attend workshops, etc.

Feedback

Let us know what's going on.

Have a Business Question?

Ask our mentors anything.

Reserve Your Seat

Attend the world's best business workshop

  • Credit cards accepted

Get More Info

Learn more about the world's best business workshop

Get Started

Your first month is ONLY $1!

Get Started

Schedule your FREE 60 minute coaching session

Don't miss out

Watch the rest of this video and get access to thousands of other online trainings by signing up for an account. Get Business School for $1 Go Back Home Browse More Videos

Get Your FREE eBook

Get Your FREE BOOM eBook

You will be redirected to your dashboard in a moment.