26 Business Coaching Statistics Reveal Why ‘Business As Mission’ Discipleship Works
Business coaching lies at the heart of iBAM’s approach to missions, church planting, and disciple-making movements. Why do we use this strategy? Well, one big reason is because it works. Take a close look at the business coaching statistics below, and you’ll see why spreading God’s word and making disciples through business may be the most effective path into unchurched people group communities around the world.
What Does Business Coaching Have to Do with Missions?
As a Christian missions organization, iBAM goes into nations where believers often have a hard time finding economic stability. This forces many to relocate frequently, which makes it harder to plant churches and branch out to new communities.
Our work is to raise up new business owners within these church communities. They then become pillars in their communities and churches. They make disciples through their businesses, and they also help fund other local outreach efforts.
The biggest hurdle is teaching Christians who may have entrepreneurial instincts how to actually start, run, grow, and succeed in business.
We employ a ‘train the trainer’ model. This means, once a business owner has been coached on how to start up businesses, they can become the trainer for the next group of Christian business owners in their community and surrounding areas.
26 Business Coaching Statistics
So, let’s see why having a business coach makes such a profound difference for people who own businesses of all sizes, from small shops to Fortune 500 companies.
92% of small business owners…
…agree that mentors and coaches directly affect their ability to survive, succeed, and grow.
One third of successful entrepreneurs…
…use a mentor or support/mastermind group. Interestingly, only 14% of entrepreneurs who failed at business did this, suggesting that those who try to go it alone end up failing more often.
86% of business organizations…
…in one study earned a positive ROI on whatever they invested in business coaching.
61% of business coaching clients…
…improved their business management skills as a result of coaching.
96% of executives who worked with an executive coach…
…said they would absolutely repeat the process again if given a chance. Why? The study unearthed a whole host of benefits produced through the business and executive coaching, such as:
- Increased productivity
- Higher overall employee performance and engagement
- Sales and revenue growth
- Higher employee retention
- Reduced costs due to fewer hiring issues and better productivity
- Increased confidence
- Improved communication
- Better relationships among employees and key stakeholders
25-40% of all Fortune 500 companies…
…invest in executive coaching. What this means is, the most successful companies in the world believe business coaching to be an essential component of what brought them, and continues to bring them, that success. Business coaching equals far greater chances of business success.
39% of CEOs…
…have an executive business coach, which is right in line with the previous business coaching statistic.
The 5 most common benefits of business coaching…
…as reported in one of the most oft-cited studies on business coaching were found to happen at the following percentage frequencies:
- 80% showed increased self-confidence
- 73% developed improved business relationships
- 72% improved their communication skills
- 71% improved their interpersonal skills
- 70% rose their level of work performance
Imagine these effects taking root in a new church plant that is infused with business owners who have benefitted from business coaching. The fruits would reach far beyond just the business itself!
The top three areas business coaches and mentors…
…are asked to help business owners with:
- 61% ask for help dealing with human resource issues
- 59% ask for help with business growth and expansion
- 53% ask for assistance with starting a new business
Missionaries don’t generally know anything about these sorts of things. But in a situation where new believers are coming to faith and some are starting businesses as a means to disciple others, they need business coaching help that normal missionaries cannot offer. This is the gap iBAM fills.
Maybe that’s why…
89% of business owners…
…who don’t have a mentor or business coach with they did. Business owners know they need help. They just often don’t have any way to find it.
33% of business founders…
…who receive mentoring and business coaching from successful entrepreneurs go on to become top performers in their industries or niches.
What About Business Coaching Statistics Showing ROI?
This issue has been studied many times, and you can find a great variety of data on the subject. Here are a few of the most prominent studies:
221% ROI found in this study focusing on a hotel company.
Nearly 600% average ROI found in this survey of 100 executives.
700% median ROI in this much broader study – that’s a 7x return on investment from business coaching. The top 19% of companies in this study saw a 5000% ROI – profiting at a level 50 times higher than what they invested in business coaching.
788% ROI found in this study on executive coaching. If you exclude the money saved because of stronger employee retention (though, why would you?), the study still found a 529% ROI.
Another way to look at ROI business coaching data is by comparing it to the competition.
63% of businesses and organizations…
…who provided coaching for their employees reported higher revenue and income growth than their competitors.
Why Don’t More Businesses Pursue Coaching?
Another study investigated this to try to understand why companies don’t offer coaching for their leaders, executives, or other employees, and why some business owners don’t pursue it themselves. Here is the data that study produced:
- 59% of businesses didn’t offer coaching because of the cost. Whether their budget constraints were really that dire, or if they just didn’t want to make the investment, perhaps the study goes into more detail on that. But nearly 60% of the time, cost was the deciding factor.
- 41% didn’t pursue coaching because they felt it would be too hard to measure the ROI.
- 41% also didn’t feel their organization’s culture would support coaching
- 35% said getting their leadership to buy in to business coaching was the major roadblock
What do all these business coaching statistics say about Christian missions?
Training Business Coaches for Christian Businesses Is Powerfully Effective!
Through iBAM, none of these problems from the last study stand in the way.
We provide the coaching for free, so cost is a non-issue. With no cost, ROI is a non-issue too because any benefits whatsoever will be positive.
The disciple-making movements in the nations we work on are desperate for business coaching. They see the huge benefits of having successful Christian businesses as part of their communities. So their businesses and leadership are all in for this. They just need to get started.
Every trainer we send, and every group of business owners and coaches they work with and train to repeat the process, multiplies the effect with every new group of Christian entrepreneurs.
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