Entrepreneurs Take Note: The Best Business Coach May Not Be a Coach At All

A new survey from The Alternative Board revealed that entrepreneurs trust fellow business owners more than traditional business coaches.

DENVER, CO (PRWEB) October 28, 2015 - A survey conducted by The Alternative Board polled hundreds of entrepreneurs, asking them whose advice they trust most when faced with critical issues affecting their business. The survey revealed that entrepreneurs put the most faith in the advice of fellow business owners (31%) - more than business coaches (24%) or consultants (4%). Additionally, when entrepreneurs do hire a business coach, 73% seek out someone who has owned their own business.

“75% of business owners face the same challenges, regardless of size or industry,” says TAB Vice President David Scarola. “With fellow business owners ranking as the single-most trusted advisor, it’s clear entrepreneurs are seeking advice from someone who is current, in-the-field, and whose motivation for giving advice isn’t personal or professional gain.”

Business owners that do seek out a business coach report being satisfied with their advisor, with the majority (81%) seeing a positive impact on their business. Of the business owners that had met with an advisor, 71% ranked the impact on their business as a 7 or higher (out of a scale of 10, with 10 being the strongest impact). Entrepreneurs who had not met with a business advisor in the past had lower expectations, with only 18% seeing an advisor as having a potentially significant impact on their business.

Entrepreneurs seeking out a business coach see accountability and growth as being the two largest potential benefits in hiring an advisor.

The Alternative Board provides an approach that is unique, allowing business owners seeking advice to meet with other entrepreneurs who are also working in the trenches. Business owners can benefit from the acumen of their peers, who can then hold them accountable, making sure they are acting on the advice they’re given.

“Accountability is not a one-time task, but a consistent effort. A business coach who asks the right questions and focuses on measurable change is an invaluable asset worth holding on to,” says Scarola.

About TAB 

TAB is the world’s largest peer advisory and coaching franchise. The global network provides business owners with the tools and resources to improve productivity, profitability and personal fulfillment. Click here to find a TAB Advisory board in your area.

To read a full review of the survey’s findings and learn more about what they mean for your business, visit http://www.TheAlternativeBoard.com. To review the raw survey data, or to schedule an interview with David Scarola, contact Lynn Maleh at lynn@contentfac.com.



Lynn Maleh
The Alternative Board
+1 (908)656-6339


Share this Story:


comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

Sonic Drive-In
Here's your chance to own a SONIC® Drive-in Franchise Restaurant. As the nation's largest drive-in chain, SONIC® has successfully served up hot,...
The Joint Corp.
The Joint® Chiropractic is reinventing chiropractic care. Our vision is to become the largest, most respected provider of chiropractic services...
Chronic Tacos
Chronic Tacos is a California inspired authentic Mexican grill that celebrates the individuality of our customers. We have developed restaurants...
Scooter's Coffee
The success of the Scooter's Coffee franchise is based upon a commitment to quality products, fast and accurate service, and always delivering...
Big O Tires, LLC
With more than 50 years in the tire and automotive maintenance industry, Big O Tires® is proud to be a world-class leader.

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)