Business coaching is an emerging industry that has grown an average of 5.3% annually over the past five years. With so many coaches out there, how do you know which one to choose and whether it’s worth the investment?
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“A strategic coach can help you gain a big-picture perspective on what your true strengths are and help you identify self-limiting beliefs about your earning potential or the nature of the market,” says Tracking. – said Jeffrey Davis, CEO of Wonder Consultants.
GOBankingRates spoke to Davis about three reasons why hiring a career coach can help you earn more.
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you are in transition
The Harris Poll found that 52% of U.S. workers are considering changing jobs this year, and 44% actually plan to change jobs.
Whether you’re looking to change jobs or start your own business, the best time to hire a coach is during your transition period to help make the transition smoother.
Davis provides strategic guidance to career professionals and entrepreneurs at every stage of their career and business development. Many of his clients come to him during times of transition.
For example, Davis has worked with investment firm heads who need to sort out a new midlife identity while rethinking their companies, entrepreneurs who have sold their companies and are wondering about future opportunities, and self-employed individuals. mentored employees who took time off from work to rethink the company. I was ready to start my business.
“Over the course of several months, a strategy coach will provide advice to help you define the best strategic moves to make and help you take the next steps,” Davis said. “The most effective coaches listen deeply and actively without judgment, ask pointed questions, and help map the next best strategic move within constraints.”
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I want to take responsibility
The transition can be difficult without professional and personal support to ensure the best outcome.
According to researchers at the American Society for Training and Development (ASTD), people have a 95% success rate in achieving their goals when they have commitments to people who are committed and have specific responsibilities.
Davis builds accountability into her coaching practice by meeting with clients individually or as part of a “mastermind” group. Clients learn principles for overcoming situations that forced them to hire a coach, set goals, engage in meaningful actions, and report on their progress.
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“Each member of my Mastermind Circle is a professional in a different field,” Davis said. “Yet, they learn how to provide valuable, diverse perspectives and grounded encouragement to each other to achieve their goals. Diverse perspectives foster innovation and profit.”
want to develop leadership skills
Davis’ belief that “we win together better than by ourselves” counteracts the cultural myth that business leaders are lone wolves and that leaders are born, not made.
“Business leaders need coaching,” Davis says. “Very few people feel as though they are a ‘natural’ leader. My entrepreneur and business owner clients learn how to effectively lead small teams. By fostering team relationships, everyone benefits and the business benefits.”
Davis said his employees, his private customers, are learning to foster healthy relationships with co-workers, organizations, clients and customers.
“These relationships typically lead to new opportunities and a consistent channel of referrals,” he said.
What to do before hiring a coach
Coaching is an unregulated industry, with many people selling frameworks that claim to help you achieve your wildest professional dreams.
Make sure your potential coach has a track record of success in helping clients like you reach your destination. Before you hire a coach, ask for referrals from friends and colleagues. Do a Google search to find a coach with the skills you need. Research potential coaches on TrustPilot.
Finally, once you find a potential coach you like, ask about their experiences and talk to their clients directly.
If a coach meets your criteria, hiring one can be one of the best investments you can make in yourself and your future.
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This article originally appeared on GOBankingRates.com: I’m a career coach: 3 reasons why you can make more money by hiring people
