Many people ask is a business coach worth the invenstment? It all depends on the coach of course. Many coaches are not very experience. I would never hire one who has not run their own business before and has 5+ years managing a team of people. You need someone who has done before EXACTLY what you want to achieve ideally. So if you want to take a $500,000 company to $20 million you should try to find a coach that has done that - not as a coach but as a CEO.
Coaches have a lot of value but many do overcharge. I charge $600/month for a basic program for startups and $800/month for an established (profitable) company. This is one meeting a week plus email support.
Of course I am biased because I was a CEO for 14 years before I starting my current coaching, consulting and training company for CEOs and entrepreneurs. However, would you hire a football coach who never played football? The franchise operations give these inexperienced people a framework that helps but it cannot give them real-world experience. Ideally you want ALL of the following from a business coach:
1. Experience doing just what you are trying to do as per above example (big picture)
2. High analytical and intellectual capability to see and understand problems and provide another perspective
3. Systems and frameworks for management, leadership and operations (experience)
4. Creativity to approach problems with fresh ideas
5. Ability to be direct and point out your weak spots, both personally and as a company, to have a plan to deal with those
6. Hold you accountable
Many "franchise" coaches do only #6 and a little of #3 with simple profitability frameworks. Many independent coaches have "Corporate" experience in management but are not "been there, done that" entrepreneur that have grown a business. You really cannot go to school or get certified in coaching and expect to be a good one as it comes from real-life experience, not a classroom.
I would guess less than 5% of the coaches meet the criteria I am laying out here, as few people with this levels of experience go into coaching.
There is a little about my program and some statistics here: http://clevelenterprises.com/coaching.htm
and my management systems for companies preparing to really scale (larger opportunities that want to go to 50-1000 people) here: www.AirTightMgt.com
Bottom line is not having a good coach will cost you a fortune in mistakes, missed opportunities and time but finding a good one is not easy. Use the checklist above. I am not the best coach for every situation but would be happy to give you a free session to see if there is a fit. I would be overkill for many as my specialty is rapid growth opportunities.
BTW understand that an Executive Coach for someone climbing the ladder in a large corporate environment is very different than a Business or Entrepreneurship coach. The stage of development of the company is critical and each requires different skills and an adjustment in the way you manage and lead. See one of the 150 videos I provide to my clients on stage of development here: https://vimeo.com/airtight/review/96213080/26ee6e8005 for an explanation on this concept which few people really understand well.
Bob Norton is founder of AirTight Management and many other companies since he began his career in 1981.
He act as a consultant and coach to CEOs, entrepreneur as an expert on scaling business and best practices in Management and Leadership
He is an author, speaker and thought leader in Managemnt SYstems and invented AirTight Management, the first ever standard proposed for Management Systems of SMBs.