Founding partner of CEO Advisory Guru, LLC. Best-selling author of The Private Equity Playbook and The Exit-Strategy Playbook.
If you’re like thousands of other business leaders around the world, you’re probably working with an executive coach (or strongly considering it). If you are, I can say with confidence that you are on the right track: Study after study has shown that working with a CEO or leadership coach can lead to numerous benefits for an executive’s business, including higher revenue, increased productivity, less turnover and greater customer satisfaction. And, as if this host of benefits isn’t enough, one study reported coaching clients experience a staggering 10 to 49 times ROI.
These findings are directly in line with my own experience. During my 21-year career as a CEO for three national private equity-backed service companies, the coaches and mentors I had were foundational to my success; in my current capacity as a CEO coach, I see that same truth play out for my clients every day.
These positive outcomes aren’t limited to a special few; they are accessible to anyone who is willing to fully engage with the process. In other words, if you want to get the maximum value possible out of coaching, you must be willing to commit, show up consistently and implement the plan.
1. Commit to the process.
As we dive into how you can get the most out of coaching, let me be clear: the very best coaches and coaching programs in the world can’t help you if you aren’t willing to commit to the process. To see why, think about the people you know who pay for a monthly gym membership. The gym probably has state-of-the-art machines and top-notch personal trainers, right? And yet, those things aren’t a guarantee of success.
What is? How committed each individual is to the process. The difference in outcomes between those who make it a priority and commit to it versus those who don’t is drastic. The same is true for coaching clients.
In my own practice, I have both types of clients. The amount they pay is the same, and the information and value I can give them is the same. However, just like gym members, their outcomes are markedly different. The ones who commit see the value. The ones who don’t…don’t.
If you have a coach (or are planning to start working with one), I recommend creating a regular rhythm for your coaching sessions. Doing so will make it easier to fully commit to the process. Book a standing call with your coach—weekly, biweekly or monthly—and treat that time as sacred. Set aside time regularly to work on implementing the strategies your coach shares with you, too. By creating a rhythm and committing to it, you will be forced to engage with the process, and that will make it far more effective.
2. Show up consistently.
When you establish a regular rhythm, you move one huge step closer to reaping the many benefits of business coaching. But making time for that rhythm—rather than letting it fall by the wayside because you’re too busy—is crucial, too.
Some time back, a CEO signed up for a coaching program that included weekly calls with me. He missed 75% of the calls every month because he was too busy being busy to keep the appointments. Eventually, he dropped out of the program.
Look, I get it. We’re all busy, and carving out space in the week isn’t always easy. But a large part of succeeding as a business leader comes down to forcing yourself to take time out for strategic thinking and planning. Sure, you might have a good outcome without setting aside that time, but if you do, it’s often because of luck.
When you’re too busy being busy to do anything else, the best you can hope for is to ride the wave—and eventually, the wave will crash. By taking time for strategic thinking and planning (especially with a coach), you can guide the wave instead.
3. Implement the plan.
Finally, you have to be willing to implement the plan that you and your coach come up with. Of course, you may not execute on every suggestion they make. You absolutely have the right to decide what makes sense for your business and what doesn’t. But remember, it’s like that gym membership: You can’t just pay the monthly fee and have some conversations about fitness with your trainer. You have to get on the machines and do the exercises they tell you to do over and over again. Otherwise, you’re not going to get the results you want.
The business world today is facing all sorts of pressures. Between inflation, market volatility, wars, pandemics and lockdowns, things are tough out there, and they’re even tougher if you try to go it alone. A coach can help you navigate the uncertainty and come out stronger than ever—but only if you uphold your side of things and do what they tell you to do.
So, decide whether you’re ready to go all in. Are you ready to carve out time to meet with your coach regularly? Are you willing to make time to execute on their advice? If the answer is anything other than a resounding yes, rethink your priorities.
Dedication is key.
When I talk to people about working with a coach, they sometimes ask me how important it is to find a coach that’s exactly the right fit. Of course, chemistry is important. You may vibe more with a coach who takes a more experiential approach, or you may prefer someone who has a particular communication style.
However, there is something far more crucial to success: your level of dedication to the process. Commit, show up and implement consistently, and you will find the value that so many other business leaders have also enjoyed. Take a more lackadaisical approach, and I can almost guarantee that you will struggle to realize the returns that would otherwise be within your grasp.
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