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Want to increase the value of your business? When times get tough, as they certainly were in mid 2011, no business can afford to lose even a single customer. Smart business owners know this, and some are willing to take extraordinary action to care for and retain a customer. And I do mean extraordinary action. Like the following.

Recently I heard a story about the extraordinary action that Sir Richard Branson took. First a caveat. I heard this story second hand, and have been unsuccessful in contacting someone in the company capable of confirming or denying it. But the person I heard it from is either the brother or brother-in-law of the subject of this story.

It all happened around Christmas time of 2010. The subject of the story lives in the UK, and frequently flies to New York. His airline of choice has been Virgin. If you think back to the events leading up to Christmas of 2010, you will probably remember that gigantic snowstorms swept over the UK and the European Continent. Planes were grounded everywhere because airports were effectively closed to traffic, due to impassable runways.

The subject was in New York awaiting his return to the UK. Not only was he in New York, but was also at the airport at Virgin’s check in area. Because there was nowhere to land, planes could not even leave New York. Passengers were stranded at the airport, and like the old saying, “nobody knew nuthin”.

Frustrated passengers were looking for some information on when their flights would leave. But nothing was available. Virgin’s passengers knew no more than any others awaiting departure. The whole place became a zoo.

How does one measure an organisation’s value? Quantitatively, this value is measured in terms of the revenue and profits generated while qualitatively, it is reflected in the quality of its products, services and overall customer experience the organisation provides. In order to increase the value of a firm, one needs to bring significant improvement in one or more of the above mentioned areas.

Corporate coaching makes an impact not only on the profitability of the firm but also on the critical qualitative factors. It enhances the quality and value of the most important asset of an organisation which is its employees thereby, increasing the overall organisational value. A motivated and empowered workforce contributes to the organisational performance and strength.

To make an impact on the profitability, coaching targets the productivity of employees and cost reduction through effective employee retention. A 2001 study by Manchester supported this fact with 22% of participants reporting an improvement in bottom line profitability and 14% in top line revenue, other areas of improvement being productivity (53%), cost reduction (23%) and reduced turnover (12%).

In the same study, the impact on qualitative factors like customer service (39%), quality (48%) and organisational strength (48%) were also highlighted. Other intangible impact areas included relationships with direct reports, peers, clients and stakeholders, reduced conflicts (52%), improved teamwork (67%) and high job satisfaction (61%).