A Business Coach Should Really Be A Profitability Partner
Remember when the term coaching was exclusively associated with athletics? Not any longer. Today, we have life coaching, nutrition coaching, skills coaching, communication coaching, college coaching and career coaching just to mention a few. Business coaching, like medicine, is becoming extremely specialized. There’s executive coaching, team coaching, performance coaching, and entrepreneurial coaching along with a host of others. Over the years I’ve participated in my share of the coaching process, both as the coach and the coached. Perhaps my penchant toward efficiency and productivity led me to design, develop and deliver a comprehensive leadership coaching process that earned me the nickname A CEO’S Best Friend.
The purpose of this article is to examine the benefits of business coaching and the issues associated with its cost and success rate. Generally referred to Professional Leadership Coaching or Small Business and Entrepreneurial Mentoring, the training of effective leaders is imperative to succeeding in today’s globally competitive, complex, and ever evolving business environment. To me, the ultimate methodology behind business coaching is to provide management with the appropriate self-evaluation tools required to honestly assess their own performance as leaders in the workplace, such as their ability to:
• Encourage personnel to excel
• Promote professional growth
• Enhance productivity
• Nurture loyalty
• Foster pride in organizational prosperity
With the assistance of a talented business coach, capable of facilitating effective human resource management all of the above and more can be accomplished. While a successful business coach will be dynamic and engaging, they must also be resourceful in providing honest critiques, techniques and directives that will be not only considered, but ultimately accepted and executed. If these objectives are met, business coaching will maximize organization potential, enhance enterprise operations, and increase overall growth.
While most people can presume to understand the role and goal of a business coach, there are misconceptions regarding fees and success rate. Likewise, there is often an undeserved stigma attached to hiring a business coach. More than 95% of the time, all the onus of a successful business coaching venture is placed on the client or small business owner. I choose to work at a lower fee and a share of the profits my coaching has produced. This is why I prefer the term profitability partner. In this role, I demonstrates my commitment to my clients, as well as my motivation to ensure the improvement of my client’s bottom-line.
Many of my clients refer to me as a part-time COO because my coaching methodology employs a comprehensive approach toward examining and improving every aspect of a business. This integration of enhanced services with fiscal efficiency at every level has led to my reputation as a proven business coach with a history of enhanced bottom lines.
Business coaching service, offered on performance-based compensation, provides business owners with a more efficient means of enhancing overall performance, enhancing productivity and improving quality of life.
Coaching fees vary according to each client’s specific requirements and choice of mentoring application. Fees are accrued on a month-to-month or per session basis. Traditionally, the cost of a professional business coach is between $200 and $500 per hour. My service offerings are based on a small monthly retainer drawn against an agreed upon compensation. Compensation is determined by achieved cost savings, access to services at lower then anticipated prices and overall corporate profits. For more information on this unique business coaching model contact me directly at 856-304-2800 or firstname.lastname@example.org.