According to a global study commissioned by the International Coach Federation and carried out by independent research firms PricewaterhouseCoopers and Association Resource Centre Inc., it’s official:
Companies that use or have used professional coaching for business reasons have seen a median return on investment of seven times their initial investment.
The ROI was obvious for Jon Heisler, Vice President at Bernstein Global Wealth Management. When we started working together, Jon identified the goal of generating $100 million dollars in new clients (managed assets). By October, he had surpassed that with $114.5 million.
Looking back on our work together, I’ve identified his top three million-dollar accountability strategies. Maybe you should try them, too!
1) Focus on the desired outcome – If you don’t know where you’re going, you’ll wind up somewhere else. I worked with my client to choose a specific goal that was out of reach, but not out of sight. We checked in every two weeks about his progress, measuring the goal that was most important to him. In between, he just kept showing up.
2) Enlist a partner – “It’s lonely at the top” no longer just applies to those just at the top. It’s just plain lonely out there right now period, isn’t it? It doesn’t have to be that way! As his coach and partner, I held my client accountable, but I didn’t make him accountable. Rather, I helped him identify and handle whatever was getting in the way of success.
3) Use help effectively – I could see from the start that my client was wasting time doing things that other people could do. One of the most important things we did was equip him with some coaching techniques that would help him improve his interactions with other people. By learning simple techniques such as asking open-ended questions, listening (really listening) and then recapping what he heard, he helped them to help him.
Of course there was a lot more to this $114-million dollar story. You can click here to read what Jon had to say about his experience with coaching and accountability.
There will be more to your story, too. What might be different in your business tomorrow if you were to start applying even one of these accountability strategies today?
If you would like to discuss the other 5 million-dollar accountability strategies Jon used, please contact us today.