Successful athletes know that a coach helps them achieve peak performance. Like a star athlete, you have a goal, but you also recognize that a gap exists between where you are now and where you want to be. A business coach’s role is to help you reach your goal faster and more effectively than you would on your own by focusing on the skills, actions and behaviors necessary to achieve that goal.
How coaching works
Are you an expert in your products and services, but struggle with other operational aspects, such as market development, change management, or personnel issues? Do you possess the technical or professional skills that your company needs, but want to develop as a leader? The reasons for hiring a coach are as unique as your business and so is the coaching process.
An expert business coach tailors his approach to whatever best helps you achieve your goal. Depending on the circumstances, a coach may motivate you to implement what you already know or push you to try something new. Sometimes a coach will ask you increasingly pointed questions that help you expand your awareness about what is possible or to define the activities necessary to achieve your goal. A coach may go beyond just asking questions and work with you to uncover the issues and formulate the solution. When appropriate, a coach provides you the advice, expertise and knowledge to advance your progress and success.
A coach is also your accountability partner, supporting you as you honor the commitments you have made to yourself by keeping you focused and on-track.
Business coaching is conducted with individuals or groups, in person or virtually (by phone, email or online) or a combination of methods. How sessions are conducted is determined by the nature of your goals, your preferences and your budget.
Coaching ROI
Your return on investment from coaching is determined by the business value of the outcomes you set compared with the cost of the coaching. Since coaching produces both tangible and intangible outcomes, not every outcome can be stated in financial terms. There are also reasons to look beyond ROI for measures of success.
Tangible results, such as productivity gains, cost avoidance and sales increases, can be objectively measured and factored into an ROI calculation. Improved management and leadership skills, improved decision-making skills and increased confidence are examples of intangible coaching outcomes; outcomes whose financial measure are subjective or qualitative. While these intangible outcomes may elude direct financial measure, they are key contributors to financial performance and are often leading indicators of future business success. In this regard, coaching is an investment in your company’s future.
Conclusion
A coach provides support, guidance and encouragement that helps you solve problems, make more informed decisions, learn new skills and fully engage your potential so you can achieve desired outcomes. Using a business coach is a cost-effective, fast-track way to make a positive difference in your business. If you want to get to where you want to be sooner, do what champions do: hire a coach.
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