Is a business coach worth it?

Absolutely,” said John Haney, general manager and executive vice-president of operations at The New England Association of Business Centers.

“The idea that a business could be worth $2 million or $3 million when they have a very small number of people is ludicrous,” he says.

He acknowledges the costs of hiring a business coach: $1,800 a week to hire one, $400 to attend one’s coaching session and another $2,000 to keep a coach on staff. But, says Haney, “The benefits are huge.” They include a business owner who gains a better understanding of his/her business and a coach who can do the job faster and more effectively.

“There are some coaches who don’t even come in, they just walk in and see a coach,” says Haney. “The other coaches will say ‘Well that coach is just crazy, because they don’t actually take their courses’. But it’s important to recognize that if you have a good understanding of your strengths and weaknesses in these areas and you can get to know the players better that you better know how to communicate effectively with them, you want these coaches because they will give you the information and the insight because there’s no doubt that having a coach who is very knowledgeable and has an understanding of your business is a very good thing for the business.”

To be sure, most coaches aren’t able to hire their own staff members. It isn’t always easy for a coach to find a coach who can fit the role and get the same results. But Haney believes more coaches should be able to hire for these roles and give their coaches these experiences so they can provide the answers they need to their clients in a timely matter. And the best way to accomplish that is to hire some coaches yourself.

“The cost of hiring a coach will come down when we all get to know each other and have a lot more conversations on the phone and in person about our business,” Haney says. “Our relationship with the coach will increase and the relationship with the players will improve. If you have an owner who is going to hire this coach, there’s no reason you shouldn’t do it and it’s not going to cost you a penny more to hire this coach than to hire the coach who can take care of the business, which will be you.”

With that, we wish Mark Felski many success in his future endeavors. There’s no doubt he’s a business person with an ability to make great connections