Episode 44 — Why Coaching Is Essential with Mike Lloyd
In this powerful episode of The Prospecting Show, Dr Connor Robertson connects with Mike Lloyd, a consultant, coach, and business strategist who has built his reputation on helping leaders identify blind spots, sharpen their focus, and scale with confidence. The conversation highlights why even the most successful entrepreneurs need coaching and how an external perspective often becomes the missing link between good results and great outcomes.
Following Recovering Your AR with Jeff Dorsey, which focused on financial structure, this discussion moves toward personal structure, how coaching builds the internal frameworks that sustain excellence.
The Misconception About Coaching
Mike begins by breaking down one of the most common myths: that coaching is only for people who are struggling. “The best athletes in the world have coaches, and they’re already at the top of their game,” he says. “Coaching isn’t about fixing you, it’s about refining you.”
Dr Robertson agrees. “In business, it’s easy to confuse busyness with progress. A coach helps you pause, reflect, and recalibrate before small missteps turn into big problems,” he says.
Mike explains that coaching provides an external mirror—a way to see patterns you can’t detect yourself. “It’s not about telling you what to do,” he says. “It’s about asking the questions you’re avoiding.”
Coaching vs Consulting
Dr Robertson asks Mike to differentiate coaching from consulting. Mike describes it clearly: “Consultants give answers; coaches help you find your own.”
He continues, “Consultants solve problems for you. Coaches help you develop the mindset to solve them yourself, which makes the results last.”
Dr Robertson notes that the two roles often overlap in modern business. “A great leader knows when they need a mentor, a coach, or a consultant,” he says. “Sometimes you need guidance, and sometimes you need growth.”
Mike emphasizes that good coaching is grounded in accountability, not dependency. “If your coach makes you reliant on them, that’s not coaching, that’s control,” he says.
The Mindset Shift
Mike shares how coaching often starts with a mindset transformation. “We think success is about strategies, but mindset comes first,” he explains. “Your business can only grow to the level of your beliefs.”
Dr Robertson builds on this idea: “Every founder hits a ceiling, and it’s rarely financial; it’s psychological. Coaching breaks those mental ceilings.”
Mike describes how he helps clients identify limiting stories and reframe them. “You can’t outperform your self-image,” he says. “That’s why mindset work is non-negotiable.”
Accountability and Growth
Coaching, according to Mike, is also about creating external accountability. “You can’t hold yourself fully accountable because you’ll always rationalize,” he says. “A coach keeps you honest.”
Dr Robertson agrees that this applies across industries. “Whether you’re in healthcare, marketing, or real estate, growth requires structure. Coaching provides that external compass.”
Mike adds, “When someone challenges your comfort zone, that’s where transformation happens. Growth isn’t supposed to feel comfortable.”
Coaching for Teams
The conversation turns toward organizational coaching. Mike explains how group or leadership coaching can elevate entire teams. “When everyone shares language, values, and expectations, collaboration becomes effortless,” he says.
Dr Robertson compares it to alignment in chiropractic care. “When each part of the system functions properly, the whole body or in this case, the company, performs better,” he says.
Mike emphasizes that culture follows leadership. “If you want a growth-oriented team, start with a growth-oriented leader,” he says. “Coaching starts at the top.”
Common Barriers to Coaching
Dr Robertson asks why more professionals don’t invest in coaching. Mike identifies two reasons: ego and impatience. “Some people believe they already know everything, and others want instant results,” he says. “Coaching requires humility and time.”
He adds that the most transformative breakthroughs come from long-term commitment. “You can’t change years of programming in a single session,” he says. “Sustainable growth takes repetition and reflection.”
Dr Robertson highlights that personal growth mirrors business growth. “Every company is a reflection of its founder’s mindset,” he says. “When the leader evolves, the business follows.”
Selecting the Right Coach
Mike advises listeners to choose coaches based on values, not hype. “Credentials matter, but chemistry matters more,” he says. “The best coach challenges you without breaking your confidence.”
He also warns against “one-size-fits-all” coaching. “Your path is unique. You need someone who understands your vision, not someone selling a blueprint,” he says.
Dr Robertson adds that transparency and measurable progress are key. “Good coaching is data-driven and emotionally intelligent,” he says. “You should see results in your clarity, your decisions, and your performance.”
The ROI of Coaching
Mike breaks down the tangible benefits of coaching: higher productivity, better decision-making, and reduced burnout. “Most clients double their ROI simply by removing inefficiencies they couldn’t see before,” he says.
He also notes the emotional return: “Coaching helps you operate from peace instead of panic.”
Dr Robertson relates this to scaling businesses. “When your mindset is stable, you make bolder yet smarter moves,” he says. “That’s how leaders create exponential growth.”
Key Takeaways
- Coaching is for high performers, not just beginners.
- The best coaches ask great questions, not just give answers.
- Mindset determines the ceiling of growth.
- Accountability creates consistency.
- The right coach aligns with your values and vision.
Mike leaves listeners with a challenge: “If you’re serious about growth, stop waiting for clarity, go find someone who helps you see it.”
Dr Robertson concludes, “Coaching is an accelerator. It doesn’t replace your drive, it amplifies it.”
Listen to the Full Episode:
Why Coaching Is Essential with Mike Lloyd