International Coach Federation
Business Coaching Statistics: How to Gain a Competitive Edge During a Recession
Here are some interesting statistics to consider if you own a small business or internet business. Did you know business coaching statistics show that applying the skills of a business coach is a great way to keep your business ahead during a recession.
It is predicted that for a small business owner to be able to work competitively on their own will become more challenging. During this recession especially, when the competition among companies is exhaustingly fierce, it becomes crucial to look for assistance to give you that competitive edge.
Business coaches give you an outside perspective on how your business is running. Because this is something most businesses do not bother to find out, this in itself gives you a lead over your competition.
A practice development research revealed that 42% of businesses don't use a business coach. This same study though, found you can increase your profit margin by an average of 46% by using a business coach.
Thus 42% of businesses are missing out on a 46% profit increase. If you among that group you may want to carefully consider if you can afford to not use a business coach.
An article posted on affiliatedragon.com stated that having your own internet business was the last weapon against a recession. However, as we've seen more businesses both off and online negatively affected by this slow economy, having your own business isn't a fool proof plan. However, hiring a business coach can be the difference between those that struggle and those that survive.
To help them develop plans to build profit-growing businesses even during a slow economy many business coaches show their clients how to navigate their way through changing economies. Giving them another competitive advantage.
A study conducted by the International Coach Federation surveyed 210 coaching clients for demographic data and feedback /opinions about the value and use of coaching. The study revealed that those who were coached had a positive change in personal work habits. This is instrumental to changing your business during a recession.
Below is some of the business coaching statistics gathered by this study.
62.4% smarter goal-setting
60.5% more balanced life
57.1% lower stress levels
52.4% more self-confidence
43.3% improvement in quality of life
25.7% more income
Those are just a few of the outcomes found through the study.
What we see is the number of people who are experiencing positive personal development skills to apply to their business. It's not just about dollars and cents and most times companies who are struggling have a personal reason linked to their financial struggle.
Some more interesting business coaching statics were those that we don't immediately link with business for example, 33.8% saw their health or fitness improve, 33.3% had improved family relationships and 25.7% stopped a bad habit.
Although we don't immediately associated something like stopping a bad habit to having an effect on our business, the fact is something like being lethargic can affect your work habits. To find out what may be keeping them from advancing their business clients can turn to business coaching.
Sometimes it's a simple as learning how to organize their office in a more effective and efficient manner.
The business coaching statistics found in this study prove that even during a recession businesses that use coaches can still thrive when they take advantage of the skills offered by a business coach.
About the Author
Lyn Troyer and his Niche Power Group teach beginners how to make money online in niche markets with affiliate marketing. Please visit their online business coaching website here to learn how you can go from making nothing to a full time internet income in 12 months or less. http://nichepowergroup.com
International Coach Federation GTA Chapter Fall Conference 2009
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