180 - Difference Between One-On-One Business Coaching & Group Coaching

Have you ever considered business coaching but was unsure if you should do one-on-one coaching or group coaching? If your answer is yes, then this podcast episode will help answer some of those questions. I do both one-on-one business coaching and run a group coaching program, called the 12-Week Podiatry Business Reboot. Why do both? Podiatrists in business have different needs, and more often than not, some prefer group coaching first and then move on to 1-on-1 coaching as their business matures. Benefits of 1-on-1 Business Coaching Versus Group Coaching Detailed analysis and tailored solutions to specific problems in your business, whereas group coaching will give general information about common business problems and rough guides on how to overcome them. Detailed strategies are designed for your specific business and your business and personal goals, whereas group coaching will give general information and strategies that are widely known to work. There's less distraction with 1-on-1 business coaching. All the attention is placed on you, whereas in group coaching, there's no focus on you as an individual, and sometimes in groups, one or two people may try and steal the limelight and talk a lot. Coaching sessions will usually fit your busy schedule, whereas group coaching sessions are set in stone. There's no cookie-cutter format or time restraints on specific topics. In group coaching, the topics are set, and they are time-bound. It's far more personal, and because of this, you will be more inclined to share personal and financial information, whereas you won't do this in a group situation. Membership Groups are a little different to group coaching. I have a membership group called the Podiatry Business Spartans. They do openly share a lot of information with each other; however, certain criteria must be met to join this group, which is why it's a safe group for sharing. Is 1-on-1 Business Coaching For You? It is, especially if you want to grow your business, increase profit margins, or overcome specific issues that you feel are holding you back. You may need help with team motivation, productivity, retention and better ways to attract new team members. For others, they may need specific help with developing marketing strategies that work consistently. A Good Coach Help You Avoid Bright Shiny Lights I'm sure you would have seen ads on Facebook and other social media channels promoting quick fixes. Do this one simple technique, and you'll get 23 new bookings in 24 hours…it worked for John, so it has to work for you, right! Maybe it will, perhaps it won't. Having a steady flow of new patients and existing patients returning is extremely important; that's how you grow a sustainable business; however, developing systems that will make your business run more smoothly and look after your patients are far more critical. Having systems in place that nurture your patients during and after each appointment is of paramount importance. Just Starting Out If you're just starting out in business, group coaching may be a better solution so you can gather general information and avoid some of the common pitfalls most podiatry business owners go through. Avoiding mistakes will speed up your success. There Are Benefits to Group Coaching There's usually a lower cost to get started, which can help with cash flow if money is tight. It's a great way to meet and network with other people. If it's an engaging group, you can learn a lot from each other's experiences. You don't have to participate if you don't want to. Instead, you may just listen, and that's okay. Psychology Paper I know podiatrists love research, so to conclude, I want to mention a Psychology Paper by Sabine Losch et al. 2016, titled, Comparing the Effectiveness of Individual Coaching, Self-Coaching, and Group Coaching: How Leadership Makes the Difference. In their conclusion, they note that individual coaching and training enhance performance and goal attainment, but they also refer to the coach's leadership style, behaviour and experiences, and how this impacts the client's perceptions and motivation, which can predict coaching success. This is why it's crucial to choose the right business coach and do your homework before choosing. If you have any questions or want to learn more about how I can help grow your business, please call me on 0408 671 966, send me an email at [email protected]; otherwise, you can go directly to my online calendar and schedule a face-to-face Zoom meeting with me. ONLINE CALENDAR Youtube I record and upload most of my podcast interviews and other educational videos to my Youtube channel, Tyson E Franklin - Podiatry Business Coach. Please SUBSCRIBE, and if you click on the bell icon, you'll be informed whenever a new video is uploaded. Competitive Advantage If you're looking for a competitive advantage over other podiatrists in your area, please visit my EVENTS PAGE, and consider joining the Podiatry Business Owners Club on Facebook.