By Sophie Davenport, Co-Founder and Managing Director at SFE Services
SFE Services is a Buckinghamshire-based air conditioning, refrigeration and ventilation company. Founded in 2017 and based in Widmer End, High Wycombe, it is owned and managed by husband-and-wife team Grant and Sophie Davenport. The business delivers new installations, retrofits, repairs, maintenance and servicing to commercial and high-end residential clients. Throughout the last seven years, Grant and Sophie have turned to a business coach for advice and support to further their growth opportunities. Sophie discusses why business coaching is important and how to get the most out of it.
Many entrepreneurs and small businesses often find themselves shying away from business coaching – whether this be due to cost or scepticism around how the coach can help. However, the 2020 ICF Global Coaching Study has shown that a typical business will see a 221% return on their investment. This is why I was surprised to learn that 42% of companies still do not have a coach[1].
For SFE Services, working with a coach was the best decision we ever made for our business. Nobody knows how to run a business when they first start out and they often learn lessons the hard way.
A business coach helps you to avoid so many pitfalls and allows you to get ahead much quicker than you would without the help of a coach.
Coaching provides support, accountability and often introduces you to other entrepreneurs whom you also learn from. Having a coach who is fun, engaging, and enthusiastic about you and your organisation makes you want to be better at business.
In my opinion, all business owners or entrepreneurs need to invest in a business coach. It is just about finding the perfect fit.
With an array of different business types and learning styles, one coach won’t be a perfect fit for all. Therefore, it is important to evaluate how you can get the most out of your coach and find one that works for you.
How to get the most out of a business coach
Choose the right coach: It is important to work with someone who is supportive, challenges you and makes it fun. Meeting several prospective coaches can help to find the one who is the most compatible. Once you have settled on your decision, your coach will likely be there for the long haul as your business progresses. So, it is important that you are happy with your choice of coach.
Be transparent: Honesty is key if you want to get the most out of coaching. This means revealing the good, the bad and the ugly. Knowing where your business is now and where you want it to be is the best way to create a route between the two. Coaching won’t work if what you divulge to your coach is based on white lies.
Set goals and expectations: Nothing will change overnight, but with the investment of time and effort, a business can grow and adapt. Both the business and coach need to know what the end goal and milestones are, with clear indications of when these have been met.
Be committed: Choosing to have a business coach is only part of the improvement journey. You are only going to get out what you put in when it comes to facilitating change. Making time in your day to work on the business can accelerate change.
Accept all feedback: As a business owner, you may not like to hear criticism about your work, but it is important to go into all discussions with an open mind and willingness to take on board advice – even if it is critical.
Do the work: Coaches will often set tasks to complete, for example, updating information on your website or investing time into brainstorming. If a coach sets you a task, it is important to complete this ahead of any further meetings. This will enable you to hit the ground running on any next steps.
Use KPIs: Having performance indicators can help assess the impact your coach is having on your company. It can also give indications of what is or isn’t working – allowing you to adapt and respond accordingly.
Be open to change: Whether big or small, it is likely your business and/or its profile will change through the coaching process. It is important to put faith in your coach and accept their advice. Resisting change can lead to setbacks and even potentially undo all the hard work the coach has done.
Communicate regularly: Regular communication and updates can help the coach understand how the business is evolving. It can also help the process to remain fluid, especially if you go weeks or even a month between meetings. This can also be a great way to celebrate successes and milestone moments.
And lastly… Enjoy the experience. Businesses always have room for improvement in the changing economical and digital landscape. Keeping ahead of the curve with the help of knowledgeable professionals can set your business apart from others and stand you in good stead for growth. There is nothing more rewarding as a business owner than seeing your hard work pay off.
