Evaluating and measuring the effectiveness of business coaching on firm growth

Abstract

This study aims to evaluate the ways in which business coaching enhances entrepreneurs' confidence and ultimately firm growth. Participants are 200 entrepreneurs, forming two cohorts of small-to-medium enterprises from different industries on fast-growth trajectories. Confirmatory factor analytic techniques establish clear links between business coaching elements (coaches' style, session focus, result, satisfaction), entrepreneurial level of confidence (locus-of-control, self-efficacy), and firm growth. Structural equation modeling suggests that business coaching is a non-direct influencer of entrepreneurial self-efficacy on firm growth. With the establishment of a Business Coaching Model, important implications are demonstrated for firms querying business coaching return-on-investment. This investigation provides solid evidence-based outcomes, adding substantially to empirical literature on business coaching.

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