Why Coaching Is an Investment & Not a Cost
Author: Nicky J. Davies |
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Categories: Business Fast Track
“That seems reasonable to me” he said, and made the payment there and then. No haggling, no further questions, no objections. He got it completely – he saw my coaching programme as an investment in him, and not a cost. So, what’s the difference?
Well, a cost is simply an expenditure of money, time, or resources.
An investment is an expenditure that has a strong possibility of a return.
Both have value – if you buy a car the value is in transportation, maybe prestige depending on the brand, and safety. But you don’t expect to get a return on it. A car is a cost.
But coaching, when done well, is an investment. The reason why people pay for coaching or mentoring is because they have an expectation that it is going to help them move forward with their career, business or life in general. And that outcome has a return which just keeps on giving. The return on the investment far outweighs what the initial payment was.
I’ve paid more than $500,000 for personal development programmes over the years, and that includes coaching and mentoring programmes too. And I continue to invest. Why? Because I learnt an invaluable lesson in my mid 30s which changed my view of coaching completely.
The company I worked for at the time introduced a coaching programme for senior managers and I was part of the programme. A number of us were skeptical about this thing called coaching. This was in the early 2000’s and coaching was just beginning to pick up momentum in the world of Learning & Development.
I didn’t fully understand what this coaching ‘thing’ was all about. I was expecting coaching to be something that was done to me, I would be relatively passive in the whole process. But it was far from that. What my first coach, Helen, did was help me understand how my unique thinking process worked and how some of it was stopping me from being as effective as I wanted to be in certain work situations.
Now bear in mind my background is in psychology and therapy. None of my training had taken me into such a deep understanding of me. It had taken me into a deep understanding of human beings in general, but what Helen did with her great coaching ability was insightfully point out a few things that I didn’t even realise I was doing.
Armed with a new perspective and new strategies to try out, I was able to have influence in situations I’d previously felt I’d been shut out from. That was such a boost in my confidence alone.
My understanding of the importance of looking at things from different perspectives and questioning my assumptions has stayed with me to this day. I am still reaping the benefits and return on the investment from my first coaching experience. And am grateful to the company who paid for the coaching, and to Helen who was a fabulous coach. That experience also inspired me to train as a coach, and that story is for another blog.
I have a great Business Mentor right now, Bernadette. When I share business situations with her and ask a question, what comes back is a golden nugget as far as I’m concerned. Bernadette can see way ahead of what I can. Its almost like she can see round corners. Am I getting a return on my investment? – you betcha!!
So, when you are considering coaching or mentoring to move you forward in your career, business or life, remember it is an investment and not a cost. You will reap the rewards for the rest of your life. How much is that worth to you?
What is the cost associated with staying where you are?
And if it would be helpful to have a conversation to get clarity on your vision, understand where you are now, and uncover obstacles that could be sabotaging your progress, click on the link and book a FREE call with me. You have nothing to lose and much to gain. Maybe you’ll even find a golden nugget you can take away! https://meetme.so/NickyDavies
Nicky works with managers who are unhappy with their current career situation and are looking for more and don’t necessarily know what ‘more’ is at this stage. Click on the link and book a FREE call with me - https://meetme.so/NickyDavies