subject: Business Coaching Isnt Just For Fortune 1000 Executives [print this page] While business coaching has been popular with Fortune 1000 executives for years, only recently has there been much interest at small and midsize companies. This trend makes a lot of sense. Midmarket companies often have less of a cushion for mistakes. And they have fewer internal managerial resources. Therefore, business coaching can sometimes make the difference between victory and failure for both the executive and his or her company.
According to MarketData Report in 2007, a recent study estimates that 40,000 people in the U.S. work as business or life coaches, and the $2.4 billion market is growing at about 18% per year.
In addition:
Annual spending on executive coaching in the United States is estimated at $1 billion. Harvard Business Review, November 2004
Use of coaching is widespread in UK organisations, with almost nine in ten respondents reporting that they now use coaching in their organization (88%). University of Bristol Newsletter, 2005
The Australian Institute of Management says 70% of its member companies hire coaches. Inside Business Channel 2, July 2006.
These statistics mean business coaching isnt a frivolous purchase its a well-thought out, sound investment in a companys future.
Business coaching not only helps businesses establish organized plans for every challenge they come across, it helps set those plans in motion. Companies that have business coaching tackle challenges with a plan and business strategy, and this way, they achieve their desired outcome. Once the client realizes business coaching provides meaningful support and assistance and sees their goals slowly become accomplished, they realize how beneficial coaching actually is to their business.
When companies get business coaching sessions from ActionCOACH, you get access to thousands of ActionCOACH proven solutions and strategies that have helped thousands of companies grow their business. Depending on the clients needs and goals of the business, business coaching helps with coaches encouraging discipline and accountability, giving a unique and fresh perspective to business issues and help in developing ideas, and sharing strategies to grow business and accomplish goals from the ActionCOACH system.
Both the coach and the client must also gain a level of confidence and mutual respect. The coach-business owner relationship is based on candor, trust and confidentiality so both parties need to feel comfortable before beginning business coaching.
Success can be measured many ways, depending on the companys goals, but the best way and perhaps the only real way to measure success is by profit.
