These are difficult times to justify any extra expense but the College of Executive Coaching reports tremendous growth in the business development, training and coaching industry. In fact, 58 percent of UK businesses increased their business development/training budget last year.
Some of the biggest gains were made in the area of small business. In 2011, only 4 percent of UK small businesses retained business coaches and consultants. In 2012, that figure ballooned to an impressive 20 percent. One study states that 79 percent of UK SMEs have used or have considered investing in external business advice.
It only makes sense doesn’t it? With such emphasis on innovation and collaborations, no business can rest on its laurels. Businesses have to be out there, circulating, looking for opportunities and prepared to communicate with prospective clients and partners.
The College of Executive Coaches conveyed other interesting data:
- On average, successful business consultancy has increased production by 53 percent.
- Customer service improved by 39 percent on average.
- Retention of senior staff improved by 32 percent.
- Business found on average about 23 percent in savings.
- The bottom line in businesses where coaches had a presence increased by a whopping 22 percent.
Business coaching is not about teaching people to communicate better or perform their job better. Business coaching is usually a whole entity project. Business coaches can anlayse, refine and improve the entire operation while working with company workers to make a happy transformation. Yes, your employees will learn to interact more effectively, Yes, they will be more creative. Most importantly, they will be engaged in improving the business and the bottom line.
Fluid, Effective, Productive
After business coaching, the business will be much more fluid. Business reports will be focused and meaningful. Working relationships will be positive and constructive. Relationships with clients and customers will improve immediately. The business, large or small, will have a new team dynamic. Do not underestimate how productive a team can be.
Small businesses are warming to business coaching because they understand that autocratic governance can be counter productive in terms of growth. To compete in the global marketplace, small businesses can be influential. But, it is unacceptable to be a small fish in a big pond in terms of management style and teamwork.
Meanwhile, businesses of all sizes are retaining business coaches to help their teams become more effective collaborative partners. Collaboration is the key to growth at reasonable costs. If your business is not a good collaboration partner, you need to shape up.
- Seven Basics of Business Coaching (ukbusinessdevelopment.wordpress.com)
- Small Business Development and Advice (shineconsulting.co.uk)
- Information From Business Coaching Professionals (socialpoweredcontent.com)