What difference does business coaching make to entrepreneurs' firm performance and future growth?

Abstract

Forming part of a large-scale mixed-methods investigation where business coaching positively impacted entrepreneur's self-efficacy and firm performance, this paper aims to extend and corroborate these findings by examining entrepreneurs' business coaching experiences. Thirty-nine participants were interviewed to collect additional data. Interview questions were based on eight themes: need to engage business coaches; being part of training or peer groups; contribution of coaching to growth; coach's style; coach tools and frameworks; outcome measurement; and memorable experiences of business coaching. Using a qualitative, inductive approach, this study affirmed that entrepreneurs' business coaching experiences link favourably to firm performance and growth. Entrepreneurs valued business coaches' experience and knowledge, but maintained that a trusting relationship was vital to success. This study clearly demonstrates the importance of qualitative approaches, suggesting that business coaching acts as a non-direct influencer of firm performance and effectiveness, with benefits intangibly measured according to entrepreneurs' need and perceived outcomes.

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