As a CEO, you’re in demand. So why should you consider taking several hours a month out of your schedule and talk to a CEO coach? In a word—results.
The right CEO coach can make the difference between 5% growth and 39% growth. Between average profit margins and industry-leading profit margins. Between working all the time to taking time off and enjoying life.
But how do you find that CEO coach who can make a massive difference in your life and in the results of your company?
CEO Coach 8-Point Checklist
Here’s an 8-point checklist on what to look for in an effective CEO coach.
- Someone who has been there and done it. It’s hard to understand the ups and downs of being a CEO or entrepreneur unless you’ve been one yourself. That’s why it’s important to find a CEO coach who has walked in your shoes. You want a coach who’s been on the hook for hiring and firing people, for meeting payroll, for taking the business from idea to execution to generating profits.
- A clear best practices methodology that gets results. Coaching is not about winging it. Your coach should have a process and methodology that provides structure and direction while allowing your firm to personalize it based on your unique situation. Best practices work for a reason and your coach should be steeped in them.
- A system to hold you accountable for getting things done. Talk is cheap. You’re not hiring a coach to have friendly chats. You’re hiring a coach to get results. Make sure the coach you work with has a system that tracks action items and holds you accountable for completing them.
- A process to help you determine what you want and the skill to identify the specific and measurable activities needed get it. It’s easy to say, “our goal is to grow 20%.” It’s much harder to determine the one or two specific and measurable activities that done consistently, will almost guarantee that you grow at least 20%. A good coach will challenge you on your goals and drive you to uncover the key activities that will make those goals a reality.
- The ability to help you see and overcome roadblocks to success. We both know things don’t always go as planned. Yet, the best CEO coaches have strategies to overcome many of the potential pitfalls that derail lesser entrepreneurs and CEOs. Take blind spots. We all have them but you may be ignoring yours. A good CEO coach can shine a light on your blind spots and turn those liabilities into assets.
- A two-way personality fit. Coaching can get real personal. I know stuff about my clients that their spouses don’t even know. Take the time on the front end to make sure you and your CEO coach develop a trusting relationship. You don’t have to be best friends, but you better respect each other.
- The skill to shape you into a better leader. Leaders can be made and a top CEO coach can help you develop your leadership skills. If you want to build a great organization, you must be a leader people want to follow.
- Someone who has the courage to shoot you straight and call you out when you are acting or spewing nonsense. Like I said earlier, your CEO coach is not designed to be your chat buddy. Coaching is about growing, developing, and getting results. When you’re veering off course, your coach must have the confidence to bust your chops when needed.
Clearly, finding the right CEO coach is not something to take lightly. And the right coach does not come cheap. Yet, here’s the deal…the investment you make in working with the right CEO coach is irrelevant.
When you consider making a business investment, you run the numbers and look for a certain ROI. It’s no different when hiring a coach. Do your homework. Ask the right questions. Use this checklist. When you find the right CEO coach, the fee they charge will be a small fraction of the return you receive in the form of revenue, profit, and personal growth.
Mark Moses is the Founding Partner of CEO Coaching International and the Amazon Bestselling author of Make Big Happen. His firm coaches over 145 of the world’s top high-growth entrepreneurs and CEO’s on how to dramatically grow their revenues and profits, implement the most effective strategies, becoming better leaders, grow their people, build accountability systems, and elevate their own performance. Mark has won Ernst & Young’s Entrepreneur of the Year award and the Blue Chip Enterprise award for overcoming adversity. His last company ranked #1 Fastest-Growing Company in Los Angeles as well as #10 on the Inc. 500 of fastest growing private companies in the U.S. He has completed 12 full distance Ironman Triathlons including the Hawaii Ironman World Championship 5 times.