Is Business Coaching Worth the Investment?

More than one-third of people in the UK want to start their own business in the future.

While the entrepreneurial spirit is alive and well, an estimated 4% of new businesses will cease trading by the end of its first year. Cash flow management is a significant driver of failure, but lack of guidance, mentorship and support can also make it challenging for entrepreneurs to realise their goals.

Could business coaching be a solution to this problem? Is coaching really worth the investment?

Data suggests that 92% of small business owners believe mentors directly impact their growth and their business’s chances of survival. Let’s explore the world of business coaching and its ROI to learn more.

What are the Benefits of Business Coach Investment?

To determine whether a business coach is worth the investment, consider the ROI. What can a business coaching programme offer you.

Consider the following benefits:

A Coach Serves as Your Mentor and Compass

One of the greatest advantages of working with a coach is that they can serve as your mentor and compass. They can help ensure you’re on track to realising your goals and offer an outsider’s perspective on which direction to take next.

Coaches often bring a wealth of experience and knowledge to the table, which you can tap into to avoid pitfalls and make more informed decisions.

A Coach Holds You Accountable

Even with a thorough business plan and innovative product, you’ll struggle to realise your vision if you don’t take action. It’s not enough to have a plan; you have to follow it.

Here’s where a coach can be invaluable. Along with inspiring you and offering guidance, they will hold you accountable. 

Often, entrepreneurs are held back by fear or self-limiting beliefs. A coach’s job is to push you to face your fears, have tough conversations and take action so that you don’t put your dreams and goals on the backburner. 

A Coach Helps You See the Big Picture

Whether your goal is to launch a business or grow your existing one, it’s easy to get caught up in the day-to-day operations and challenging to see the forest for the trees.

A coach can help you see the bigger picture and blind spots you hadn’t thought of, so you can address these issues and move forward with confidence. 

A Coach Helps You Forge a New Path and Navigate Challenges

Whether you’re a new business owner or a serial entrepreneur, you know that it can be difficult to get out of your own head and consider new pathways to success.

A business coach can open your eyes to new methods and strategies whilst raising awareness of key issues you may have overlooked. When faced with challenges, a coach can help you see your options more clearly and make decisions based on data and logic – not emotion.

A Coach Helps You Break Free from Self-Limiting Beliefs

Perhaps one of the most overlooked benefits of hiring a business coach is that they can help you break free from the self-limiting beliefs that are holding you back from realising your potential.

Business coaches offer supportive environments and help entrepreneurs cultivate a growth-oriented mindset. 

What Types of Coaching are Available?

You know that coaching can help your business grow and provide a wealth of other benefits, but is a coach accessible to you? If you’re a small business owner, you may assume that coaching is only for entrepreneurs or executives. However, that couldn’t be further from the truth.

There are several types of business coaching in the UK, including:

One-on-One for Small Businesses and Entrepreneurs

For tailored, individual guidance and mentorship, one-on-one coaching is the ideal solution. A coach can help you overcome specific and unique problems affecting your business and build a roadmap to success. 

One-on-one coaching isn’t just for entrepreneurs. It’s for the 1.4 million small business owners in the UK who want to take control of their growth and realise their goals. 

Group Coaching Sessions

Whether you’re just exploring the idea of coaching, prefer to work in a group setting or working with a tighter budget, group coaching can offer many advantages.

In addition to equipping you with the tools and strategies you need to succeed, group coaching allows you to network with other like-minded business owners.

Executive Coaches

Executive coaching can provide new perspectives and insights to drive performance and accelerate success. From launching profitable initiatives to ensuring everyone in the organisation is aligned, an executive coach will take a holistic approach to improving revenue and growth.

Online Coaching And In-Person

In today’s digital world, business coaching sessions are available online and in person, making them more accessible to business owners across the UK.

As you can see, there is a business coaching option for virtually every business owner, entrepreneur and leader. With tailored and focused options available, coaching becomes even more worthwhile and a key driver of growth and success.

Is Business Coaching Expensive?

Determining whether coaching is worth it ultimately comes down to whether you will get a great return on your investment. The question is: how much does business coaching cost?

Business Coaches' Charges in the UK

Exact figures will vary, but the average business coaching cost in the UK can range anywhere from £1,500 to £3,000+ for individual coaching. The average executive coaching cost will be similar or slightly higher.

Group coaching will have a lower price range of £200 to £1,000 per month.

It’s important to remember that business coaching rates can vary widely depending not only on the type of coaching but also:

• The coach’s experience and reputation
• The scope of the services
• Frequency and duration of sessions
• Complexity and size of your business

Why Business Coaching Services Are Worth the Investment 

When it comes down to it, the average small business coach cost is negligible compared to the return you receive. Increased growth and revenue are just two tangible results you can see with coaching, but owners also gain skills, strategies and connections that help them run their businesses more efficiently and effectively.

Over the years, our Action Coaches have helped business owners across the UK achieve fantastic results. 

• Petpals lost 90% of its business at the height of the pandemic, but with the help of Action Coach Jeff Williams, the franchise tripled its turnover within six months.
• Through coaching, Natalie Allen, owner of NS Property Solvers, discovered new opportunities for growth through the acquisition of an estate agency. Over 18 months, the organisation went from managing eight properties to 57.

The initial cost of coaching can drive long-term, sustainable growth that makes it worth the investment many times over.  

Want to see how a business coach can help your business? Book a free strategy session to find out how the support of an Action Coach can help your business grow, succeed, and thrive.

Book now