The benefits of coaching
It used to be the very well-kept secret of Fortune 500 CEO’s and now the business coaching industry revenue according to IBIS World will grow at an average annualized rate of 0,2% to 8.8 billion. Every CEO and all highly ambitious entrepreneurs have their own personal coach and some of them claim that this is the best investment ever. According to a research from Manchester Inc the ROI (Return in investment) in business coaching is six times the cost of the coaching and according to other studies it can go up to 788%.
In simple words they get 6 dollars in return for every dollar they spent for coaching. In recent years coaching has developed different niches according to the needs and the different approach used but regardless of the niche the benefits of personal coaching, executive coaching and business coaching can last for a lifetime. The number one benefit from coaching is enhanced self-confidence and that alone can make all the difference in the world especially in the business world.
Let’s take a look at the numbers
Of course, every person is unique and every situation is different and the benefits of personal or business coaching cannot be summarized in one or two areas only, since this is a process that can bring drastic change and improvement in all areas of business or life.
In business coaching the benefits among others are:
More satisfied customers
Improved communication skills
Development of leadership skills
Better structures and procedures
Planning and goal setting for improved results
A business environment that everyone wants to work in
Although we refer to business coaching as a procedure that has to do with the development of business, we shouldn’t forget that it is people that envision businesses and personal coaching shouldn’t be excluded on the contrary personal coaching should come first with a combination of business coaching and this is why I developed my Alphamind business success program where you can get the benefits of a successful combination.