Business Coaching – Ensuring Your Company’s Future

April 1, 2009 by  Filed under: Management 

Developing a business can be a fairly challenging journey as well as complicated as your businesses demands increase. Having a well devised business plan is always a necessary starting point; however, once you have developed your business plan where do you go from there? Many business owners have solicited the help of a knowledgeable and experienced business coach. Gaining an external perspective can prove to be essential in your businesses growth in today’s every changing market.

Business coaching is the practice of providing advice and support to an individual or business to help them recognize ways to improve the effectiveness of their business. Business coaching is for the inexperienced entrepreneur as well as the established company with an extensive history. It has been reported that over 40% of Fortune 500 companies use business coaching. Your business coach can observe costly ineffective patterns and help develop and establish new strategies necessary to enable your business to grow.

As reported by the International Coach Federation, of the 210 clients whom were receiving business coaching 70% reported their investment in business coaching as “very valuable”, 28.5% said their investment was “valuable” and 1.5% said their investment in a coach had “not been valuable.” In summary, an astonishing 98.5% of coaching clients reported their investment in a coach as “well worth the money.”

The benefits of using business coaching often outweigh the financial cost. Business coaching is similar to consulting or counseling; however, coaching is about creating a mutual beneficial alliance. Business coaches looks at your business as a whole; including your businesses past, present and future to better manage your professional and personal life. Coaching can improve the overall quality and life of your business, by streamlining your initial business plan.

Most business owners seek the advice of a business coach for help on time management as well as career guidance and business strategies. To a lesser extent however, still significant, they seek coaching on relationships, family, wellness as well as spirituality. Coaching is a discovery of your company’s inefficiencies. The true process of coaching requires getting at the source of your businesses ineffectiveness. If your company is stalling there is a reason. You have to be accepting of your company’s inefficiencies while seeking your coach’s advice. Your coach will be able to devise a plan to overcome your inefficiencies; thus paving the road to a profitable business future

In this increasingly challenging market, having a business coach can prove to be a worthwhile investment. The statistics on business coaching reveal that business owners who do seek the expertise of a qualified business coach do improve and enhance their chances of success. By partnering with a business coach, you can gain the opportunity to receive structured guidance and sound advice you may not have considered previously.

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