It is predicted that for a small business owner to be able to work competitively on their own will become more challenging. During this recession especially, when the competition among companies is exhaustingly fierce, it becomes crucial to look for assistance to give you that competitive edge.



Business coaches give you an outside perspective on how your business is running. Because this is something most businesses do not bother to find out, this in itself gives you a lead over your competition.

A practice development research revealed that 42% of businesses don't use a business coach. This same study though, found that using a business coach can increase your profit margin by an average of 46%.

Thus 42% of businesses are missing out on a 46% profit increase. If you among that group you may want to carefully consider if you can afford to not use a business coach.

An article posted on affiliatedragon.com stated that having your own internet business was the last weapon against a recession. However, as we've seen more businesses both off and online negatively affected by this slow economy, having your own business isn't a fool proof plan. However, hiring a business coach can be the difference between those that struggle and those that survive.

Many business coaches show their clients how to navigate their way through changing economies to help them develop plans to build profit-growing businesses even during a slow economy. This gives them another advantage competitively.

A study conducted by the International Coach Federation surveyed 210 coaching clients for demographic data and feedback /opinions about the value and use of coaching. The study revealed that those who were coached had a positive change in personal work habits. This is instrumental to changing your business during a recession.

Here are some of the statistics this study shows us about business coaching.

62.4% smarter goal-setting

60.5% more balanced life

57.1% lower stress levels

52.4% more self-confidence

43.3% improvement in quality of life

25.7% more income

Those are just a few of the outcomes found through the study.

What we see is the number of people who are experiencing positive personal development skills to apply to their business. It's not just about dollars and cents and most times companies who are struggling have a personal reason linked to their financial struggle.

Some more interesting business coaching statics were those that we don't immediately link with business for example, 33.8% saw their health or fitness improve, 33.3% had improved family relationships and 25.7% stopped a bad habit.

Although we don't immediately associated something like stopping a bad habit to having an effect on our business, the fact is something like being lethargic can affect your work habits. To find out what may be keeping them from advancing their business clients can turn to business coaching.

Sometimes it's a simple as learning how to organize their office in a more effective and efficient manner.

The business coaching statistics found in this study prove that even during a recession businesses that use coaches can still thrive when they take advantage of the skills offered by a business coach.