Coaching is a powerful development tool and I think every business owner and executive should have a business coach, and this should extend to mid-level and emerging leaders as well.
But I guess you’d expect me to say that.
“Show me the ROI,” I hear you say.
And I’d agree with you – coaching is a cost to your business and needs to pay its way; it needs to return on your financial and time investment.
Today, I want to chat about how you can maximise time with your business coach and gain the biggest return for your personal and business growth. You want to ensure your sessions are both productive and transformative. What does that even mean and how does it work?
Let's answer some basics first – what is business coaching? Who uses it? Why? And is it right for me or my team?
Then we can look at selecting the right coach for you, maximising your sessions, and measuring the ROI.
We all know continuous improvement is essential for survival; that old saying, ‘if you’re not going forward, you are going backwards’ is absolutely true and in today's entrepreneurial approach to business, this is even more pertinent.
Business coaching is a key tool in cultivating leadership, enhancing teamwork, and boosting overall business performance.
What is Business Coaching?
Business coaching is a personal, performance-focused relationship that helps you or your team hit specific goals and step up your game at work. (at this point, imagine Kathy Freeman's run coach - the one who can pinpoint the issue, define a solution that's right for the athlete and their goals, be the biggest supporter and celebrate the wins)
Business or executive coaches work with clients to clarify goals, identify obstacles, develop strategies to overcome business and personal challenges, and capitalise on business opportunities. This process focuses on immediate business issues and targets personal development within the business context.
You may at this point be questioning why a business coach would work through personal challenges the client might be having.
And fair enough - you are paying for a 'business' coach to elevate business success.
But I want to take you back to the key principle of Coaching: it's a personal performance focused relationship.
To get the very best performance, Coaches work with the client on a holistic level. We all know that our personal issues often spill over into work no matter how hard we try to compartmentalise the issue. Everyday challenges like parenting, relationships, finances, health and even supporting ageing parents impacts our concentration, decision-making, and interpersonal relations at work. So in a coaching session we may work on the personal stuff so we can unlock the very best version of the client , and it is from this liberated space where we see the highest performance and outcomes come from.
Who Uses Business Coaching and Why?
I generally work with entrepreneurs, business owners, and senior leaders who thrive on 'busy-ness', the ones who are always on the go, who keep all the ‘plates spinning’, but at the same time are seeking purpose and meaning in their lives.
Business coaching often specialises in either a niche field or outcome focus. Generally, business coaches are used by a wide array of professionals, managers, and small business owners across various industries. Essentially, anyone who wants to succeed and optimise every opportunity.
When I chat with my clients there is a whole range of reasons for engaging with a business coach:
Leadership Development
Business Growth
Career Transition
Performance Improvement
Is Business Coaching Right for Me or My Team?
Figuring out if business coaching is a good fit for you comes down to taking a good look at where you're at—both individually and as a team.
Are you hitting roadblocks that feel too big to tackle on your own, or maybe you're just trying to step things up but aren't sure where to start?
What specific challenges are we facing right now?
Have we been able to solve these issues on our own?
Do we have the skills needed to reach these goals, or are there gaps?
How open are we to external feedback and new perspectives?
What is our commitment level to making necessary changes?
How Do I Select the Right Coach?
Choosing the right coach is crucial. Consider the following steps:
Understand Your Goals: Before you start looking for a coach, have a clear understanding of what you want to achieve. This clarity will guide you in finding a coach who specialises in the areas you're looking to improve.
Experience and Expertise: Find a coach who really knows their stuff, especially in your industry or someone who's tackled the same kind of issues you're dealing with. You want someone who's been there, done that.
Coaching Style: Coaches come in all flavours. Some are more hands-on and directive, while others are all about collaboration and guiding you to find your own solutions. Think about what style clicks with you and will work best for what you need.
Consider Their Methods and Tools: Ask about the tools and methods they use. Some coaches may use data-driven approaches, others might prefer more intuitive methods. Make sure their techniques resonate with how you or your organisation operates.
Maximising Your Coaching Sessions
To really get the most from your coaching sessions, being prepped is essential:
Regular Reflection: Take a moment before each session to think about what’s gone well and what hasn’t since the last time you met. This keeps your sessions laser-focused on what really matters.
Define Success: Get clear on what winning looks like for each session and your overall goals. This keeps you and your coach on the same page and chasing the same outcomes.
Take Notes: Jot down important points during your sessions. This helps lock in details and gives you something to revisit between meetings to keep the insights alive.
Prioritise Action Items: At the end of each session, list what needs to get done next and figure out which actions will make the biggest splash. Make it your mission to knock these out before you meet again.
Stay Proactive: Don’t just sit there—get involved! Ask questions, challenge ideas, and really dig into the conversation to get a deeper understanding.
Utilise Resources: If your coach tosses resources your way like articles, books, or exercises, dive into them. They’re there to boost your learning and add extra oomph to your development.
Build on Feedback: Keep building on the feedback and lessons from each session. This momentum is key for steady improvement.
Communicate Regularly: Shoot your coach a message if you’re stuck or if you’ve hit a big win. Keeping the lines open can really power up your coaching relationship and keep things running smoothly.
Stay Committed: Stick with it, even when it gets tough. Real growth often comes from pushing through those rough patches.
Review Progress: Keep checking in on how far you’ve come with your coach. This not only keeps you motivated but also sharpens your strategies and goals where needed.
Measuring the ROI of Business Coaching
Figuring out the ROI from business coaching isn't always about the numbers; it's often more about the quality of changes you see:
Performance Metrics: You can track improvements directly by looking at how productivity and efficiency have changed.
Achievement of Goals: Hitting your key strategic targets? That’s a clear sign things are working.
Feedback: Regular insights from your coach and your team can give you a good read on how things are progressing.
Personal and Team Growth: Big improvements in how you lead and how your team works together can really show the true value of your coaching sessions.
Have I convinced you that business coaching is right for you and your team? Or still unsure?
Or do you have one of those tricky questions that I haven’t covered?
Drop a comment or shoot me a private message and let's chat. No obligation, it’s just a chat.