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If you want to become a more successful business owner or executive, coaching could be the answer. With the right coach, you can expect exponential growth both personally and professionally. 

At the heart of it, the relationship between a business coach and business owner/professional is built on trust. If a new business owner has limited experience, a professional coach can actually help speed up growth through feedback. If business leaders need support increasing their executive presence while boosting revenue, a coach can help put together a plan. 

But it doesn’t stop there. The best business coaches challenge their clients to greatness. In fact, some of the most powerful coach/client relationships can span years. These relationships can deliver long periods of substantial business growth. 

Imagine the power that is unleashed when you partner with a personal professional development business coach who deeply understands your company — as well as your strengths and weaknesses.

Before you invest time, money, and energy into a business coaching relationship, you need to do your research. Not all business coaches are created equal. Here are a few key traits to look for in a successful business coach: 

• Look for success stories from individuals who have worked with this professional development business coach before. Testimonials will tell you the truth about how beneficial this coaching relationship can be. 
• Consider how many years of experience this professional development business coach has. If you’re a 50-year-old CEO, you probably don’t want to be coached by a 30-something who’s only been running a business for a couple of years. 
• See if they have actual coaching certifications. Anyone can call themselves a coach — consider if you’re comfortable working with someone who’s never undergone any training. Remember, this is a formal relationship you’re starting in order to see real results from your work. It’s not like asking a coworker to be your mentor. 
• See if they offer any free business coaching sessions or events. By having a consultation call with the coach or attending an event they’re leading, you can get a feel of if you’d enjoy working with them. 
• Make sure the coach is aligned with what you need. Maybe you’re interested in a life-coaching approach, or you specifically want a small business coach. Either way, get specific about what type of coaching you want and then look for that. 

Here are some other benefits that result from effective professional development business coaching:

• Revenue growth: Boosting revenue and increasing market share are the main reasons leaders seek out business coaches. Not only can business coaches navigate the complexities of a financial spreadsheet, but they can also work with leaders to explore and remove limiting beliefs. The combination can result in exponential growth and a direct impact on the bottom line.
• Resilience: One of the greatest traits of a strong executive or business owner is the ability to bounce back from even the biggest of setbacks. That’s why business coaches teach an array of resilience-building strategies, like positive psychology and challenging negative assumptions. 
• Leadership: Many business coaches are not only trained coaching experts, they’ve also served on the front as company leaders. Consequently, they are a unique leadership partner who can serve as a mirror to executives expanding their skills. 
• Team-building: Building an executive leadership team is more art than science. First, there’s identifying the holes in an organization that need to be filled to drive expansion. Second, and more importantly, there’s pulling together the right chemistry of people who will respect, challenge, and complement each other. Business coaches can provide counsel on both issues, and even meet with prospective executive hires to determine fit and skill.

While hard and soft skill development is essential, it’s the overall results of business coaching services that deliver the biggest return on investment (ROI). Here are some statistics to show you how big the ROI can be for companies who invest in business coaching: 

• According to The Institute of Coaching, an affiliate of Harvard Medical School, over 70% of coaching recipients experience a marked improvement in relationships, communication, and work performance.
• One study found that executive coaching could have as much as a 788% return on investment for the companies surveyed.
• A study of Fortune 1000 showed that the average ROI on executive coaching was almost six times what they originally paid for the coaching services.
• The Harvard Business Review found that companies who heavily invested in employee development (including coaching services) performed better in the S&P 500 during 2003.

As a coachee works with their coach, they will learn valuable coaching skills for themselves. They can then apply these skills to coaching their own team. As a result, the impact of just one executive coach can trickle down to the entire organization. That’s an incredible way to help a company and its employees realize their full potential. 

But how do corporate leaders and business owners acquire and hone their coaching skills? Business coaches can teach coaching by simply exposing leaders to masterful coaching. 

What’s more, within a coaching session, a leader can role-play and practice coaching with a business coach. This leads to higher and higher levels of coaching competency and confidence. In time, a leader’s ability to coach well can directly impact the bottom line and overall company health.

It may sound like hyperbole, but business coaching has been shown to mean the difference between success and failure for budding entrepreneurs, business owners, and corporate leaders. Even seasoned veterans appreciate the unbiased and apolitical input business coaches provide. 

In truth, regardless of experience, no leader comes naturally endowed with the ability to handle the business demands of a multidisciplinary world. All leaders need support to grow to the next level, and one of the best ways to get that support is with a business coach.