Executive coaching is a growing business with an estimated annual industry expenditure of $1 billion. (Source: MarketData Report 2006) This industry is growing at an annual rate of 18% per year. (Harvard Business Report) More and more companies within the U.S., England, Australia and India are using executive coaches to improve their bottom line. And with over 40,000 (work and life coaches), selecting the right executive coach, corporate coach or business coach as part of your strategic plan may present an additional challenge to any business wanting to reach that next level of success.
If you are an executive, entrepreneur or small business owner considering bringing an executive coach into your company, these 7 business strategy tips may help you separate the true performance coaches from the wannabes.
1. Identify measurable coaching goals. An effective executive coach will begin with the end in mind by establishing the desired results that are truly measurable. These goals should be aligned to your strategic plan. Remember, if you cannot measure it, you cannot manage it.
2. Follow a results driven and disciplined coach-selection process. Coaching is a process and should be both disciplined and results focused. The coach should also reflect a disciplined approach to the coaching process. Remember, "loosey goosey" delivers no results.
3. Adopt a performance mindset. Performance is the application of knowledge that is different than learning (acquiring knowledge). Opportunities within the coaching process should be always present to apply what has been learned and making necessary course corrections. Remember, improved performance begins within the mind.
4. Check first for results from existing or past coach's clients including intangible benefits or rewards. A results driven coach should be able to freely submit testimonials that are measurable. Remember, past proven successes of others are a good indicator of your potential future success.
5. Research qualifications and remember credentials or certification should not supercede experience or results. The belief that credentials or certification is better than practical life experience is still very prevalent within the United States and other technology driven countries. If this was consistently true, then why with all the increase in teaching training the results from high school graduation rates to reading scores are not where they should be? Remember, a results focused coach is the bottom line in this selection process.
6. Ask for a complimentary hour of coaching. The coach whether executive, corporate or business should be willing to provide up to one hour of complimentary coaching. This will help you to determine how the coach uses a results approach and your own comfort level with that individual. Remember, even though coaching is all about results, you must believe that this coach can quickly provide insight to your own improved performance.
7. Recognize coaching is only a strategy and tactic to secure measurable results and that you must be committed to making significant changes. Again there is a belief that a quick fix or crystal ball can quickly change the course of a company or the behaviors of an individual. For coaching to truly be effective, you, as the individual working with the executive coach, must be committed to making significant changes. Remember, results focused coaching includes proven tools and strategies, but unless you take them to heart, the results will be less than stellar.
Executive coaching, corporate coaching to business coaching is a proven strategy within the strategic plan to dramatically increase results. If you are interested in doubling, tripling to receiving a 10-fold investment for expended dollars and time, then these 7 tips may help you determine the correct business strategy in selecting the right coach for your business.
Top 7 Tips in Selecting an Executive Coach, Corporate Coach or Business Coach - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Leanne Hoagland-Smith
(Visit Leanne's Website)
Are you where you want to be? Are you
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