Brian Tracy explains the value of business coaching for entrepreneurs and business owners, arguing coaches provide personalized, experience-based guidance (assessment, goal-setting, strategies, ongoing mentoring) that generic online advice cannot. He cites industry practices (claims that 20–30% of top executives use outside coaches and that some coaches charge hundreds to thousands of dollars per hour) and high-profile examples—Eric Schmidt (who said “everyone needs a coach”), Bill Gates, and Steve Jobs—to illustrate the point. The talk closes with a motivational call-to-action to consider coaching and engage with the video.
Questions this video answers
September 20, 2018.
"20 or 30%" of top executives (speaker's stated claim).
"As much as hundreds and even thousand dollars of dollars per hour" (speaker's stated claim).
Eric Schmidt (quoted in an interview recounting his experience with a business coach).
Chapters
Hello, I'm Brian Tracy and today I want to talk to you about the power of business coaching. Running a business can often feel like a very solitary pursuit. However, as with most things in life, having an experienced mentor that you can rely on is one of the most valuable resources available to business owners today. This is why in major corporations, fully 20 or 30% of top executives have business coaches that they bring in from the outside and to whom they pay an enormous amount of money, as much as hundreds and even thousand dollars of dollars per hour. And whether you are running a small local business or looking to build a worldwide company, the benefits of employing a talented business coach cannot be overstated. Below we'll take a look at what business coaches do, how they are able to help, and a few famous examples of people who have used business coaches to take their businesses to the next level. Business coaches are typically experienced entrepreneurs and business owners themselves to decide how to use their talents for building and growing a business to help other business owners reach their goals as well. While there's plenty of information and advice available online on how to start and grow a business, all of it is by nature generic and not specific to your unique business. In other words, it doesn't deal with your situation and what you exactly need to increase your sales and profitability immediately. Business coaches, on the other hand, are able to provide something far more valuable. They provide personalized custom advice designed for you and your current customers, products, services and situation. Business coaches serve us as both trainers and mentors, training you in the skills you need to be successful in your business, serving as a source of information should you ever have any questions about what you should do. Much like any other coach, business coaches work to refine your talents and hone your goals and guide your decisions and do everything else that they can do to ensure that you and your business are successful, especially financially successful. A business coach will start by learning everything that they can about your business and the vision that you have for it. In the end, every business is different and unique and a business coach will need to have a full understanding of your business in order to assist you in the most effective way possible. Once your business coach is completely familiar with your business, they will next want to help you set beneficial goals for your business that are designed to help you achieve the final vision that you have. Whatever that vision may be, almost always increase sales and increase profitability. These goals will be both long term and short term goals that are meant to be achievable and meant to grow your business when they are reached with a beneficial set of goals in place. Your business coach will work with you to develop strategies and action plans that will enable you to meet both your short term and long term goals. Along the way, a business coach will be available for advice and guidance, should you need it, to ensure that you and your business stay on the right track. Most business coaches are versatile in the services that they offer, meaning that whether you are wanting to revive a struggling business or make an already successful business even more successful, or whether you are running a small local business or an international company, a talented business coach will be able to help you. It may come as a surprise to know that even some of the world's most famous and successful business owners and entrepreneurs have relied on business coaches at some point or another to help them meet their goals. Eric Schmidt, formerly the CEO of Google, has said before that hiring a business coach was the best professional decision he ever made. He admits that it took some urging at first, as he was already a successful CEO of a rapidly growing company and earning a lot of money. Nevertheless, after being convinced by a Google board member, Schmidt decided to work with a business coach and and was amazed by the results. In an interview with Fortune magazine, Schmidt said, everyone needs a coach. Other famous executives and entrepreneurs who have benefited from business coaching include Bill Gates, Steve Jobs and countless others. Suffice it is to say that business coaching is a resource that some of the world's most successful entrepreneurs still swear by to this day and use every month. Before we wrap up, I'd like to leave you with a thought to share with your friends and followers. Here it is. Leaders are never satisfied. They continually strive to be better and better at everything they do. Now I'd love to hear from you. So my question today is, have you ever thought about getting a business coach to help you grow your business? Leave a comment below and I'll be sure to follow up with you. Thanks for watching. And remember, if you want to change your future, take action. And take action today. If you enjoyed this video and feel it was valuable in teaching you about business coaching, subscribe to my channel like and share this video with your friends. Don't forget to click the button on the screen for a free gift. Thanks again for watching.
