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The 10 Biggest Benefits of Business Coaching (2023 Guide)

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What are the benefits of business coaching? 

Keep reading… That’s what we’re going to talk about in this article. 

Whether you…

  • Are sick of your 9-5 and dream of starting your own business (but have no idea where to start)
  • Have a bunch of different business ideas but no clear vision of what you REALLY want to do long-term
  • Already have a business but aren’t satisfied with your growth, your work/life balance, etc.

…this one’s for you.

Let’s get started!

What is business coaching? 

First of all, maybe you’re not sure what it even means to hire a business coach.

So… let’s start there.

Basically, a business coach is someone who works with you so you can get the business results you want – as quickly as possible. 

For example, let’s say you started a business you’re passionate about, but… you’re facing challenges like:

  • Your revenue has plateaued or you just aren’t hitting your revenue goals
  • You’re having trouble attracting your ideal audience
  • You don’t know how to run your business efficiently without working all the time

If any of those challenges sound familiar, a business coach can give you a fresh perspective and insights into how you can do better. 

Get the Ultimate Guide

for building a
6-Figure Coaching Business so you can achieve more freedom!

Because here’s the deal… 

Everyone could use that kind of feedback from someone who’s been there, done that. 

In fact, did you know that many of the highest-performing people out there had coaches? 

It’s true. 

Keep reading – that’s what we’re going to talk about in a second.

Is business coaching worth it? 

What do people like TV host Oprah Winfrey and billionaire founder Steve Jobs have in common?

Yes, you guessed it… They had coaches.

That means they didn’t wake up one day and just “know” how to become wildly successful. 

They had experts guide them to the results they achieved.

And that’s true of people who attained their goals in all kinds of different industries – from sports to business. 

So, when you’re an entrepreneur, it’s the same thing… There are a TON of things to learn, and it can be pretty overwhelming to figure out how to reach your goals on your own. 

That’s why hiring someone who can give you personalized insight into how you can do better can be an invaluable long-term investment.

Okay, but maybe you’re thinking, “What kind of return on investment (ROI) can I expect if I hire a business coach?

Let’s look at some numbers:

  • Based on a survey done by the International Coaching Federation (ICF), 70% of respondents said the business coaching they received was “very valuable”
  • Entrepreneurs who get mentored DOUBLE their chances of still being in business 5+ years after starting their company (UPS)
  • 33% of successful business owners have asked for outside support (compared to 14% of unsuccessful entrepreneurs) (Xero)
  • According to the Institute of Coaching, 80% of people who get coached say it helps boost their self-confidence

So, what’s the bottom line here? 

It’s this: Business coaching can give you tangible results – in less time

Okay, next up: Let’s look at what the specific advantages of getting a business coach are.

What are the benefits of business coaching? 

So, you’ve decided that you’re interested in getting coached by a business expert. 

But… maybe you still want to know what you can expect from a coaching relationship. 

If that’s you, here are ten benefits to know about. 

1. You’ll be kept accountable

Think about this: Would you rather have a coach who tells you that you don’t have anything to change (even if you KNOW that’s not right)… 

Or would you rather have a coach who tells you the truth so you can actually get results?

The thing is, coaching isn’t always easy. 

In fact, it can be really hard… Because it’ll push you to re-think how and why you do things, and that can be uncomfortable. 

But ultimately, being kept accountable is how you’ll make progress

So, for example, if your coach gives you concrete suggestions on how you can boost your website traffic and you don’t put in the work to make those changes… 

Guess what? 

That’s on you. 

And your coach will tell you that. And again, that can be uncomfortable! But sometimes, accountability is exactly what you need to take consistent action.

2. You’ll always have a vision 

When you hire a business coach, you’re hiring someone who can help you keep your dream alive. And that can be a game-changer. 

Because I’ll be real, here… 

There are times when entrepreneurship gets rough and you might start to wonder why you ever started in the first place. 

In those moments, it can make a huge difference to have someone who can show you HOW your goals are attainable. 

For example, when I started my first online business, I didn’t have that conviction that what I wanted was actually possible for me. I just assumed people who were successful had qualities I didn’t have. 

So, that’s when I hired my first business coach… 

And even now, as a 7-figure business owner who’s “made it”, I STILL work with coaches because I know there’s so much left for me to learn. 

And that investment continues to pay off big time. (But at the same time, be careful who you hire… I’ll talk more about that a bit later.)

Ultimately, no matter where you are in your entrepreneurial journey, hiring a coach can help you maintain that vision of your big goal and how possible it is for YOU. 

3. You’ll have a strategy to follow 

To get results, you need a game plan. 

In other words? 

You need to know what you’re going to do, when you’re going to do it, and why. That’s where a business coach can help.

So, here’s a quick example: 

Let’s say you’re a new entrepreneur who’s just getting started. 

You have a bunch of different ideas and you’ve been researching all kinds of different possibilities on how you can start your own business, but… 

That’s part of the problem. 

You feel like you’re being pulled in a million different directions and sucked down a million different rabbit holes. 

The result? 

You don’t seem to be getting anywhere because you’re having trouble picking a lane and sticking to it. 

Basically, you’re overwhelmed… You don’t know what’s worth your time and what isn’t. You don’t know what will work for YOU and YOUR goals and what won’t.

Sound familiar?

In that case, a coach could work with you to create a real strategy. 

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for building a
6-Figure Coaching Business so you can achieve more freedom!

Like this:

Month 1: Define your niche 

Month 2: Build a website 

Month 3: Reach out to your network/offer your product or service at a reduced rate in exchange for reviews

Of course, the specifics of the strategy can change based on your situation and goals.

But here’s the bottom line… 

Having someone in your corner who has the experience to tell you what works and what doesn’t is invaluable. 

Because even though there are a ton of helpful resources online that CAN help you, information overload can also slow you down…

And if you don’t have a coach who can share their expertise (as someone who was in your shoes once!), you might stay stuck unnecessarily.

4. You’ll stop sabotaging yourself

“This will never work.” 

“I can’t do that!” 

“I’m not as [smart, extroverted, well-connected, etc.] as ___.” 

Do you know what all these thoughts have in common? 

Yes… They’re all self-sabotage. 

And the thing is, self-sabotage is really common in business

After all, when you’re an entrepreneur, you wear a lot of hats, and you often have to do things that you’re not used to doing. 

And that can be uncomfortable. 

But here’s the thing… 

Discomfort is actually a good sign. Again, it means you’re pushing your limits and actually growing. And without growth, you’d stay stuck in the same place.

That’s why working with a coach who can help you adjust your mindset is one key to long-term success.

And speaking of that, here’s a video about the mindset shifts that helped me become a millionaire:

5. You’ll learn to be more decisive 

As a business owner, it’s really important to be able to make decisions and stick with them. Otherwise, you risk being pulled in a bunch of different directions, as we already talked about… 

And it’s hard to make progress when you’re not sure what the right plan of action is for YOU. 

For example, if you haven’t picked a niche because you’re worried you’ll be limiting yourself to a specific audience, that will actually HURT your chances of succeeding

Why? 

Because you won’t know who you want to sell to… And if you don’t know who you’re selling to, you won’t be able to effectively speak to their specific pain points.

For example, if you want to become a coach to help “people”, that’s too broad. 

Instead, ask yourself:

  • Who do I want to help? 
  • What do I want to help them with?
  • What matters to my ideal audience?

So, let’s say you have an investment background and you want to help underrepresented communities learn how to invest so they can build generational wealth.

See how that’s instantly more focused… WITHOUT being too narrow? 

A coach can help you take the kind of decisive action needed to pick a lane and GROW.

6. You’ll build a sustainable business from the start 

Okay, maybe you’ve already done things like market research, but…

You still feel stuck and unsure of yourself. 

If that’s you, don’t worry. 

I’ve had clients who faced this challenge and overcame it because I helped them tweak their strategy and understand how to sell to their clients in the RIGHT way. 

Because often, it’s not just what you’re offering that makes all the difference… It’s HOW you offer it. 

In other words, you need to know your target audience well enough to have them think, “THIS person gets me.” 

And if you have a fantastic coach, you can set yourself up to have those kinds of results from the very beginning.

7. You’ll get to your goal faster 

Hiring a coach is an investment that can save you a TON of time and money. I know this firsthand because when I was just starting out, I wanted to hit $300k with my first launch. 

But you know what? My coach told me to aim higher and aim for $1 million. 

The result? 

I pushed myself harder and ended up earning $500k MORE than what I had originally planned. THAT is the power of great coaching

8. You’ll get past business growth plateaus 

Remember how I said that hitting a plateau in your revenue can be a good reason to hire a coach? 

Well… it’s true. 

Because the thing is, you can have an incredible business or idea and STILL need some guidance on how to get unstuck sometimes. 

In fact, everyone reaches a point where they just don’t know how to scale past their current revenue. 

That’s where hiring someone from the outside can help you see things from a fresh perspective so you can continue to grow. 

9. You’ll have someone to talk to about your business 

Maybe you’re the only person you know who’s an entrepreneur. And… your family and friends STILL don’t understand why you would leave a stable job to work for yourself

If so, believe me… I get it.

I faced the same challenge when I started out too. 

Because honestly? 

Entrepreneurship can be lonely if you don’t have anyone to turn to for support. That’s why having a coach who’s always in your corner cheering you on can make a world of difference. 

10. You’ll learn from someone who is where you want to go 

What’s one way to reach your business goals a lot quicker? Get coaching from someone who’s been in the trenches and can help you get the same results they’ve gotten. 

Because I’ll be real here… 

My 7-figure business is the result of a LOT of work. 

But I grew as fast as I did (I hit $1.1 million in just 11 months!) thanks to amazing mentors who guided me along the way. 

In other words? 

I didn’t have to figure everything out on my own. 

So, here’s my advice…

Get the Ultimate Guide

for building a
6-Figure Coaching Business so you can achieve more freedom!

If you can, find someone who’s achieved the specific goals you’ve set for yourself. 

For example, if you want to hit 6-figures while only working part-time on your business, find a coach who’s done the same thing. 

How to find a business coach 

Listen: Not all business coaches will get you the results you want. In fact, I hired a coach early on who didn’t have any idea how to help me… And I lost $18k in the process.

But here’s what I learned: 

Great coaches offer tangible results because again… They’ve been there, done that

And they’ve helped others get meaningful results too. So, before hiring someone, check their background. 

Figure out if they have the experience to customize a plan to help YOU specifically. Because if a coach is really worth investing in, you won’t have to wonder what results they can give. 

Next steps

So, there you have it! 

Now you know what the top benefits of hiring a business coach are. 

As you can see, getting outside help can be an efficient way to scale your business in the least amount of time (and without working 24/7).

But you don’t even need to have a coach to get started.

I created a free PDF to give you a tried-and-tested blueprint that will help you create your own coaching business… so you can finally quit your 9-5.

Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom?

Get Instant Access To My FREE Ultimate Guide Below!

When you sign up, you’ll also receive regular updates on building a successful online business.

Read more:

How to Find an Online Business Coach (Can One Really Help You?) 

How to Design and Price Your First Coaching Package

How to Launch Your Online Course (+ Checklist) 

About Luisa Zhou

Luisa Zhou has helped thousands of students build and scale their own profitable online Freedom Business. Fun Fact: She used to work as an engineer for the Space Station and holds a B.S.E. from Princeton. Click here to learn more about Luisa.

Hope you enjoy this blog post.

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