Business Coaches in South Africa will assist and guide the business owner in running a business by helping them clarify the vision of their business and how it fits in with their personal goals. Business coaching is a process used to take a business from where it is now to where the business owner wants it to be.
Coaching and Mentoring can sometimes be confused since both roles bring years of experience. However, the biggest difference is that a mentor focuses on advising while a coach assists the owner in goal planning and keeps them accountable to achieve success.
Running a business is not easy by any measure, especially when you have no idea how to proceed once you have launched into the market or hit a growth ceiling. Although there are resources to help a new business owner identify opportunities, avoid risks, and improve their overall performance, the moment one starts running a business, the owner normally doesn’t have enough time to spend on marketing, improvements and efficiencies.
Business coaches are professionals who guide a business owner without time to do those mentioned above through business coaching. So let’s see what you can expect from Business Coaches in South Africa. Here are five advisory notes.
How are Business Coaches in South Africa Different from Mentors?
As a proactive business owner, you will spend significant time looking for ways to grow your company. Proactive business owners seek to understand why reaching business growth goals is important to them personally and how it will affect their lives.
After all, the business owner determines the speed and passion with which the goal is met (if ever). If it is not linked to the business owner’s dreams, goals and plans for themselves, there is no burning reason why getting to that business goal is critical. After clarifying where a business owner would like to take their business, business coaching will help plan and prioritise what goals and strategies are needed to help progress the business closer to its goal. A business coach will meet with the business owner regularly, weekly or monthly to keep them on track with the commitments made during the past coaching session.
Usually, people misunderstand what a mentor does and think of them as business coaches when the reality is quite different. Both mentors and business coaches have extensive experience handling businesses and guiding them to higher success. But the main difference between them is that, unlike mentors, whose primary aim is to advise the company, business coaches assist the owner with planning and helping achieve business goals.
Looking for a Business Consultant? Here are some insights into our article Business Consultants Offer Great Benefits – Here’s Our List of 13.
Things to Expect from Business Coaches in South Africa:
- Building actionable plans together: During the consultation, a business coach knows where the business owner intends to take their business. Then, based on the owner’s input and reason for their establishment, business coaches determine the speed, effort, and resources required to reach that level.
- Extensive market research: Being experts, business coaches create strategies and plans for businesses to progress. But for that, they do thorough market research to pinpoint the specific needs of a business. Bringing market insights, strategic advice, and expert recommendations to complete the market research done by business coaches.
- Customised business plans for start-ups: Business coaches understand that start-ups require a completely different business plan than an existing company. Therefore, they help clients through their start-up journey by assisting in the discovery phase and brainstorming for ideas; during product and service development and various launch stages.
- Business valuation and modelling: Knowing an accurate business valuation is critical for owners who want to sell or buy a specific business. Without the help of a business coach, one may end up selling their business for a low price, which took several years of effort to build.
- Expert financial projections: Managing a business also means including financial forecasts to avoid any risk in the future. Business coaches are usually consulted for their financial modelling skills. Not every business owner is supposed to be great with numbers, but business coaching can help them with accurate data and charts to manage all the key aspects.
When you have the aid of a Business Coach in South Africa, taking your business to the next level becomes effortless. Want some further advice on your Start-up? Why not look at the Professional Solutions provided by Retail Capital’s Symmetry Hub? Alternatively, you can contact our Founder, Dr Thommie Burger, directly; he’d gladly guide you where needed.