How to unlock your franchise’s potential with a business coach

Rebecca Newenham explains how a business coach can help you adopt the right mindset for success.

How to unlock your franchise’s potential with a business coach

Rebecca Newenham explains how a business coach can help you adopt the right mindset for success.

As a franchise owner, it is easy to get bogged down by the day-to-day of running your business. You may find yourself overwhelmed and unsure where to turn next as your business vision seems ever more distant. Investing in a business coach could transform your approach, enabling you to work ‘on’ your business, not ‘in’ your business, empowering you to take your franchise to the next level. 

Here are my tips for getting started with a coach:

1. Decide what type of coach or coaching you want – is it business or personal?

A business coach can help you with the strategy side of your business and with setting and tracking your goals. They can be a fountain of wisdom, a source of guidance, a listening ear and someone to keep you accountable. They typically draw on their background and experience to help entrepreneurs manage and grow their businesses. 

Your coach will learn about your business and help you set an overarching vision, achievable goals and processes to help you achieve them. They can also support you to overcome any obstacles you might encounter along the way or simply be a sounding board for your ideas and issues.

A personal coach (or personal branding coach) focuses more on you as a person, not just your business. You are often the face of your business, and you need to make sure you are projecting the right image. A coach can help you articulate your personal values and how they fit with your business values. They can also assist you in critical areas like presentation skills or making an impact. 

Personal coaches can help you find that difficult balance between work and personal life. Looking at how you spend your time, they can empower you to find tools and methods to manage both aspects of your life successfully. There are also fitness coaches, even book writing coaches! If you have a goal or an area of your life or work you want help with, there is likely to be a coach who can assist.

2. Will group or individual coaching work best for you?

Coaching can be delivered in either a group or one-to-one format, so think about which option best suits you. Individual coaching is tailored to you, so it’s valuable and relevant. You can talk through any issues you’re having with your coach, and over time they can help you with your plans from inception to execution as they get to know your better. You may also have more control over when and where you meet with a coach, as you won’t have to fit into a group schedule.

Group coaching helps you to avoid common pitfalls and share your own experiences with others. You can learn from others in different industries and see things from a different perspective. It can also assist with networking and boost your profile as you expand your public network. Group coaching can be more cost-effective, as you share the cost of coaching with the others in the group.

3. Do your research to find the right coaching fit

There are many business coaches available, and it’s worth spending time to find the right one for you. Start by looking for someone who has experience in your industry, businesses like yours or people like you. Several coaching franchises might be beneficial, such as ActionCoach, Entrepreneurs Circle, or The Alternative Board. These coaches ought to have unique insight into running a franchise which could be particularly helpful.

Consider also individual coaches who work for themselves. Think about location. Do you want to meet your coach face-to-face? If so, you’ll need to find someone local. If you’re happy to work on Zoom, you can look further afield. I have worked with coaches face-to-face and virtually and have found both approaches just as successful.

The terms ‘mentor’ and ‘coach’ can mean slightly different things, but both offer similar services, so think about mentoring and coaching. Some organisations, such as the Institute of Enterprise & Entrepreneurs or Be The Business, provide free mentoring backed by the government and supported by leading businesses. These resources could be an excellent place to start if you’re not sure if coaching or mentoring is right for you or if you are struggling to find the correct support.

Once you have found a few options, check out their website, credentials, and online profiles to make sure they’re a good fit. Look up reviews from their previous clients, or ask people you trust for recommendations. 

4. Be honest with your coach and commit to the process

Once you have decided on a coach, give your relationship the best chance of success by being as open and honest with your coach as possible. Help them get to know you and your business and what makes you tick. Invest time in the relationship and ensure you stick to planned coaching sessions. Don’t be tempted to cancel a scheduled session because you’re busy. Though it may seem like a false economy, taking time out of your business can help you return to it with a new enthusiasm or new tools to be more productive.

5. Don’t be afraid to change your coach

Once you find a coach, it’s essential to give them some time to get to know you and help your business. But don’t feel obliged to stick with them if they aren’t adding value to your business. The relationship between entrepreneur and coach is important, and you want to make sure you get it right. 

As your franchise develops and grows, you may feel like you need a new or different type of coach, and that’s ok. Although your coach may be sad to end your relationship, they may also be very proud of everything you have achieved and happy to see you elevate your business to new heights.

No matter the size of your franchise or the industry you work in, you could benefit from the advice of a professional coach. Coaching has built my confidence in my strengths and empowered me to take my business forward. It has helped me explore new opportunities for my business and achieve huge personal goals like writing my first business book. If it works for me, it could work for you too!

Rebecca Newenham
Rebecca Newenham