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Do You Need a Coach? Good Revenue Coaching Yields $1 BILLION in New Business

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Do You Need a Coach? Good Revenue Coaching Yields $1 BILLION in New Business

May 24, 2017
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I was in Vegas a few weeks ago, mixing a little business with pleasure. Saw The Chainsmokers at XS – amazing show. Anyway, I was hanging out with some very successful guys, and the topic of coaching came up. A spirited debate ensued as to whether coaching had the most impact upon a professional athlete’s career – or whether success was chiefly internal.

One of them said to me, “Name a super-successful athlete who does NOT have a coach or mentor they credit with taking them to the next level.”

I thought about it a little bit. There had to be one out there. But the more I tried to find an example, I couldn’t. Everyone, from Michael Jordan to Tiger Woods to Mike Tyson, had credited a coach with having a deep impact at some point in their careers.

The conversation quickly moved on to other subjects, but I kept mulling this one over in my mind. Finally, I had one of those “aha!” moments where I felt really smart, because I narrowed it down to almost a natural law. Here it is:

“Behind every amazing athlete are two main factors: 1) strong natural talent 2) a coach who helps develop that talent into greatness.”

Okay, now that I wrote it down seems kind of obvious. But the interesting thing is that this “natural law” applies not only to athletes, it applies to most human endeavors. Take business for example.

We all have known the salesperson who, despite going to various sales seminars and reading lots of books on selling, just cannot perform. They are missing the “it” factor – which is natural talent. They never really make it, despite all the mentoring or threats in the world.

Conversely, I am sure you have witnessed the salesperson who comes new to the game but has that “aura” of natural talent. He or she takes the training and makes some sales. While they might continue along like this, making steady sales and a decent living, it’s when they get some personal coaching to refine that natural talent that they often transform into sales superstars.

Executives also benefit from coaching. In fact, I find that the larger the company and more sophisticated and talented the C-level contact is, the more receptive they are to using coaches and learning from specialists.

Perhaps it is because they’ve caught wind of some of the statistics related to executive coaching. An oft-cited study of executives at Fortune 1000 companies by Manchester Inc provides the following tidbits regarding those who received coaching:

  • 77 percent reported improved working relationships with direct reports
  • 67 percent reported improved team work
  • 61 percent reported improved job satisfaction
  • An average ROI of around six times the cost of the coaching

 

I love when I find statistics to back up my point. But the problem I have with this study is that it was done in 2001. To put it into perspective, that’s before Facebook, Twitter, YouTube, and LinkedIn were invented. That shit’s too old.

So are there more recent stats which still corroborate my point? Yep. Sherpa Coaching’s 2017 Executive Coaching Survey reveals this:

  • Over 90 percent feel the value and credibility of coaching was high
  • One of the most-cited benefits was an improved sense of self-awareness, which leads to noticeable improvement in behavior
  • Having a coach is now the mark of an up and coming leader

And a 2009 ICF report states that nearly fifty percent of those who used coaching experienced an ROI of between 10 and 50 times what they paid. Holy smokes, this is even better than 2001!

But there is so much more to coaching than the ROI, which less execs are using as a benchmark for coaching success, preferring to use 360 Feedback or IOB to gauge results per Sherpa. A good coaching relationship can have lasting effects outside of the workplace.

For those who work with Millennials, now the largest generation ever, there is another compelling reason to invest in coaching for them. They prefer to work for companies with good coaching or mentorship programs. If they aren’t learning and growing from someone they respect – they LEAVE.

I consider myself the Revenue Coach for my customers. However, my relationships with them usually extend past that and I get to know them on a personal level. And a lot of them share that my coaching impacts their personal lives positively as well.

Stuff like less stress, being better able to deal with spouses and children, enjoying more leisure time – these are just some areas where executive coaching spills over into the rest of day-to-day living and why everyone needs some coaching. Its benefits are simply too valuable to do without.

And now for some tangible results – I am happy to report that I tallied up the figures for each company and, cumulatively, my clients have gained $1 billion in NEW revenue since starting the Volohaus process with me. That’s around the GDP of a small country, I think. Not to toot my own horn, but toot toot!

toot hirn

Tooting my own horn

Here’s one of my clients:

“As a startup the most critical component for us was revenue growth, we needed a proven person to help drive our business and grow revenue in new markets.  Shaun Alger and his leadership helped us with hiring, growing revenue and raising capital.  His depth of business experience and connections were invaluable in helping us get to the next stage of our business.  I would recommend Shaun for anyone who wants to grow revenue and create a robust sales process.”

travis

Travis Fisher
President
TicketSauce

Most of my business comes from word of mouth and referrals, but I would love to offer you, dear reader, a free consultation with me, the Revenue Coach. Even if signing up for the Volohaus process isn’t the right choice for your business at the moment, it cannot hurt to have a brief chat with an external coach and explore.

As Nick Petro of NDMR says, “We were referred to Shaun. He is a titan in the SoCal community. Shaun met with us multiple times, FOR FREE, and shared his biz, marketing and sales expertise to help pivot our company. I would recommend you talk to him.  You will learn something – that is usable and proven!  We were impressed by Shaun’s generosity.  His “pay it forward” passion was awesome”

Please call me at 760.815.4464 or email me at shaun@volohaus.com so I can pay it forward to you.

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