Great question as of course you are making an investment. Although that investment is beyond the financials and the value is likely to include other tangible benefits, then it is often a FAQ.
Proving that a business will make more money with the support of a business coach like myself involves demonstrating tangible value through strategic interventions and measurable outcomes. Here’s 10 ways that I can assure business owners that engaging with me will lead to financial growth:
- Baseline Assessment and Goal Setting: The first step is to conduct a thorough assessment of the current business performance. By establishing a baseline, we can set specific, measurable goals for revenue growth, profitability, and other financial metrics. This clarity allows the business owner to see the direct correlation between coaching interventions and financial outcomes. I use tools including my kickstart questionnaire and the business model canvas to create this initial overview.
- Focused Strategy Implementation: Based on the businesses unique challenges and opportunities, I’ll help devise and implement focused strategies aimed at increasing revenue and reducing costs. This might include optimising sales processes, refining marketing strategies, or identifying new revenue streams. The focus could be taking the value to market for lead generation or how to best deliver the promise, or even a blend but it is different for each business. Therefore demonstrating the ROI of these strategies through increased sales or cost savings will be a tangible proof point. I don’t “tell” you what to do, but together we agree the right strategy, model and plan to execute for the results desired.
- Clarity with a plan: I’m not the type of coach that just throws tools at you in each session. I help you build a plan with clarity on what you want to achieve. We look forward but think about the journey. I’ll break this down into managable steps with the business owner and ensure we keep on the desired trajectory. As James Clear says in his book Atomic Habits, if we took off on one side of America but got the coordinates wrong by just a couple of degrees, we will end up in a very different plan when we get to the other side! So my role is to identify the pace of my client, stretch and challenege when I can, but keep the focus on the plan that delivers the desired, measureable, outcomes. A plan with clarity helps the business to manage everything, prioritise and maximise every moment, action or task. It worked for my businesses, when I ran 4 at once! It works for my existing clients.
- Performance Tracking and Reporting: I love numbers, but not just the outcome in your accounts but the ‘success drivers’ in your business. After all the majority of things come back to a number! Those KPI’s that move the needle. Creating a scorecard, regularly tracking and reporting of key metrics are crucial. By setting up a system that clearly tracks the financial impact of changes made, the business owner can see the direct benefits of our work together. This includes not just looking at revenue growth, but also at profitability, cash flow improvement, and return on investment for specific initiatives.
- Relevant experience: I’ve ran my own businesses (six in fact!) and supported hundreds more. I know what works and the pitfalls. I’ve proven to help businesses make more money, save money and get to the goals quicker by avoiding the mistakes made by others and following the proven ways executed by others with success. Due to my knowledge, expertise and experience of working in the sectors I support, then I’ll share what works, what to avoid whilst also bringing some cross-sector examples.
- A holistic approach wins: All areas of your business are linked, so to maximise your return on investment I encourage my clients to consider all the elements of the business. Other coaches may just focus on sales or operations in isolation, but without a holisitic view you hard work may be generating a return that is leaking elsewhere. I share my experience to understand how different areas of the influence each other and provide the overall objective. For example, marketing generates the leads, that sales have to convert before the effective onboarding and operational excellence to deliver the promise. All contribute to the effective money generating business you desire and deserve.
- Continuous Improvement and Scaling: Although we will find the quick wins and maximise the low hanging fruit, it isn’t just about short-term gains; it’s also about setting the business up for sustainable growth and success (as defined by te owner/s). By continuously identifying areas for improvement and scaling successful strategies, I can help business owners to not only see immediate financial benefits but also ensure long-term profitability and business health.
- Risk Management and Mitigation: Part of increasing a business’s profitability is reducing risks that can lead to financial loss. I can work with my clients to identify potential risks to their business and develop strategies to mitigate them, thereby protecting and potentially increasing the business’s income.
- Personalised Financial Literacy: Enhancing the business owners understanding of financial management, budgeting, and forecasting as part of my support can have a direct impact on the business’s bottom line, short and long term. By improving their ability to manage and allocate resources effectively, the business owner can make more informed decisions that positively affect profitability.
- Introductions: I love connecting people and actively seek new opportunities for my clients from within my network.
Additionally, I should mention my Case Studies and Testimonials: Sharing success stories and testimonials from other entrepreneurs I’ve helped can serve as proof of the potential financial gains from my support. These stories, especially if they come from similar businesses with similar challenges, provide concrete examples of how my support led to significant improvement.
By focusing on these areas, I can provide Jon with not just the assurance but the evidence that engaging with a business coach will lead to financial growth. It’s about building a partnership where Jon’s success is the ultimate proof of the value of business coaching.
Of course, there can not be any specific guarantees as a Business Mentor or Business Coach are not executing, but with effective guidance, the right questions and focused accountability on the ‘High Pay Off’ activities, then financial growth in terms of revenue and profit is extremelly likely even if the plan is not 100% executed.
