If you’re a business owner in Hong Kong looking to take your business to the next level, hiring a business coach is a great way to do just that.
There are a few reasons we could put on the table, really. However, for the purpose of keeping this article short and to the point we’ll only look at three.
One, investing in a business coach can help you identify areas of improvement capable of both making you money and saving your business life should any unforeseen issue happen.
Two, it will help you get a lot more clarity on your business goals.
Three, it will help you reach success faster.
Long story short? Bringing a business coach into your team gives you the personalized guidance you need to make the right decisions and drive your business forward.
Quick side note: this article is part of a series of posts dedicated to business coaches in Hong Kong, and aims at giving you hints as to what to expect when working with a business coach. Happy reading!
What is a business coach?
First things first, what is a business coach?
The question is basic but giving you some precisions here sounds relevant!
Long story short? A business coach is an independent advisor who works with business owners and their top team members to give the business and its organization a boost.
Sometimes that boost is a matter of refining the business model and the commercial strategy around the business offering.
Sometimes it is a matter of giving the team an occasion to revise their time management best practices.
Sometimes it is a matter of organizing team design thinking workshops that make a very big difference in terms of innovation, creative thinking, problem-solving and team-building.
Most of the time, however, the role of a business coach is to give their client a unique opportunity to think out loud and leverage the power of a private sounding board to come to sharper and faster conclusions.
Practically speaking?
Instead of spending days on a decision and delaying it indefinitely, you get to brainstorm and decide, now.
Instead of keeping a major project undone because of a lack of ideas, you get to involve your team and use the skills of a facilitator to unlock the issue in a few hours – three to six is usually a good start!
In short? The business coach is the go-to person when nobody around is available to spare ideas and thoughts. And he/she is also the best supportive right arm you’ll ever find if you need some space to think and explore without pressure.
Identify areas of improvement
Now, that being said, the first major benefit of investing in a business coach in Hong Kong is to figure out which areas of improvement have been ignored so far and should be leveraged to make a difference.
Should you focus on your marketing? Should you revise your offering? Should you invest in reinforcing your team? Should you reinforce the resistance and resilience of your business in case something happens?
These topics are not only vital, but they can also both put money in your pocket and save your company from fatal mistakes.
The thing is, you have to act now to make things happen.
Not in a year! Now!
The reality is simple: improvement potential typically is one of those topics that stay hidden in a blind spot, somewhere behind your ears.
You know you should be doing something but you can’t put your finger on the key issue and can’t figure out where to start either. And that’s a problem because if you’re not sure where your business could use improvement, it can be difficult to make improvements and progress.
SWOTs and data
Clearly, a business coach can help you identify areas of improvement by asking the right questions and digging into your business model.
At Impactified, we therefore begin every collaboration with a brief (but in-depth!) SWOT workshop that aims at identifying your business’s Strengths, Weaknesses, Opportunities, and Strengths.
Needless to say – that the exercise goes way beyond the edulcorated SWOTs they teach you at business school (just saying).
With a coach, you’ll get a unique perspective and be able to get an outside view of your business. And that will help you see areas for improvement that you may have missed – we guarantee it!
It goes without saying, but a business coach can also help you identify areas for improvement by looking at your business metrics and data.
Metrics and data can be difficult to understand and analyze on your own, however a business coach can help you make sense of this information.
Get clarity on business goals
Second, working with a business coach in Hong Kong is a very efficient way to make yourself accountable while following up on priorities.
This is important because Hong Kong is a fast-moving city where you have to be extremely reactive and on top of your game. Hence a business coach acting as a sounding board will rapidly become an asset.
Look at it this way.
If your business goals are unclear, it can be difficult to get your business on track and make progress. If your goals are clear, however, you now have an actionable way to focus on what really matters.
Are you looking to raise money for your business? Then the logic applies here as well. Would you invest in a business that has no goals and no idea of where it is going? Probably not!
A business coach can help you get clarity on your business goals by working with you to create, prioritize and follow up on your goals. This can help you stay focused and make decisions that drive your business toward your goals.
A business coach can also help you stay motivated and committed by setting goals and making them relevant to you as an individual and your business.
Reach success faster
Third, investing in a Hong Kong business coach is therefore a great way to reach your own success a lot faster. Why? Because a business coach acts like an accelerator for your business.
On the one hand, a business coach can help you identify what’s holding you back and accelerate past these obstacles. We said that a few lines above.
Beyond setting the big picture, a business coach will also help you create a plan to ensure your business reaches success.
That can include figuring out how to write a business plan, of course. Yet, beyond writing a business plan, the real stake is to get you to think in terms of business planning, fundraising capacity, development capacity, exit strategy, and, of course, commercial strategy.
Considering that no serious investor will put money in your business if it is not structured and transparent (the definition of an investor-friendly business, really), a business coach will also be a precious help from a financial growth standpoint.
And of course, from a pure efficiency and organizational perspective, having a plan in place can help you stay focused on the right things and keep moving forward. Hence, your business coach will make a key difference when it comes to improving the way you and your team operate together.
Get personalized guidance and make the right decisions
Success often depends on you, as the entrepreneur in charge. And to that extent, relying on a business coach in Hong Kong is a matter of leveraging personal guidance to come up with decisions that make a difference and allow you to take action rapidly.
Think about it.
Any advice you get from friends and family members, especially if they’re not business owners, may not apply to your situation. Besides, when was the last time you felt confident having in-depth business discussions with your close ones?
Hmmm.
Business coaches are experts in their field and have experience working with different types of businesses because their own focus is on entrepreneurs.
This can help you get personalized guidance that applies to your business and situation.
A business coach will not decide for you. They will help you make better decisions and have a better understanding of your options. This can help you make better decisions and reach your goals faster.
A business coach will also help you understand the metrics that matter most to your business and make better decisions based on this information. This can help you make better decisions that drive your business forward.
Overall? Working with a business coach in Hong Kong is the best way to drive your business forward!
By working with a business coach, you will drive your business forward and make progress in every area of your business.
A business coach will help you focus on the right things and shed unnecessary tasks that are slowing you down. This will help you move your business forward and make progress in every area.
A business coach will help you identify areas of improvement, get clarity on your goals, reach success faster, and make the right decisions that drive your business forward.
This will help you transform your business and reach new levels of success. By investing in a business coach, you can expect to see positive changes in all aspects of your business.
How to choose the right business coach in Hong Kong?
One last point before we wrap this up: how to choose the right business coach in Hong Kong?
People often wonder how specific their collaboration should be. For instance, should I hire a leadership coach to get better with my team, a marketing coach to pitch, a sales coach to sell, and a performance coach to save time and get more efficient?
Not really.
In both theory and practice, your business coach should be capable of challenging you on every one of these aspects.
Marketing and sales relate to your commercial strategy and business model – a business coach knows how to talk you through those topics.
Pitch also relates to that, but it relates to leadership and communication as well – which once again should be topics your coach is comfortable with.
And leadership relates to internal and external organization and communication, which again is part of the big picture.
Before you hire a business coach, it is always important to understand your needs and what you expect from that coach. Then, look at the bigger picture, and consider what complementary skills could be leveraged. You now have the span of expertise you need to find with your business coach.
Conclusion: Take action!
If you’re a business owner in Hong Kong and want to transform your business, hiring a business coach is a great way to do just that.
A business coach can help you identify areas of improvement, get clarity on your business goals, reach success faster, and make the right decisions that drive your business forward.
With a business coach, you can expect to see positive changes in all aspects of your business – the only thing left is to take action. What are you waiting for?
