According to a recent LinkedIn survey, those who worked with a business coach or adviser earned on average of 7x more than those who tackled it on their own. This makes sense and why even athletes at the top of their game employ coaches to help find that extra edge.
Can you benefit from a coach or adviser? The answer is probably ‘yes’.
I am a huge fan of business coaching. Over the years, I have personally employed a half-dozen and had several more provided corporately. However, I got much more from those I personally hired – because I had skin in the game. It was my money and my ROI at stake.
If you are considering investing in a business coach or adviser, it is vital to remember this is part of a bigger, long-term strategy that, with their guidance, will ultimately lead to your long-term success or failure.
With that in mind, I always ask myself, “Am I willing to trust the future of my life and business with this person or company?”
Most coaches and those in leadership positions in our industry come from an employee mindset. I have experienced this first-hand in my corporate roles – and it can be quite frustrating. It’s not their fault. Our educational system is set up to groom us from an early age to get a job, not to start or run our own businesses.
The late Stephen Covey is credited with saying, “Some people say they have twenty years, when in reality, they only have one year’s experience, repeated twenty times.” I can’t begin to tell you how true this is. It gets back to the “employee mentality.” We have been trained to do a job, not to be an entrepreneur. A great coach can help you use your corporate experience to successfully transition to an entrepreneur mindset.
That said, I require potential coaches to have specialized, real world experience. They must be able to relate to what I am experiencing and how to avoid the pitfalls. For example, in a sales coach, I want someone who made their living and worked with others on commission, utilized good sales systems and practices, experienced rejection, and been through the ups-and-downs of the selling cycle.
After selling my first company, I was encouraged that my business and sales experience could benefit a consortia, but I have never had what you would call a “real job.”
I did my research and hired a coach who specialized in transitioning entrepreneurs into executive roles. He not only taught me not only how to get a job but helped unleash my passion to help others. His coaching helped me “pay it forward” by helping others progress in their careers.
It is important to begin with an end in mind. How long that takes will vary, depending on your needs and the coach. Some coaches have one size fits all programs, while others will create a plan just for you.
A coach is not a therapist, but they should push you outside your comfort zone and take calculated risks- this is where the real growth happens.
So how much does it cost? The investment varies, but for a good experienced coach, expect to pay between $500 – $1000 per month. The investment, and that’s what it is, should be based on projected long-term benefit (ROI), not how much it costs up front.
In the end, can you benefit from coaching? Yes, but you must be coachable. If you are willing to ask for help and open yourself up, a good coach or adviser can help you take your business to places you only dreamed.
Dan Chappelle is the leading authority on sales performance in the travel and tourism industry. His best-selling book “Get Your S.H.I.P. Together – The Wealthy Travel Agent Guide to Sales” is available on Amazon and Audible. To learn more about his High-Performance Sales System and onsite training programs. visit www.WealthyTravelAgent.com.
© 2020 Dan Chappelle / CCI, Inc.