I have been very fortunate to have known some wonderful mentors and people with whom I could discuss, debate, learn and gain insights into how I was perceived by others. These people helped me formulate, refine and understand my values and goals in life and business and nudged me to act on them. The best ones were never afraid to look straight at me and say, "Pepper, you're dead wrong on this one." The one thing they all had in common was that I truly respected who they were as human beings, how they conducted themselves and how they thought.

Which brings me to the key question for those considering engaging a coach: How well do you know this person and how they think? Were you referred by someone you know and respect who has used their services?

The firm they work for or their coaching method may indeed be impressive but I'm talking about how well you know how they think and what their personal values are.

Engaging a coach is placing one of your most valuable assets into the hands of someone else, hoping they will increase its value. You should know who that person is. What have been the high and low points in their careers? How did they handle them and what did they learn? What about their life experience applies to your needs? Look, we all have plateaus, hills and valleys throughout our careers and lives. It's what we do with those experiences that become the true predictors of our future. Failure, in many cases, is the sine qua non of success, but only if its lessons are learned and applied. Conversely, success has been the ruin of many careers when not understood, respected and even distrusted at times.

Now let's look at the other side of the coaching process: you.

I have been a coach and mentor to a number of people for 30 years and I can tell you this: Being coached is not a spectator event. Before engaging a coach, ask yourself if you are willing to be completely open and honest with someone about who you are, about your true goals. Are you willing to examine your deficits and leave your ego at the door when discussing an objective view through the eyes of others? Are you committed to trying new behaviors when appropriate? Will you dedicate the time to read, reflect on and question this experience? Being coached is like learning a new language or an instrument. You won't get the most out of these without considerable effort. Are you ready for that?