During a recent review with my students of “Secrets of Selling to the Affluent Traveler”, we were discussing the impact that a good business coach or adviser can have on their success.
According to a study on LinkedIn, the return (ROI) for this service averages 7x the investment. In other words, for every $1000 you invest in quality coaching, you can expect an incremental increase of at least $7000! This seems to validate a quote attributed to old Ben Franklin, “An investment in knowledge pays the best interest.”
One student asked, “With so many coaches, both independent or employed by host and consortia, all claiming to be the expert – from sales, marketing, groups, social media, newsletters, storytelling (it’s the latest trend), and more. How do you choose?” My answer, “It depends”.
There is a misconception that if your business is not growing (i.e. making sales) that “marketing” will fix it. As a result, many advisers will tend to gravitate toward the marketing related coaching programs.
In my opinion, this is a mistake for one simple reason. It’s putting the cart before the horse. No amount of money spent on marketing is going to help if you have not mastered the core fundamentals of the business and in my experience, this is typically the case. Identify and correct the core issues first, then invest in attracting prospects. You won’t regret it.
When choosing a coach or business adviser, here are three things to consider:
- Do your research. We are a “Get Rich Quick” society and there are always some bad apples who will take advantage of this. Their “sales funnel” or “marketing system” will claim a quick fix for all your problems. This can be tempting, so buyer beware!
- Know what you want and what you don’t want in an adviser. Look for one that helps you think strategically, create action plans and holds you accountable for implementation. Not one that simply tells you what you want to hear.
- Are they a good fit for YOU? Will you be one of many or do you prefer boutique consultancy that caters to your specific needs? Regardless, the best requires a prescreening interview to determine if you are a good fit for their services.
Hiring a good, professional business adviser is one of the most important strategic investments you will ever make. They will help set the course for your business for years to come. In the end it about who will serve our needs the best.
Does that answer the question? Let me know your thoughts.
Dan Chappelle is a sales performance coach and professional business transformation advisor. His training and consulting firm help develop sales focused business leaders and entrepreneurs in the travel and tourism industry. His bestselling book, Get Your S.H.I.P. Together: The Wealthy Travel Agent Guide to Sales is available on Amazon.com. Begin your journey today to becoming a Wealthy Travel Agent. To learn more, visit www.DanChappelle.com