Your success measure will depend on which key business areas you focus on with your coach. There are several ways to measure the success of a business coaching engagement :
Increased Revenue and Profitability
The primary goal of business coaching is to help businesses grow, so an increase in revenue and profitability is a good indicator of success. You can also use an ROI lens. Calculating the return on investment (ROI) from the coaching engagement by comparing the coaching costs to the benefits realized can give a financial measure of the coaching's success.
Your key performance indicators (KPIs), like total sales, revenue, profitability, productivity, waste reduction, customer satisfaction, employee engagement, employee performance, and employee turnover, shall show improvement. Coaching engagement will indirectly impact these figures even if you focus on something other than these KPIs.
Enhanced employee capability
If focused on employee capability and productivity, a successful coaching engagement should upskill your employees, resulting in greater job satisfaction and productivity.
Business coaching should also result in a positive shift in the organisational culture, leading to improved collaboration, teamwork, and communication.
Observing client behaviour changes, such as improved communication skills or increased confidence, can signify successful coaching engagement.
An effective coaching arrangement shall result in long-term sustainable performance. This will be reflected in your operational KPIs, business owner's behaviours and employee engagement.
Tracking the action plan developed during the coaching sessions can provide a short-term tangible measure of the coaching's success.
Book a complimentary coaching session with Atif and walk away a simple action plan. Our free "Business Health Assessment" will also help you discover the areas you need to focus on to build a sustainable and self-propelled business.