You’ve no doubt heard speakers and gurus talk about how every top athlete or top performing business professional has a coach that is in part, a key reason for their high level of achievement. From Michael Jordan to Richard Branson, Oprah and even the late Steve Jobs – they all embraced having a coach or mentor to help them along their path.
Have you ever wondered how much difference having a coach really makes?
A recent independent study on the value and effectiveness of business coaching conducted by the UK-based Cogent Research has provided some interesting data about the overall impact of business coaching and its effect on business. The UK research comes on the heels of a recent U.S. study of coached companies in South Florida that despite the recession, had grown revenues by more than $12 million. That study also showed coached businesses saw a return on investment (ROI) of 7.5-to-1, or $7.50 in return for every $1 invested in coaching. That means if you invested $1,000 in coaching, you can expect a return of $7,500 on your $1,000.
How often would you make that deal at your local bank?
In their report, Cogent also noted that, “Businesses generally who had adopted proven, formalized systems and processes appeared to not only have weathered the adverse market conditions of the previous twelve months but have actually increased sales and profits.”
So the verdict is in – YES coaching does work. The real question for you is: “are YOU getting coached?”
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