|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
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 email@example.com to
arrange a no obligation, 30 minute consultation call.