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Is a Business Coach worth the Money? Have a Killer Coffee to find out.

Appreciating we are biased, have 35 years experience in working with businesses and have our own clients successful outcomes to evidence where we can add real value, but what about the whole world of coaching/mentoring and advisory in general is there any empirical data to show it does add value to the bottom line?

Where appropriate we like to start with a "Killer Coffee" where we can quickly draw up a framework for a one page plan to energise your business and evidence how we can help but there is of course a whole range of people out there from world beating advisers, the deeply average and some down right poor with little or no battle scars past the ability to purchase a licence or franchise; so can it work?

Well there is real evidence to suggest that businesses that use coaches/mentors/facilitators/trusted advisor (call it what you will) can experience tangible positive outcomes, aside from the vital "side benefits" of improved mental health and reduction in stress, including increased revenue and overall success.

However, it's important to note that correlation does not imply causation, and the specific impact of coaching on financial performance can vary depending on multiple factors.

Several studies have explored the benefits of coaching in the business context. For example, the International Coaching Federation (ICF) conducted a global survey which found that organisations that used coaching reported a median return on investment of 7 times the initial investment. Another study published in the International Journal of Evidence-Based Coaching and Mentoring showed a positive relationship between coaching and financial performance in small and medium-sized enterprises (SMEs). Additionally, a survey conducted by PriceWaterhouseCoopers (PwC) albeit way back in 2011 revealed that the mean ROI for companies investing in coaching was seven times the initial investment. The same survey also indicated that coaching contributed to improved teamwork, communication, and employee morale.

While these studies provide some insights into the potential benefits of coaching, it's important to consider that each business is unique, and the impact of coaching can vary depending on factors such as the quality of the coach, the receptiveness of the individuals being coached, and the specific challenges and goals of the business.

Ultimately, while coaching can provide valuable guidance and support for businesses, success is influenced by a combination of factors, and there is no certainty that the coach you employ will automatically lead to increased financial success and certainly not without a lot of work on your behalf.

It's crucial therefore for businesses to carefully assess their needs, goals, the timescale, commitment and resources when considering the use of a coach or mentor and of course before you engage anyone consider their experience, their ability and the rapport you will have to have with any one you engage with if it is to be a long term relationship.

If you would like to learn more about how we can take your from where you are Now to Where you want to be then please get in touch and we can arrange a Killer Coffee to show you how to move your business forward

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