Not Hiring a Business Coach, Executive Coach or Corporate Coach is Costing You Thousands of Dollars
Not Hiring a Business Coach, Executive Coach or Corporate Coach is Costing You Thousands of Dollars
A quick tour of the Internet can provide some incredible examples:
1. Large employer within the hospitality industry had their top 200 executives coaches and realized a savings between $30 and $60 million.
2. Executive coaching at Booze Allen Hamilton delivered $7.90 return on investment for every dollar invested
3. Another survey conducted by Manchester of 140 companies suggested the average return on investment was $5 for every dollar invested
4. A telecommunications company received 529% return on investment along with intangible benefits.
5. Kodak’s coaching program for 1,000 employees delivered double digit increases in employee productivity
What these statistics suggest is that an effective coaching program or business coach can deliver a minimum of $2 for every one dollar invested. This investment is quickly recovered due to the immediate increase in an individual's performance. Plain and simple - Good coaching is all about results.
Continued research on the Internet shows that coaching is not just restricted to large Fortune 1000 companies. Small businesses and entrepreneurs are also jumping on the coaching bandwagon. Four years ago, less than 5% of small business owners invested in coaches. Now up to 20% of American small business owners and entrepreneurs are reaping the measurable benefits from business coaches.
As a business coach, I have observed small business owners spend thousands of dollars on luxury vehicles to technology improvement, but resist investing in their own development and that of their employees. For it is people who make companies successful.
If you are a small business owner or entrepreneur and haven’t hired a business coach, maybe it is time to make that crucial decision. Possibly your competitor already has hired a results driven coach and is reaping at least a 2 for 1 return on his or her investment.
Not Hiring a Business Coach Executive Coach or Corporate Coach is Costing You Thousands of Dollars - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Executive or business coaching is the second fast growing industry in the US with some estimating the growth rate to be around 40%. So why is this happening and more importantly what are the results?
A quick tour of the Internet can provide some incredible examples:
1. Large employer within the hospitality industry had their top 200 executives coaches and realized a savings between $30 and $60 million.
2. Executive coaching at Booze Allen Hamilton delivered $7.90 return on investment for every dollar invested
3. Another survey conducted by Manchester of 140 companies suggested the average return on investment was $5 for every dollar invested
4. A telecommunications company received 529% return on investment along with intangible benefits.
5. Kodak’s coaching program for 1,000 employees delivered double digit increases in employee productivity
What these statistics suggest is that an effective coaching program or business coach can deliver a minimum of $2 for every one dollar invested. This investment is quickly recovered due to the immediate increase in an individual's performance. Plain and simple - Good coaching is all about results.
Continued research on the Internet shows that coaching is not just restricted to large Fortune 1000 companies. Small businesses and entrepreneurs are also jumping on the coaching bandwagon. Four years ago, less than 5% of small business owners invested in coaches. Now up to 20% of American small business owners and entrepreneurs are reaping the measurable benefits from business coaches.
As a business coach, I have observed small business owners spend thousands of dollars on luxury vehicles to technology improvement, but resist investing in their own development and that of their employees. For it is people who make companies successful.
If you are a small business owner or entrepreneur and haven’t hired a business coach, maybe it is time to make that crucial decision. Possibly your competitor already has hired a results driven coach and is reaping at least a 2 for 1 return on his or her investment.
Not Hiring a Business Coach Executive Coach or Corporate Coach is Costing You Thousands of Dollars - To learn more about this author, visit Leanne Hoagland-Smith's Website.
Like this article? Share it with your friends
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Statistics are a great way to open the eyes of disbelievers.
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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