Did you know that Metrix Global, an international research company, found that when a business’s owner receives coaching, the COMPANY receives an ROI and significant intangible benefits of 529%?
Wait, that’s not all. When they added the financial benefits of improved employee morale and employee retention, the company’s ROI rocketed to 788%!!
Those are some big numbers.
I have been a believer in coaching for years. Many of you know that from my Grandfather in the funeral business I learned the basics of business, follow-up and measurement to the mastermind groups I participated in; and being encouraged and mentored, taught and held accountable is like pure gold to the entrepreneur.
Coaching and mentoring are vital elements in the equation of setting and reaching goals. When you work with a coach or mentor you can expect to work hard but smart. Having someone who has nothing to gain by agreeing with you every single time you pitch an idea is incredibly valuable. In fact, if your coach is simply nodding his head with every new thought and idea you have, he or she is merely validating your current behavior.
Here are some of the top functions of a coach or mentor. They can be helpful in choosing someone to work with. A good mentor will:
- Explore with your needs, desires, motivations, skills and thought processes that will ultimately help you really change — the kind of change that becomes part of who you are.
- Pose powerful and probing questions that truly help you delve into your own solutions. A coach doesn’t DO your work for you, he or she helps you reveal your own solutions and actions.
- Work with you to set and achieve goals that define your progress.
- Encourages behavior that will result in successful completion of the outlined steps toward achieving the planned goals and points out potential pitfalls that are setting your path in the opposite direction of the goals.
- Offers expertise, experience and qualifications of the specific business coach.
