Five common myths about business coaching and why they are wrong

By Consultantsreview Team Thursday, 14 January 2021

Myths About Business Coaching and the Real Story Behind the Training Process

Five common myths about business coaching and why they are wrong

For some business owners in India, the value of coaching is still vague. It is associated with myths and stereotypes that make it less appealing. Discover what business coaching is all about, and why sceptics are often wrong.

What is the mission of a business coach? Will they only walk in and fix your organisational problems? Or do they only motivate you to do it? Many entrepreneurs feel puzzled, and this causes them to miss valuable opportunities to change their companies for the better. Here are five common myths about coaching and how to bust them.

I Know What Is Wrong With My Company

1.I Know What Is Wrong With My Company

Interpreters may misconstrue symptoms as root causes. As a result, they never really get to the bottom of the issue, and the same problems become recurring. A detailed assessment is necessary to identify room for improvement. A coach will help you diagnose your organisational imperfections.

As a result, you will not waste time fixing symptoms instead of treating the disease. With the help of a talented coach, you will take a holistic view of your business. They will help you determine the flaws. They will support you in remedying them.

It does not mean you will get a ready-made roadmap to high efficiency. A coaching session will allow you to come to a solution by yourself: for example, for a forex trading expert, coaching would include analysis of their strategy and tools. They would improve their planning and switch to the best forex trading platform in India to make higher profits. Even a global broker like ForexTime will not make decisions for them — but there is a large educational data volume.

2. I Am Too Busy

Ask yourself this question: do your constant failures stem from imperfections of your company? You may spend a lot of time fixing issues that may have been avoided if you had planned more carefully. Identify the root cause to move forward. You may need to reconsider your priorities and see the flaws in your model. Otherwise, your business will only stagnate while you are firefighting like a maniac.

Identifying the root cause is what a coach can assist you in. This will help you break the vicious cycle of imperfections and propel your company forward to wider reach and higher revenue. An expert may also help you structure your time better, which is essential for work-life balance. You will be able to achieve your goals more efficiently.

3. Coaching is Overpriced

Everything is relative. Coaching is not entertainment. It is an investment that will pay off in the future. On average, professional coaching sessions may boost your ROI by up to 18%! It all boils down to your personal involvement and ability to follow through. If you are not engaged enough, your sessions will be a waste of time and money. Business coaches provide knowledge that can and must be applied to practice.

4. Coaching is for Losers

Coaching is used by owners of successful and struggling businesses alike. Some of the largest and thriving corporations invest in it. They do it because they realise the value of an objective and unbiased perspective on their business.

Even Bill Gates is known to work with business coaches regularly. This is because any company may have systemic flaws its members do not see. The job of a coach involves helping the leader spot those inefficiencies and eliminate them.

Coaching Is Ineffective

5. Coaching Is Ineffective

Nothing will change in your business unless you make a conscious effort to improve it. If you approach coaching with a negative attitude, you will never achieve anything. Scepticism often derives from a fundamental misunderstanding of the purpose of business coaching.

A coach is not there to fix problems for you. Their goal is to help you see the big picture and spot inadequacies in your organisation. They will support you and help you see your company from a different perspective. You need to keep an open mind for this process to work.

The coach can help you develop confidence and modify your model, so the company grows. You will analyse the strengths and weaknesses of your business, as well as threats and opportunities more objectively. Eventually, the insights you gain should help make your business more successful.

The Truth About Business Coaching

Business coaching is focused on the entrepreneur, not only on business functions. For it to pay off, you need to accept the premise that coaching can be helpful. The results will come, but they will not be immediate. Coaching sessions may create a lasting impact that will help your company flourish for years. 

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