Midlands-based coaching firm proven once again to be lifechanging
Independent research firm WorkBuzz recently completed its annual survey of entrepreneurs using a business coach. The results from budding business owner respondents from across British industry sectors show the statistics are even more impressive than last year – a staggering 99% of business owners in the West Midlands now say that business coaching makes a positive difference to their lives.
The 720,164 companies in the West Midlands currently account for 7.9% of all businesses in the UK*.
Yet, whilst some businesses are starting to recover from the damaging aftereffects of the pandemic, current pressures, such as the cost-of-living crisis, mean business owners are struggling once more to help their vision become a reality. With research suggesting that companies with a business plan grow 30% faster than those without**, a smart business partnership may just be the difference between business failure and success.
Focusing on ActionCOACH firms across our region, the survey introduces the Client Advocacy Score (CAS) index – a reliable predictor of client satisfaction, client retention and the likelihood of referrals. Comparable to the Net Promoter Score (NPS), this key measurement is used to gauge the client’s overall satisfaction with the service, indicating whether the current coaching standard will convert into new leads and a higher revenue for the company overall. With universally renowned tech company Apple receiving an NPS score of 72 this year, ActionCOACH firms based in the West Midlands are proving the importance of business coaching exceeds any materialistic value. This year, locally based coaches received a CAS score of 89.
The survey results also demonstrate the benefits of business coaching aren’t limited to high-revenue clients, with clients of multi-million and less than £50,000 business revenues both awarding Action Coaches in the West Midlands the highest CAS score of 100. The success that comes as a result of the coaching sessions isn’t short-lived either, with 100% of clients stating their Action Coach makes a positive difference to their business and is worth the investment two years on.
ActionCOACH Warwick & Coventry has found business coaching to be transformative for his clients. And the team’s results speak for themselves – 100% of their clients surveyed claimed coaching makes a positive difference to their business and is worth the investment. “My coach Kevin has fantastic real-life experience - not only can he talk to me about strategies and the theory of them, but he can talk about how he has personally used them in his businesses,” says Charlotte Pitts, Managing Director of The HR Consultants. “We have experienced significant growth - my team has expanded, and our processes are more developed to support the size of the business that we have now. I’m also more confident personally in my role as MD and within my leadership team.”
Kevin Riley, MD at ActionCOACH Warwick & Coventry, adds, “With the continued stresses of our economy, businesses will need to keep focused – business coaching is a way of accessing the expertise you may not already have at your fingertips or within your company to find your path in 2023.”
* HitHorizons, 2022, Companies population in West Midlands
** Business4Beginners, 2022, 81 UK Small Business Statistics
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