Coaching – Where’s
Return on Investment (ROI) is an important measure of
any company’s success. Indeed it is usually the
very reason for the company’s existence.
We don’t want things merely to pay for themselves
and certainly we don’t want things to take a long
time to pay for themselves. We want a multiple return
on our investments and we want to know the payback period.
I have a client who installs large items of capital equipment,
who only ever converts business if he can show a payback
period of less than 3 years to his customers (to many
of us that might seem a long time!)
For some things, like a new machine tool, calculating
ROI and payback time is relatively easy because you can
compare the efficiencies of the new and the old. But
what about our marketing campaigns, taking on a new sales
person, developing a new website or having a business
coach(!)? These investments usually involve a known cost
but an unknown return and require varying degrees of
courage to take action.
On the very rare occasion that I explicitly promote
coaching in Insights, my aspiration for my clients
is for them to achieve a ten-fold return. Do I guarantee
this – absolutely not! But can coaching really
give committed clients this sort of return? Recent US
studies show that it can. MetrixGlobal calculated that
investment in coaching yields an average return of 529%
and another by Manchester Inc. shows average investment
returns of nearly 6 times.
Food for thought?
If you would like to find out more about coaching/mentoring
and whether it’s right for you, call 0845 658 0940
or e-mail firstname.lastname@example.org to
arrange a no obligation, 30 minute consultation call.
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