The Benefits of Business Coaching

A recent study by the International Coach Federation (ICF) reported that most small business owners, who hadn't been coached, would like to achieve positive change in their business development, career, and financial and physical health. The top six professional and business development areas identified in the study were: productivity and effectiveness, planning, sales and marketing, business management, positioning their firm for the future and leadership.

Of those in the study that had been coached, their top four professional and business development areas were: productivity and effectiveness, leadership, sales and marketing and planning.

• 69% of the coached business owners met with their business coach at least two times per month, mostly on a one-on-one basis in person or over the telephone, working on productivity and effectiveness, planning, sales and marketing and their leadership skills.
• 49% of the business owners who were coached spent $500 or more in professional development and 42% spent $500 or more in personal development.
• 47% of small business owners paid monthly coaching fees ranging from $250 - $3,000.

The most valuable results of the coaching experience reported in the ICF small business study:

• 28% of small business owners said brainstorming was the most valuable result of business coaching
• 28% of small business owners said independent viewpoint was the most valuable result of business coaching
• 18% of small business owners said encouragement was the most valuable result of business coaching
• 15% of small business owners said being accountable to the coach was the most valuable result of business coaching