Finding the right CEO coach may be the most crucial step you take to grow your business. When asked how coaching has made an impact on her life and business, CEO Coaching International client Kelly Siggins, the CEO of StoneAge, Inc, explained, “There’s no doubt that I wouldn’t be where I am today without coaching. My coaches helped me tremendously, both personally and professionally. Through my disciplined scorecard and the creation of weekly microacheivements, I have been able to keep a laser-like focus on what’s most important to me and my business.”
Proven business results also shed light on the difference that the right CEO coach can make. In a study conducted by Chairman Mentors International, 71% of the CEOs that were surveyed said that they were certain their company performance had improved as a result of coaching, with the strong majority reporting that they were making better decisions and were more capable of fulfilling stakeholder expectations.
At CEO coaching international, we know that our clients who have worked with a coach for three years or longer experience 5 times the national EBITDA growth year over year. If you are ready to level up your business and are interested in CEO coaching, here’s what to look for when choosing your coach.
Use This 8-Point Checklist to Find Your Coach
Here’s an 8-point checklist on what to look for in an effective CEO coach.
2. Only work with someone who has been there and done it.
It’s hard to understand the ups and downs of being a CEO or entrepreneur unless you’ve been one yourself. You want a coach who has been on the hook for hiring and firing people, for meeting payroll, for taking the business from idea to execution, and for generating profits. Some coaches rely on their business experience or coaching credentials but haven’t been CEOs in the past. Find one who has walked in your shoes, and better yet who worked in the same industry, while demonstrating a high-level of success.
2. Make sure your coach uses clear best practice methodologies that gets results.
Coaching is not about winging it, and the occasional calls with a mentor won’t bring the same results as a coach with a proven process and methodology that provides structure and direction. A coach should be able to guide you to adopt a disciplined process around strategy and execution, while layering in best practices in leadership and teamwork.
3. Coaches should have a system to hold you accountable for getting things done.
One of the most overlooked benefits of coaching is that your coach should be able to hold you accountable to achieve your goals. When you must answer to someone, you answer. When you join a gym it is easy to want to sleep in instead of workout on a cold morning, but if you are paying a personal trainer whether you show up or not, chances are you are going to make the effort to show up. Coaching is no different.
4. Choose a coach who challenges you to set specific, measurable goals.
It’s easy to say, “our goal is to grow 20%.” It’s much harder to determine the one or two specific and measurable activities that done consistently, will almost guarantee that you grow at least 20%. A good coach will challenge you on your goals and drive you to uncover the key activities that will make those goals a reality.
5. CEO coaches can see and help you overcome roadblocks to success.
We all know that things don’t always go as planned. The best CEO coaches have strategies to overcome many of the potential pitfalls that derail less experienced entrepreneurs and CEOs, and they often have the foresight to see those pitfalls coming well before anyone else. A good CEO coach can shine a light on your blind spots and turn those liabilities into assets by helping you stay ahead of your competitors.
6. Finding someone with the right personality fit for you is important.
Coaching can be very personal, and it’s important to be able to build a trusting relationship with your coach. You don’t have to be best friends, but you must respect your coach as a mentor and a person. When interviewing potential coaches, ask about their communication style, their hobbies, and their views on work-life balance. Make sure that their values align with yours as much as possible.
7. Your coach needs to have the courage to call you out when needed.
Coaching is about growing, developing, and getting results. When you are veering off course, or making excuses, your coach must have the confidence to tell it to you straight. Bringing an experienced CEO coach into your strategic planning session with your senior leadership team can result in gaining objective insight into what you can do to improve your communication and team. You just need to find a coach who isn’t afraid to say when you’re doing something wrong.
8. Look for a coach who is a member of an organization or network with valuable business connections.
As you work with your coach to identify roadblocks and changes that may need to take place in your organization it helps to have a coach who can connect you with trusted professionals and companies that provide the services you need. If a coach is well-connected, they have the resources to provide you extra help and insights by reaching out to their contacts or providing you a referral for a specific business need.
When you consider making a business investment, you run the numbers and look for ROI. It’s no different when hiring a coach. Do your homework. Ask the right questions. Use this checklist. When you find the right CEO coach, the fee they charge will be a small fraction of the return you receive in the form of revenue, profit, and personal growth.
Schedule a Free Call with a Coach Today
About CEO Coaching International
CEO Coaching International works with the world’s top entrepreneurs, CEOs, and companies to dramatically grow their business, develop their people, and elevate their overall performance. Known globally for its success in coaching growth-focused entrepreneurs to meaningful exits, CEO Coaching International has coached more than 600 CEOs and entrepreneurs in more than 40 countries. Every coach at CEO Coaching International is a former CEO or President that has made big happen. The firm’s coaches have led double-digit sales and profit growth in businesses ranging in size from startups to over $1 billion, and many are founders that have led their companies through successful eight and nine figure exits. CEOs and entrepreneurs working with CEO Coaching International for three years or more have experienced an average EBITDA CAGR of 59% during their time as a client, more than five times the national average. For more information, please visit: https://www.ceocoachinginternational.com