Believe me, I am the first to admit that I thought coaching was a joke when I entered in the business world. As a life-long athlete, I had a completely clear cut view of what a “coach” is supposed to be. In my mind, a coach was one that knows more about the game and calls all the shots on a sports team. When I got into the business world 15 years ago, I assumed these sales people claiming to be business coaches were a joke. Clearly, they do not know more about my business nor do they call the shots in my organization.
The Definition of a Coach
Through the years, however, I have found that the definition of business coach is very different from the definition of a coach in my college days. Business coaches usually never assume they know more about your business than you (run away if they do) and for sure do not call all the shots. Instead, business coaches have a very different approach to “coaching.” I recently ran into one of my little league baseball coaches. It occurred to me as I was talking to him, that he was the best coach I had ever had. His comment was, “the best way to coach Paula was to leave her alone.” Why was he the best coach I had ever had? Was it because he told me what to do at every turn? No.
The ROI of Coaching
According to a recent article in Forbes.com, a global survey by PriceWaterhouseCoopers and the Association Resource Centre found that the mean Return on Investment in leadership coaching was 7 times the initial investment, and over a quarter of coaching clients reported a stunning ROI of 10 to 49 times the cost. Wow! What is so special, yet different, about business coaches? It occurred to me that business coaches are so effective because they create the environment and the accountability needed at the time it is needed, just like my little league coach.
When a Business Coach is Useful
Okay, okay, so there are times and places for business coaches, so when is that? The resounding answer is: change! If change is desired, whether it is exiting your business, spearheading growth, or creating operational efficiency, a business coach may just be the prescription needed to move the ball forward. As business owners, we sometimes get caught in our own minds and fears. We also echo the saying, “it is lonely at the top.”
How to Find the Right Coach
Finding a good coach is the challenge. You want to find someone that has been where you want to go. You also want to find someone that is not afraid to speak openly and honestly and whom you are not afraid to speak openly and honestly. You are wasting your money if you are too afraid to speak or to act due to your coach. Instead, find a coach that encourages you to be open, honest, and to act with boldness to create lasting change in your business and your life.
