Can you afford not to hire a business coach?
According to a 2006 independent study by Booz-Allen, Hamilton, found an ROI of $3,268,325 (689 percent increase) for 7 out of 8 businesses that participated in the study. That’s a big number that’s hard to ignore. Some businesses, such as Hewlett Packard, Schneider Electric, Marriott and AT&T, have taken the value coaching so seriously they’ve created highly structured coaching programs available for all level of managements.
With so much quantitative evidence supporting the value, why would any company or professional operate without a coaching program of some type? There’s a laundry list of objections which all have the same common denominator that seems to roll-up to a subjective opinion that it’s simply not necessary for the company or professional to grow. For a business, those opinions and decisions are shaped by leadership, and most likely do not vary significantly from that which an individual would opt-out. We’ve created
5 five of the most common objections, and the counter responses that may convince you to reconsider:
1. We don’t need an outsider judging our performance – we have enough of that with our key stakeholders/boss.
It’s a ubiquitous human defense mechanism, no one wants to feel they’re being judged. This might be one of the most common misconceptions of retaining a business coach. A good business coach isn’t in the business of judging, they are in the business of providing alternative options, approaches, and perspectives. This shouldn’t be misinterpreted as buying a best friend, on the contrary, you’re investing in objective honesty with a single purpose – to increase productivity and overall professional talent effectiveness to achieve a set of goals or objectives.
2. Not enough time.
Most businesses and professionals perceive themselves as being very busy – most people probably know the feeling of not having enough hours in a day to accomplish the days goals/tasks that were most likely established at the beginning of the week. Interestingly, most individuals will figure out how to make time for a critical meeting – planned or unplanned. A good example of this – would you miss a meeting to discuss a promotion, a pay-raise or bonus? Let’s hope not. This is exactly how you should think of making time with a business coach – these meetings are designed to help the business or individual achieve greater revenue, profits, commissions, a bonus or possibly the goal perceived as “priceless”.
3. Not enough money.
Money or cashflow can certainly be a challenge for many. Like “time”, we make daily decisions on where to allocate our money – the daily latte, stocks, vacations, the new offices with views we’ve dreamed of – each comes with a dividend, whether it’s personal pleasure or a means to gaining a future advantage. Where we allocate our money is a choice and typically based on real or perceived value. A good business coach is firmly in the category of future advantage – the decision not to invest, could be a decision to prolong the future advantage or miss out on the opportunity completely.
4. We’re / I’m doing great without a coach.
The successful company or professional will quickly invoke this objection- what value could a coach bring when we’re already doing so well? The perceived success may be a “truth”. Now ask yourself who decided “success” has a glass ceiling? The only “success” ceilings are self-imposed - a good business coach will help you break through the glass.
5. A business coach will never know our business (or understand my style) as well as we do.
This is another honest statement, at least in the short-term. The goal of investing in a coach isn’t for them to become an industry expert – that’s your job and most likely the reason you started your business or were hired in the first place. A good business coach is to provide objectivity at the individual level – which brings us right back to the counter response of objection number 1.
Making the decision to invest in business coaching will often be wrapped in a long list of justifying reasons. Most of the reasons we’ve run across miss the most important reason in support of hiring a business coach – the pay-off has been consistently proven and significant – in both the long- and short-term. The best candidates for hiring a business coach are your successful business owners and sales people. They have the drive to achieve more, but know that with a business coach, they can do so quicker than trying on their own. Want to learn more about the value of sales coaching? Let’s schedule time to connect – Jack Belford, FocalPoint