Why Do Coached Businesses Thrive
Research shows that coached businesses thrive. Over 90% of coached senior teams have clarity on their business vision compared to only 14% of un-coached organisations. Moreover 56% had increased staff and on average report a 700% ROI on their coaching investment. With start-up and growth companies the statistics are even stronger in terms of survival and success.
Coaching a business may be working with one individual or it can be a whole team. These require different approaches. One-to-one work may enable frank exchanges without fear of comebacks, but with two or more group dynamics come into play. Alternatively with individual the focus can be upon his/her peak performance; in a group the advance may come from mitigating that which creates drag on the business.
Five Reasons Coaching Works
But ignoring the stats and one to one or to many, why do coached businesses thrive? What the businesses and individuals, I coach tell me is there are five key things:
- A focus on improvement. Improving what is always the first question here. As a team, we have to agree what is it that we are trying to achieve. Is this an improvement in sales or in developing a new product. Or is it getting the company ready for its next stage of growth with new blood and energy coming in. Or is it avoiding a hard crash with the loss of key accounts.
- Process. Coaching is a process which takes place over time. It could be as short as a month or as long as years. A true coach enables those being coached to understand the processes being adopted so that they either become habitual or are there in the knowledge store for when similar situations occur. There is a clear difference between the overarching strategy and the daily tactics. Tactics can be switched from one month to the next, but the strategy should remain consistent.
- Challenge. There is no real opportunity without an obstacle for most organisations. Coached businesses expect to be challenged by their coach and to reflect on that challenge to determine whether there is another way. Coaching is often about changing habits and behaviours. While some of those are easily changed; others go right to the core of an individual. The latter needs to be carefully managed so that individual chooses to make the necessary change. Businesses become inefficient when they shirk answering the difficult questions; coaches gie that challenge.
- Experience counts. There is never a single answer to a business problem. Every problem has complexity. Depending on the desired outcome can have many conflicting solutions. Experience enables the systemic thinking to look at the problem from all functional perspectives so that sales, marketing, production, finance and the board are all happy. As a coach, I can balance the individual expertise of an owner-manager with those functions where s/he is less able.
- A next step focus. All meetings end with an easy next step. Coaching is about change today not grand plans for next week. There may be 7 things to do before the next meeting, but each is tracked back to an action and definition of what is required.
So in summary coached businesses thrive because they gain awareness of their situation, clarity as to ways forward, opportunities for choice and the imperative to take action now and consistently to achieve their strategy. To find out more contact Aimed Business.
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