Understanding Success: The Importance of a Business Development Coach

Business Development Coach

Operating a business is something that you can’t tackle all by yourself. Just like a basketball team requires five players to walk away with the win, running a business consists of teamwork with staff members, business partners, and many other entities. Fortunately, there are several ways to improve this teamwork, which leads to enhanced levels of productivity, and more importantly, it leads to refined and embellished customer service. One of these solutions involves incorporating a business coach into all operational processes.

Industry Statistics

There are numbers to back up the effectiveness of business coaching. For starters, MetrixGlobal LLC recently conducted a study and found that one client received an average return of almost $8 for every $1 invested in executive coaching. Another survey released by Manchester Inc. focused on 100 various executives, and all of them reported a return of nearly six times on their executive and business coaching investments.

  • Improved working relationships with coworkers and peers: 63%
  • Improved job satisfaction: 61%
  • Improved working relationships with clients: 37%
  • Improved teamwork: 67%
  • Improved conflict reduction: 52%

What is Business Coaching?

When looking at startup failure rates, you’ll see reports that state anywhere from 50 to 70 percent of businesses fail in the first two years. It’s not so much that these businesses lack good customer service and/or high-quality products. Instead, many of them have to close their doors because they simply don’t understand the core elements of operating a business. And even for those that do, many of them don’t know where to turn to ensure these elements are integrated on a customized basis to meet specific business needs. With a business coach, though, it becomes extremely simplified to incorporate these elements via the appropriate resources.

From navigating confusing regulation requirements to connecting you with business partners that excel in the industry your company operates in, business coaching should embody all business processes. And while all meetings with a business coach will involve discussing business matters, some meetings are much more thorough and extensive than others. For example, one meeting might involve discussing new hiring techniques while another may focus on finding capital for business expansion purposes.

Crystal clear goal setting is an essential service provided by business coaches. It is through the formation and achievement of these goals that your business can operate according to strategic and profitable methods. Business coaches also supply your company with accountability, pushing you to achieve the goals you have set out before you. Just as a coach teaches and pushes his team to win games, your business coach will guide you to company success. Fruitful brainstorming, personal development, improved profitability, and more intelligent financial planning are all benefits to be gained from business coaching. From pricing new services to clearing inventory, business coaching augments the easy adoption of new practices, all the while staying true to your company’s brand.

Investing your time and money in a business development coach will only prove to provide a profitable ROI if you invest in one who has many years of experience. Although this person may possess a wide range of business coaching credentials, it’s more important to look for a proven track record. More importantly, you should contact prior clients/references to validate this track record.

There’s no need to feel alone or to become overwhelmed with your business operations. With the valuable knowledge, expertise, and guidance offered through business coaching, you can have peace of mind in knowing your company is headed toward success.

If you’re looking for a business development coach to take your business to the next level, call Doug Winnie at (713) 936-3814 or fill out our short form for more information.