Benefits of Business Coaching
Case Studies with Yoon Cannon
Savvy entrepreneurs know that the best investment in your business is your people.
This is where the benefits of business coaching come in. Numerous studies show tremendous return on investment when you invest in your people.
If you are the business owner or the President & CEO, investing in your people also means investing in yourself.
There are many benefits of business coaching which includes:
Increased profits for exit planning
Greater work-life balance
Create a stellar sales team
Achieve greater productivity & time management
Achieve greater levels of confidence
Work less and earning more
Develop higher level of talent among your employees
To help you explore some of the specific benefits of business coaching that my own clients have experienced,
let me share 3 case studies of small business owners and CEO’s who chose to invest in themselves with hiring me as their business coach.
Key Benefit of Business Coaching Case Study #1:
Increased Profits for Exit Planning & Greater Work-Life Balance
Problem:
When this 62 yr old President of a family owned business came to me he wanted improve the profitability of his business so he could sell the company in the next 4-5 years. Trying to grow his business on his own had become overly time & energy consuming which also made work-life balance very difficult for him.
Process:
Over the course of 1 year we worked on:
Designing and rolling out a diversified and strategic marketing plan.
Managing the function and productivity of his key staff.
Coaching the client on his mindset to help him stay focused and effective.
Result:
After just 1 year the client was extremely happy with the changes:
His sales increased 300% (even though his industry was actually suffering).
His work-life balance improved tremendously (his business wasn’t so all-consuming anymore).
The new manager was making an incredible impact to the company (despite the client’s initial hesitations on this particular candidate in the beginning).
He stopped being drained my managing poor performance in his people which was also only adding more unnecessary work on the client’s plate.
He no longer feels the pressure to sell the company at this time because he is seeing that it has become financially profitable while at the same time no longer requiring so much of the client’s time sacrifice.
Key Benefit of Business Coaching Case Study #2:
Created a Turnkey Marketing System
Problem:
The President of a Healthcare Consulting company and his team were struggling to attract new clients. They were all trained medical doctors, so when it came to marketing their company they knew they needed guidance and direction to help them attract a steady flow of new clients throughout the years.
Process:
Over the course of 1 year we worked on:
Re-designing their business model to offer multiple transaction points making it much easier to bring on multiple levels of new clients.
Profiling their most lucrative target market.
Communicating their unique value proposition.
Creating a systematized process for their business development.
Improving their proposal process to close more engagements.
Result:
After just 1 year the client was extremely happy with the changes:
His website and marketing collateral all had much improved messaging.
He now had an automated online system for capturing new interested prospects for his team to follow up on.
They doubled the responses and enrollment into their programs.
He closed his first 6-figure client engagement!
Key Benefit of Business Coaching Case Study #3:
Created a Stellar Sales Team
Problem:
The President of a multi-Million dollar service company was needing an outside business growth expert to help develop and groom his team to improve their performance. The client knew if you’re going to invest in your business — invest in your people. The key problem was that the company had not yet developed turnkey systems and processes for business development and office management.
Process:
Over the course of 2 years:
I coached (and still coach) his Business Development Manager, several of his key Account Executives, his Office Manager and an Assistant Manager
Sales team coaching focused on: time management, prospecting, business development, closing bigger sales, preparing winning proposals, retention strategies for existing customers & managing high-stress levels.
Business Development Manager coaching focused on: motivating his sales team, coaching & training for skill gaps, plus preparing effective sales meeting content.
Office Managers coaching focused on: motivating employee productivity, creating positive culture, training, and developing new hires & overall organizational skills.
Result:
The client is very pleased with the progress of his people and continues investing in ongoing coaching for his organization.
The sales team in the field and the office team is now working together much better than before. There is greater synergy and unified approach.
The company’s sales have increased from previous years.
Individual book of business of account executives has increased from previous years.
Stress level in key people has notably improved which also improves the overall atmosphere in the company.
Time management has improved allowing account executives to be less stressed, more confident and better prepared for new clients.
Organizational skills has improved which increased both individual and team efficiency in getting things done.
Improvements in training and developing new hires showed increase in productivity, efficiency and effectiveness.