Mumbai 26th July 2024: Malodia Business Coaching, a leader in providing business coaching, recently conducted a comprehensive study to evaluate the impact of business coaching on entrepreneurs in tier 2 and 3 cities across India. The study employed a mixed-method approach, combining quantitative surveys with qualitative interviews to gather comprehensive insights of 3 lakh businessmen entrepreneurs from various sectors such as Retail, FMCG, Tech, Textile and others. The study is aimed to assess the effectiveness of the strategies implemented by business coaches and identify key findings to enhance support for entrepreneurs.
The study revealed that almost 125% of entrepreneurs from tier 2 and 3 cities have earned double as compared to last year. There has been a significant surge in the number of overall entrepreneurs enrolling for business coaching. According to the study, last year more than 70 thousand entrepreneurs opted for business coaching, while this year the number reached an impressive count of about 1 lakh entrepreneurs who opted for these coachings. This just highlights that a seasoned business coach has the ability to teach and model the hard and soft skills leader needs to reach their full potential. While hard and soft skill development is essential, it’s the overall results of business coaching services that deliver the biggest return on investment (ROI).
Further the study highlighted smaller towns from states like Maharashtra, Gujarat, MP, UP, Punjab exhibited the highest demand for entrepreneurial support services provided by business coaching. Notably, tier 2 cities accounted for 65% of the total demand, followed by tier 1 cities with 22% and tier 3 cities with 13%. Most in-demand courses are boot camp programs and advanced courses. In the last six months more than 52,500 entrepreneurs experienced significant improvement in their growth potential.
The study identified several key challenges faced by entrepreneurs in tier 2 and 3 cities, including a lack of systematic processes, limited vision for business growth, manpower allocation issues, mindset barriers, and the absence of essential systems such as CRM and marketing budgets.
Addressing these challenges head-on, Malodia Business Coaching offers specialized training modules, one-on-one domain expertise, and dedicated business consultants who focus on shifting mindsets and implementing systematic processes. As stated by Rahul Malodia, the founder of Malodia Business Coaching, “Our mission is to empower entrepreneurs, regardless of their location, with the tools and knowledge they need to succeed. By specifically addressing the challenges faced by entrepreneurs in tier 2 and 3 cities, we aim to foster a culture of growth and innovation across India.”
The findings of this study underscore the significant impact of Business Coaching initiatives that empower entrepreneurs in tier 2 and 3 cities. The substantial increase in empowered entrepreneurs, coupled with the identification of key challenges and the effective strategies to address them, further solidifies the commitment of coaching to drive business growth in India.