In every industry there are misunderstandings,, common myths, fictional stories and personal opinions. Business coaching is no different. The more popular this industry becomes the more susceptible it become to untrue allegations.
This article helps to shed some light on this industry and provide you with some business coaching facts.
Many of the business coaching facts found in this article are courtesy of survey results provided by the International Coach Federation. Others are the finding of separate studies.
Fact: There are over 25, 000 business coaches in the U.S. alone. Many of them coach both online and offline businesses. While business coaching may seem like the new kid on the block, the truth is the foundation is well established.
Fact: Over 40% of Fortune 500 companies use business coaching. Business coaching is not just for inexperienced entrepreneurs. Even large corporations and people with MBA’s utilize business coaching.
Fact: Coaching is about learning not teaching. Coaches are not teachers. They can teach you a lot but they are not there to teach you how to run your business. They may not know how to do things better than the client.
A coach can observe patterns and set the stage for new actions and then work with the individual to put these new, more successful actions into place. They are not there to do the work for you.
Fact: Most clients do not turn to coaches simply for monetary advice. They turn to their coach for help on time management as well as career guidance and business advice. To a lesser but still significant extent, they seek coaching on family, relationships, wellness and spirituality.
Fact: 98.5% of coaching clients said their investment in a coach was well worth the money
Fact: Coaching is a process not an event. The true process of coaching requires getting at the ‘root cause’ of deficiency. If your company is lagging there is a reason.
Business coaching is need to help get to the root cause. You have to be willing to accept the cause, overcome it and then begin changing the effect it has on you and your business. All of this is a process.
Fact: Coaching is not the same as consulting or counseling. Coaching is about creating a win-win alliance. Coaching looks at businesses holistically.
Fact: 61% of clients report having greater job satisfaction due to coaching.
Fact: Coaching can produce a 529% return on investment and significant subtle benefits to the business.
Fact: Not all business coaching firms are genuine. They will try to set up cult-like organizations. These organizations try to control businesses, push products on them, and do not have the business owner’s best interest at heart. This is why it is important to research an organization thoroughly, and ask your coach for qualifications and references before continuing to work with them.
Fact: According to most clients to be a sounding board is the number one role of a coach. They want a coach who will provide honest feedback and really listen to them. They also use them as motivators, friends, mentors and spiritual guides.
Fact: More than two thirds of clients attributed to their coaching a higher level of self awareness, smarter goal setting and a more balanced life.
These Business Coaching facts should help you see what you can get out of coaching but also what you may have been wrong about. A business coach helps your business performance by giving you an outside perspective.
They don’t build your business for you, complete tasks for you nor should they compare clients or coworkers within an organization. They help you reach your business goal by deciphering what is limiting your progress.