Business Coaching & Mentoring
Business Coaching has become an important tool for business owners. There is increasing evidence that business coaching is one of the most powerful ways of developing people and adding to bottom line business performance.
Individuals who used a Coach saw improvement in:
Businesses using a Coach report the following benefits:
Some business owners try to save money by limiting their expenditures on training and development because they don’t feel training generates immediate bottom line results. However, coaching in business can turn an investment in training into dramatic positive results.
Studies have shown that business coaching can produce over 80% increase in effectiveness of training when added to a training programme.
SME’s are turning to business coaching because: (Auerbach, 2005)
Small business owners can feel isolated and therefore can welcome support and challenge from a business coach, someone outside their immediate work environment – especially if coaching and leadership development is not available in-house.
Attendance at all day, or multi-day management development courses can seem impossible in an already busy schedule – and involve significant travel and accommodation expenses. Sessions with a business coach, often conducted over the telephone / skype, can fit around other commitments.
As organisations operate with a “lean” staff – a shortage of time and increased pressure to perform is always present – and a business coach provides “just in time” assistance and individual learning and support.
Business Coaching provides for an individual “thought partner” to help the executive or manager confidentially think through important decisions in an enhanced manner.
The investment for business coaching can pay off many times over, increasing your bottom line, helping you work with renewed passion, getting more done in the same time period by working smarter, and reclaiming your life by adding more work-life balance.
What will be your next step to start working with or bringing business coaching to your organisation?
Business Coaching Resources: Jeffrey E. Auerbach, Ph.D., is President of College of Executive Coaching and author of the best-selling book, Personal and Executive Coaching.
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