Success as a Restaurant or Hotel Owner or Operator has never been more challenging, due to increasing competition and higher demands to meet business objectives.
Personal pressures are equally daunting. Long, stress-filled hours at work can strain commitments to family and health.
If you feel a little overwhelmed, you’re not alone. Merely projecting a veneer of confidence isn’t an option. So what can you do?
The best kept secret to success revealed by successful business professionals
Despite demanding circumstances some Hospitality professionals achieve results that others don’t, no matter how hard they try. What is their secret?
Two words: Business Coaching.
Top Restaurant & Hospitality professionals understand and appreciate the value of hiring an experienced and objective guide to reach the next milestone of success – someone to help them make the connection to what matters most to them in the heat of the moment – someone with the skills and experience needed to enhance their own performance.
But despite business Coaching’s proven track record of success, some people resist using a coach themselves. Their resistance or skepticism is often rooted in misconceptions about what business coaching is all about. The most common myths I hear about coaching include:
- Coaching is for people who cant do it alone
- Coaching will make me appear inadequate to my peers or team
- Coaching is a punitive measure for under-performers
- Coaching is too much like counseling
- Coaching is time-consuming
- Coaching is expensive
While these are all valid concerns, this report will reveal that business coaching remains one of the biggest secrets of successful business people. The Return on Investment (ROI) from hiring a coach warrants serious consideration.
Coaching yields average ROI between 500-1,000%!!!
A recent study on the impact of executive coaching by Manchester Inc. concluded the average ROI on coaching was 5.7 times the investment made. That factor alone could result in over $100,000 according to those who estimated the monetary value.
Key business benefits attributed to coaching in this study included:
- Improved productivity (reported by 53%)
- Enhanced quality (48%)
- Superior business strength (48%)
- Superior customer service (39%)
- Reduced guest complaints (34%)
- Increased manager retention (and therefore staff!) – those who received coaching (32%)
- Reduced costs (23%)
Executives also reported intangible improvements in:
- Working relationships with staff (77%)
- Working relationships with colleagues (71%)
- Teamwork (67%)
- Working relationships with peers (63%)
- Job satisfaction (61%)
- Conflict reduction (52%)
- Organizational commitment (44%)
- Guest relationships (37%)
The improvement to business profits as a result of coaching was reported at a whopping 22%. What would a 22% improvement in net profit (not gross sales!) mean to you and your organization this year? That’s the bottom line for many in the event and meeting planning business.
How coaching enhances clarity, capabilities and confidence
A business coach brings three important things to the relationship:
1. Tools. The broad business experience of a coach enables them to bring realistic methods for creating solutions, strategies, and goals. These tools provide just in time learning in a business landscape that changes quickly.
2. Structure. Coaching is a very action-oriented process. Together, both coach and operator uncover the action steps that will move the operator and their business forward towards their goals. But it is the operator who will perform almost all of the steps themselves.
3. Support. Coaching provides you with knowledgeable support and encouragement and a new way of looking at things when you need it.
Imagine a place where unbelievable achievement is the norm. This is where the hearts and minds of most professionals are. Whether you have a specific issue you need to resolve or a goal that seems unattainable, coaching creates a clear connection between where you are today and where you want to be.
Why not invest in the business tool that’s been proven to deliver a dramatic ROI for you, your company, and your personal satisfaction. What’s holding you back? Isn’t it time you found out? Add to that most of our programs are tax deductible + our 100% Effective Guarantee = the most valuable and powerful way to get the results you need and deserve – faster! Why now experience the success you deserve…book your individual or group Coaching program now.
Read my article: The 5 Growth Engines of Your Restaurant Business