{"id":2780,"date":"2022-06-09T15:23:02","date_gmt":"2022-06-09T19:23:02","guid":{"rendered":"https:\/\/www.skypointfcu.com\/wph\/workarea\/?p=2780"},"modified":"2022-06-09T15:24:38","modified_gmt":"2022-06-09T19:24:38","slug":"how-to-find-the-right-business-coach-and-avoid-the-wrong-one","status":"publish","type":"post","link":"https:\/\/www.skypointfcu.com\/wph\/workarea\/blog\/how-to-find-the-right-business-coach-and-avoid-the-wrong-one\/","title":{"rendered":"How to Find the Right Business Coach \u2014 and Avoid the Wrong One"},"content":{"rendered":"\n<p>At its best, business coaching can connect you with a mentor and supporter who helps you generate ideas, make plans and execute on them.<\/p>\n\n\n\n<p>But at its worst, a business coaching offer can cost you time, energy and money \u2014 without much to show for it.<\/p>\n\n\n\n<p>Here\u2019s what to expect from a business coach, how to find a coach that suits you and how to spot red flags.<\/p>\n\n\n\n<p><strong>What a business coach can do<\/strong><\/p>\n\n\n\n<p>Business coaches draw on their professional experience to help you set and achieve your own business goals.<\/p>\n\n\n\n<p>\u201cI\u2019m here to help you, and I\u2019m here to raise your level of knowledge in whatever way I can,\u201d says Gary Robinson, who chairs the Memphis, Tennessee, chapter of&nbsp;<a href=\"https:\/\/www.score.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">SCORE<\/a>. SCORE offers free business mentoring for entrepreneurs nationwide.<\/p>\n\n\n\n<p>Some ways a business coach or mentor might do this include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Offering feedback on your ideas and suggesting new ones.<\/li><li>Giving you templates and other tools that help you make plans.<\/li><li>Connecting you with resources in your region or your industry.<\/li><li>Giving you deadlines and holding you accountable to them.<\/li><\/ul>\n\n\n\n<p>Some business coaches may also offer coursework or group training sessions on particular topics, like sales.<\/p>\n\n\n\n<p>Working with a coach should help you identify opportunities you hadn\u2019t seen before or develop new strategies for pursuing those opportunities, says Sophia Sunwoo, who coaches women and nonbinary entrepreneurs through Ascent Strategy, her New York City-based firm.<\/p>\n\n\n\n<p>\u201c[Coaches] don\u2019t necessarily have to have all the answers,\u201d Sunwoo says. \u201cBut they are the people that know how to maneuver and create a bunch of different thinking paths for their clients.\u201d<\/p>\n\n\n\n<p><strong>What a business coach can\u2019t do<\/strong><\/p>\n\n\n\n<p>A business coach isn\u2019t the same as a consultant, whom you would hire to perform a specific task. A coach or mentor could look over your&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/business-plan?utm_campaign=ct_prod&amp;utm_content=1168208&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=jsaenzmcefcu-org\">business plan<\/a>, for example, but they wouldn\u2019t write it for you.<\/p>\n\n\n\n<p>\u201cIf you were to hire me as a consultant, you would expect me to roll up my sleeves and pitch in and work with you to get things done, and you would pay me for that,\u201d Robinson says. Coaches, on the other hand, \u201ctry to show you how to do things so that you can do them [yourself].\u201d<\/p>\n\n\n\n<p>Business coaches are also not therapists, Sunwoo says. Entrepreneurship can be emotionally and mentally taxing, but it\u2019s important that coaches refer clients to mental health professionals when necessary.<\/p>\n\n\n\n<p><strong>Business coaching red flags<\/strong><\/p>\n\n\n\n<p>If a business coaching opportunity \u201cpromises guaranteed income, large returns, or a \u2018proven system,\u2019 it\u2019s likely a scam,\u201d the&nbsp;<a href=\"https:\/\/consumer.ftc.gov\/articles\/when-business-offer-or-coaching-program-scam\">Federal Trade Commission warned<\/a>&nbsp;in a December 2020 notice.<\/p>\n\n\n\n<p>In 2018, the FTC took legal action against My Online Business Education and Digital Altitude, which purported to help entrepreneurs start online businesses. The FTC alleged these companies charged participants more and more money to work through their programs, with few customers earning the promised returns.<\/p>\n\n\n\n<p>In both cases, these operations paid settlements, and the FTC issued refunds to tens of thousands of their customers in 2021 and 2022.<\/p>\n\n\n\n<p>To avoid offers like these, the FTC recommends that you:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Be wary of anyone who tries to upsell you right away or pressures you to make a quick decision.<\/li><li>Search for reviews of the person or organization online.<\/li><li>Research your coach\u2019s background to see if they\u2019ve accomplished as much as they say.<\/li><\/ul>\n\n\n\n<p>Sunwoo says to also be skeptical of one-size-fits-all solutions. A coach should customize their advice to your personality and skill set, not ask you to conform to theirs.<\/p>\n\n\n\n<p>\u201cThe moment that a business coach pushes you to do something that is really not compatible with your personality or your beliefs or values,\u201d Sunwoo says, \u201cthat\u2019s a huge problem.\u201d<\/p>\n\n\n\n<p><strong>How to find the right coach \u2014 maybe for free<\/strong><\/p>\n\n\n\n<p>Here\u2019s how to find a coach that will be as helpful as possible.<\/p>\n\n\n\n<p><strong>Determine whether you need advice or to hire someone.&nbsp;<\/strong>A coach isn\u2019t the right fit for every business owner. If you need hands-on help organizing your business finances, for instance, you may need a&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/best-virtual-bookkeeping-services-for-small-businesses?utm_campaign=ct_prod&amp;utm_content=1168208&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=jsaenzmcefcu-org\">bookkeeping service<\/a>&nbsp;or accountant. And take legal questions to an attorney.<\/p>\n\n\n\n<p><strong>Seek out the right expertise.<\/strong>&nbsp;A good coach should be aware of what they don\u2019t know. If they\u2019re not a good fit for your needs \u2014 whether that\u2019s expertise in a particular industry or a specialized skill set, like marketing \u2014 they might be able to refer you to someone who\u2019s a better fit.<\/p>\n\n\n\n<p><strong>Consider free options.<\/strong>&nbsp;There may be some in your city or region:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>SCORE offers free in-person and virtual mentoring in all 50 states, plus Guam, Puerto Rico and other U.S. territories.<\/li><li>See if your city has a Small Business Development Center, Veterans Business Outreach Center or a Women\u2019s Business Center. All are funded by the U.S. Small Business Administration and offer free training and advising for entrepreneurs.<\/li><li>Do an online search for city- or state-specific programs. Philadelphia, for example, offers a business coaching program designed for entrepreneurs who want to qualify for particular business loan programs. Business incubators often offer courses or coaching.<\/li><\/ul>\n\n\n\n<p><strong>Make sure your coach is invested in you.<\/strong>&nbsp;They should take the time to learn about you, your business and its unique needs, then leverage their own experiences and creativity to help you.<\/p>\n\n\n\n<p>\u201cI\u2019m on your team now,\u201d Robinson says of his clients. \u201cLet\u2019s do this together and make this a success.\u201d<\/p>\n\n\n\n<p><strong>More From NerdWallet<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/small-business-cyberattacks?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=jsaenzmcefcu-org&amp;utm_content=1168208\">4 Ways to Protect Your Small Business From Cyberattacks<\/a><\/li><li><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/how-to-kick-start-your-online-clothing-resale-gig?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=jsaenzmcefcu-org&amp;utm_content=1168208\">How to Kick-Start Your Online Clothing Resale Gig<\/a><\/li><li><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/2022-best-cities-for-freelancers?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=jsaenzmcefcu-org&amp;utm_content=1168208\">2022 Best Cities for Freelancers<\/a><\/li><\/ul>\n\n\n\n<p>Rosalie Murphy writes for NerdWallet. Email: rmurphy@nerdwallet.com.<\/p>\n\n\n\n<p>The article How to Find the Right Business Coach \u2014 and Avoid the Wrong One originally appeared on NerdWallet.<\/p>\n","protected":false},"excerpt":{"rendered":"At its best, business coaching can connect you with a mentor and supporter who helps you generate ideas, make plans and execute on them. But at its worst, a business coaching offer can cost you time, energy and money \u2014 without much to show for it. Here\u2019s what to expect from a business coach, how [&hellip;]","protected":false},"author":7,"featured_media":2788,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","attr_excerpt":["At its best, business coaching can connect you with a mentor and supporter who helps you generate ideas, make plans and execute on them. But at its worst, a business coaching offer can cost"],"footnotes":""},"categories":[40],"tags":[],"class_list":["post-2780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Find the Right Business Coach \u2014 and Avoid the Wrong One - SkyPoint Federal Credit Union<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Find the Right Business Coach \u2014 and Avoid the Wrong One - SkyPoint Federal Credit Union\" \/>\n<meta property=\"og:description\" content=\"At its best, business coaching can connect you with a mentor and supporter who helps you generate ideas, make plans and execute on them. 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