What if you knew you couldn’t fail? What if there were other ways for bringing about success? Business coaching is one such option. It is about being clear on what you want to accomplish. Both coach and client set realistic and specific outcomes that are transparent, then once the coaching is under way, it’s all about getting feedback and measuring incremental successes.
Coaching isn't cheap – so how can its Return on Investment (ROI) be measured? Business coaches can be worth their weight in gold, especially for start-ups, but can be just as effective in maintaining a successful business or in taking one up to the next level. Even for an individual who wants to improve skills to meet career goals, the assistance of a coach can create huge rewards.
Business coaching is one of the most important and positive steps that can be taken toward identifying and achieving business goals. If the owner of a business, for instance, wonders how to expand and become more profitable, hiring a coach is fast and effective. Think of the coach as an adviser working with you on strengths and weaknesses, helping set achievable goals, tracking their progress and motivating you as a leader. A professional business coach can give advice on what systems to put in place to increase productivity, profitability, customer service satisfaction, employee morale and for handling management turnover.
A good business coach continuously uncovers the gold hidden in a business – something that is very hard to see when focused on everyday problems. Any professional athlete with the skills to play the sport but who wants to get better at his or her game would hire a coach, right? Working from behind the scenes, a coach molds both you and your business into better players. Through expertise, experience and knowledge, coaches act as sounding boards and advisory resources, working toward fulfilling the potential of both you and your business.
Responsible for eliciting ideas, insights and providing motivation – while holding you accountable for achievement – coaches can render assistance to overcome challenges, discovering untapped potential in the process. In doing this, they help increase performance and enhance quality in both life and business.
Some core competencies are:
Formulating strategies for systems, marketing and client acquisition
Developing goals leading to improved organization
Assigning dates, measurement deadlines and accountability
Developing activity plans and monitoring plan progress
Cultivating innovation and creativity
Continuously improving performance
Think about anything you want to achieve: your goals, your intentions, your vision. For any of these, there are specific systems to follow for reaching the desired outcome. How well these goals are accomplished will determine your ROI from coaching.
Why hire a business coach? The answer, quite simply, to increase the bottom line. Whether starting a business or needing to take one up to the next level, a business coach can be a key ingredient for success, especially one who has a proven track record. A business coach can be your secret weapon.
What is your ROI for undertaking coaching? If you had to put a value on it, it might fit into the “priceless” category. As a behind-the-scenes adviser, hiring the right business coach could be the best investment ever, with benefits, both tangible and intangible, lasting a lifetime.Significant Intangible Benefits:
Become more successful, productive and tightly focused
Create a client acquisition strategy
Build a business by tapping into your full potential
Create a proprietary plan
Uncover those “hidden gems” defining you and your motivation
Become the person you want to be
Accomplish more than you ever thought possible
Celebrate victories and enjoy amazing rewards
The ROI from coaching can be determined in many ways; however, a number of impacts are intangible. The actual ROI is based partially upon your own actions: the faster you learn and the more you implement, the greater the ROI. Coaching lends itself by its very nature to goal-oriented processes.
A client may have existing measurements to apply or may wish to create new metrics. As a business coach, I pride myself on helping clients maximize this ROI in their lives and businesses through their own passion and purpose. This is what creates results.
Significant Tangible Benefits:
Improvement in focus
Improvement in clarity
Increase in clients
Increase in revenues
Development of marketing systems
Increase in client retention
Improvement in productivity
Improvement in quality and customer service
The bottom line is that business coaching – at all levels – engenders real change, offering the greatest possible return on investment. Make that investment! The real ROI is up to you and it will be forever compounding.
