What is Business Coaching?
“Annual spending on business coaching in the United States is estimated at $1 billion.” – Harvard Business Review, November 2004
“Use of business coaching is widespread in UK organisations, with almost nine in ten respondents reporting that they now use coaching in their organization (88%).” – University of Bristol Newsletter, 2005
“The Australian Institute of Management says 70% of its member companies hire coaches for business coaching.” – Inside Business Channel 2, July 2006
According to MarketData Report in 2007, a recent study estimates that 40,000 people in the U.S. work as business or life coaches, and the $2.4 billion business coaching market is growing at about 18% per year.
Every great performer, whether an elite athlete, business legend or performing superstar, is surrounded by coaches and advisors. As the world of business moves faster and gets more competitive, it is difficult to keep up with industry changes, innovations in sales, and management strategies, among other things.
This means business coaching isn’t a frivolous purchase – it’s a well-thought out, sound investment in your company’s future.
Just as sports teams hire coaches to help perfect player performance, business owners bring business coaching into their businesses to help them gain and maintain a competitive edge. Business coaching shows business owners how to apply successful business fundamentals to improve the the direction of the company and meet the needs of the business owner.
