According to The Alternative Board’s most recent Business Pulse Survey, 81% of entrepreneurs have seen a positive impact on their business from business coaching.
The survey considered some of the most important questions owners ask when choosing a coach to help improve their business. Whether you’re looking to bring on a business coach or build out your service offerings, the following questions are an excellent place to get started on your business coaching journey. There’s one thing 73% of business owners can agree on: other business owners make the best business coaches. The answer to this may seem obvious, but it’s important to differentiate between a business coach and a business consultant.
There’s no right or wrong, or better or worse way when it comes to choosing the right advisor for your business. The majority of business owners surveyed in the 2014 study selected “other business owners using the products or services” as the most influential individual or group when making purchasing decisions for their company. The number one reason you need a business coach is to help you become a more effective leader. Of these pain points, accountability was selected as the greatest benefit of business coaching.

Take it from hundreds of other business owners – the number one factor to consider when choosing a business coach is their coaching style and philosophy. With the majority of business owners choosing fellow business owners as their most trusted advisor, it’s no surprise The Alternative Board’s peer advisory model has seen a quarter century of success. Established in 1986, Rail Coach Factory (RCF), a manufacturing unit of Indian Railways has manufactured around 16,000 passenger coaches of 51 different types including self propelled passenger vehicles which constitute over 35% of the total coaches in the Indian Railways.RCF is equipped with CAD centre to design and manufacture bogies, (both with stainless steel and corten steel). Of course, business coaching comes in all shapes and sizes, and choosing the right coach for your business is essential to a positive ROI. The answers to these questions as well as the insight found within the survey are not only beneficial to those seeking business coaching, but to business coaches looking to bring on new clients or improve their current services. In fact, the majority of entrepreneurs surveyed chose other business owners as their number one most trusted advisor — placing them over traditional business coaches and family members. Experienced business owners, with any degree of success, have already overcome the bulk of the challenges entrepreneurs face everyday. Consultants are brought on to provide solutions to business challenges, while coaches help business owners find the answers themselves.
It’s up to you to reflect on your business’s challenges and needs and determine whether you need a business coach, consultant, or both.

Business owners were nearly split down the middle on whether a business coach is more important when the market is strong or the market is weak.
85% of business owners agree that personal referrals are the most reliable method for finding the right business coach. Combining the insight of other business owners with additional business coaching provides entrepreneurs with the best of both worlds. This comes as little surprise, considering last year’s survey on how business owners choose the vendors they work with. If you’d like to profit from the accountability, strategic planning, and growth benefits of working with a business coach, contact your local TAB advisory board. Each advisory board is comprised of facilitators and local business owners to ensure the most powerful 360 degree perspective of your business.

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