Why Successful People Need a Business Coach in Toronto
Brian Epstein is a business coach in Toronto and has helped many entrepreneurs and small businesses get to the next level. Many businesses, large and small, are based in Canada’s largest city. Read more to find out why he recommends that all business owners and executives use a business coach to increase their likelihood of success.
Why do executives and entrepreneurs needs a business coach in Toronto?
A common trait among the most successful people in business is that they recognize that they are not perfect. No matter the level of success that they reached in their careers and how profitable their companies have become, they acknowledge that they can be better leaders. They know that there are always opportunities to improve their businesses and achieve greater profitability.
That is why the very best leaders in the industry see the value of what a business coach in Toronto can do for them. Successful business leaders, such as Bill Gates, Mark Zuckerberg and the late Steve Jobs, have relied heavily on the support of multiple coaches and mentors to give feedback and objective advice. This support makes business leaders accountable leaders and helps them achieve their goals. Often successful business leaders refer to their coaches and mentors, as their own personal “Board of Directors”.
Why are more business leaders use coaching today?
In recent years, Canadian business has been thriving. The nation is fast becoming a global leader in a variety of business sectors. However, with rapid changes in the Canadian and world economy, many senior executives fear that there may be an impending leadership crisis.
The job of making high level decisions in a business organization has never been more challenging and stressful. Shifts in the market are happening very quickly and everything has become more complex. In today’s business climate, business owners and leaders are under enormous stress as they deal with the pandemic. The fast-paced evolution of information technology, the fickleness of a very youthful workforce, and the financial commitments that face leaders and their organizations, add to the stress and increased legal scrutiny that organizations endure.
Business leaders who feel that they can fly solo and handle their commitments without the support of others, will often quickly burn out. Chronic job burnout leads to high-levels of emotional, mental and physical exhaustion and impact their behavior at work in a significant way. Burnout across executive and senior management may cause issues for any business that relies heavily on the competence of their top executives.
More and more entrepreneurs and executives are working with a business coach in Toronto to help them have effective leadership skills and optimal performance. In the small business sector alone, a recent joint study by Infusionsoft, a leading vendor of sales and marketing software to small and mid-sized businesses) and Emergent Research (a research facility and consulting firm also focused on small businesses), revealed that owners of startups and small businesses are increasingly using coaches for overcoming challenges. The study “Defining and Achieving Small Business Success,“ reported that almost all respondents admit to using one or more coaching resources to help them overcome their business and personal challenges.
How can a Business Coach help you?
Business coaches have become an integral part of Canada’s business sector by playing a key role in providing business with support to leaders and their teams. This two-way relationship between executive and coach can offer many benefits no matter what stage their business may be in.
Business and Executive Coaches Can:
- Provide education and training to help executives and their employees improve, overcome challenges, learn new skills and deal with complexity.
- Provide the outside perspective you need to help you think outside of the box so you can keep on bringing in fresh ideas that will increase profitability.
- Identify blind spots and roadblocks and hold you accountable in achieving your goals. You will be tasked to go beyond your comfort zone.
- Provide guidance when you are feeling really “stuck” and having trouble in moving forward. This guidance can help you to connect the dots and go from point A to point B to get to the next level in your business.
- Provide objective assessment and observations to help you enhance your self-awareness and build relationships with others. They can help you work in developing self-mastery in professional relationship management and communication skills. They can help you create a more healthy and productive work environment, which will enhance the productivity of your employees.
- Help you identify and learn new and innovative techniques to stay abreast of the latest trends.
- Provide training and education to develop both executives and promising up-and-comers, to build future leaders and prevent turnover.
- Provide advice to help you re-evaluate priorities, take stock of what is really important and decide what actions to focus on as you reach a new level of success.
In a report by the market research firm IBISWorld, business owner Noel Theodosiou describes how a professional Business Coach has helped her performance and growth over the years, “I would attribute a lot of my success to the way that coaching has changed my perspective and made some things easier and made me prioritize my emotional energy and my time.”
Do companies and executives get value from business coaches?
Engaging the services of a business coach in Toronto, can prove to be a worthwhile investment. In a report by Canadian research firm IBISWorld published in July 2017, the demand for business coaching in corporate Canada has grown over the past five years – it is expected to continue to grow in the next five years as conditions for business improve. Updated data shows that the increased demand business coaches, comes from senior executives and management.
This rising demand simply shows that business coaching does work and can help business owners and executives get better results. The connection is simple:
Business Coach = Business Owner / Leader Efficiency = Business Profitability
The job of an entrepreneur, CEO or other high performing individuals, in a fast-paced environment, is very unique. The position requires more than simply “calling the shots.”
These leaders must have a thick skin, take criticism well and not be easily upset or insulted. They must be able to accept quality feedback to ensure that their business reach its objectives.
Another important trait that managers and executives need, is to be able to make empowered decisions. Leaders a are often the final decision makers, therefore it is important to react to market conditions swiftly and to make sure that those decisions are aligned with the business’s mission, vision, values, and goals.
So how can a Business Coach in Toronto support and Corporate Leaders and Business Owners?
Business coaches can help executives be more effective in developing the skills and competencies they need to ensure that they have the ability to address the challenges and opportunities that come with their jobs.
Many businesses and organizations across Toronto are now making business coaching a core part of their leadership development programs. The key decision makers use business coaching as a tool to develop current and future leaders. This is because coaching focuses on the development of skills and their application for better results.
Hiring a business coach is an investment that will continue to yield a return on investment for many years. According to an ICF Global Coaching Client Study, ROI for business coaching is very high – usually as high as a six-fold return in the form of improved work performance and productivity, as well as improved business management and team effectiveness.
Regardless if you are a small business owner or a top executive in one of the Fortune Global 500 Canada Companies, it is important to use the services of coach to develop the planning, time management and decision making competencies of business leaders and managers.
Now that you have taken the time to read this article, I hope your ready to take your business to the next level by utilizing a leading business coach. I encourage you to take the first step and set up a 30-minute call. Your success is just a call away.
