What is Business Coaching?
Business coaching is facilitative one-to-one coaching with business managers and owners. The coaching is focused on the success of the business and is likely to include a mixture of short- and long-term objectives. Because the focus is on the organisation and not the individual executive and it addresses business or organisational challenges.
It is lonely at the top. Especially for an owner-manager. Running a business can be lonely. Issues such as your own growth and development, working relationships with your management team or specific business challenges can be highly confidential. But these matters are also important enough to merit the rare opportunity to discuss them, think out loud and receive constructive feedback. As an objective outsider a coach is free to question the manager on major issues, obtain valid data and address specific issues.
What does business coaching cover?
You might employ business coaches at any stage of your business growth curve, including:
- Start-up and business planning
- Learning to delegate
- Building a team structure
- Resolving changing relationships
- Introducing management and financial processes
- Developing a marketing plan
- Major expansions or new projects
- Business turnaround or recovery activities
- Sale or purchase of a company or its assets
- Resolving internal conflicts or personnel issues
Often, we start with defining what it is we wish to achieve, why we wish to reach a certain goal, what might prevent us from reaching that goal, what that output looks like, by when we wish to achieve our goals and only then, how we might go about achieving them. Avoiding jumping to the solution without understanding the task is key to achieving those goals in affectively and timely manner.
During my career I’ve come to understand that there is no one-size-fits-all solution, it’s not prescriptive but there are common threads to most challenges. To address these challenges, we can apply root cause analysis, goal setting, risk and issue management, we can leverage industry standard tools and we can solve a lot just by talking openly and being objectively challenged about our understandings.