Is a Business Coach Right for You?
Metrix Global did a study to determine the business benefits and return on investment for an executive coaching program. Their bottom line findings were that:
“Coaching produced a 529% return on investment and significant intangible benefits to the business.”
This study was specific to executive coaching, but it applies to any type of business coaching (although I’ve seen much greater increases for many clients). Over 500% ROI…which makes it one of the best investments you can possibly make.
Yet, I feel a business coach isn’t for everyone.
I know that’s a weird statement for someone who sells any type of coaching services to say, but it’s true.
To profit from coaching, you must:
1. Be willing to try new things.
If you just want to keep doing the same things you’ve always done, what’s the point to coaching? There is none. You have to be willing to step out of your comfort zone and do something new to increase your profits. This may even mean you have to be a little uncomfortable for a while (change is always a little unnerving). The last thing you want is a “Yes-man” for a coach who just says what a wonderful job you’re doing. Get ready to make some changes!
2. Be open and honest.
Don’t hide your business success or failure from whoever you’re working with. If you’re too ashamed of where you’re out to let the truth come out, then you’re not ready to work with any coach. Be honest. Be real. If you’re not willing to do something or it comes difficult for you, let them know. Don’t hide it. And don’t hide from your coach!
3. Take action.
This is the most important key of all. If you don’t take action, you won’t get results. If you’re not ready to take action, then don’t hire a coach. You’ll only see the 529% ROI mentioned above if you’re ready and willing to follow the steps your coach helps you outline and create. That’s the key to any success. ACTION!
For further research….
Nancy Hayssen recently wrote an article discussing whether business coaches are worth it or not…and 5 keys to finding a good coach. View it here:
Internet Coaches: Are they Worth It?
The list she gives you for finding the right coach is vital.Related Entries:
- Choosing a Mentor or Coach
- Are You Ready to Become a Super Star?
- What Are you Tolerating in Your Life?
- Terry Dean e-Coaching Letter
- Create Your Elevator Speech