Business coaching is ideal for people who need help in creating a vision and direction for their company, people who have started their own business but lack business acumen or management skills or managers who want to become more effective leaders.
What is business coaching?
A business coach is independent of your business and will act as a mentor or advisor to your business.
They will help you define the vision and purpose for the business, create a strategic business plan, help you set measurable goals, implement those goals and track your progress.
They can also act as a sounding board, brainstorm creative solutions to difficult problems, discuss day-to-day problems or help you make your business dreams become a reality.
What are the benefits of business coaching?
There are several benefits to business coaching. Some of these include:
- Strategic vision
Business coaching will empower you with the skills to develop a ‘bigger mentality’ that will you more time to look at the overall strategic plan of the business by trusting your staff and delegating responsibility.
- Motivated and happy staff
Business coaching improves the management skills of key players in the company which in return leads to happier staff who want to come to work and have a renewed interest in the company. This leads to an improved retention rate, reduced absenteeism, a higher level of motivation and increased productivity.
- Work-life balance
With increased productivity, better organisational skills and management of staff, this will inevitably lead to a work-life balance as workloads and deadlines are better managed. Business coaching will teach you to work smarter and not harder and find ways to reduce your workload but increase your productivity.
- Increased profits
Business coaching’s end result is to increase profits and the bottom line of a company. This is done by teaching the business owner or manager sound business principles such as the significance of strategic planning, the importance of promotion and marketing to a business and the value of having happier staff and an improved retention rate.
Are you ready for change?
For business coaching to be effective and to be worth the financial investment, your management team needs to attend the business coaching sessions with an open mind and be ready to change their business practices. Business agents act as a change agent and needs a 100% commitment to improving the process of the businesses and business management style of the organisation.
How do I find a good business coach?
Always ask a business coach for referrals or case studies. Ask to speak to these past clients if possible and ask them about their experience with a business coach. Try and find a business coach who is familiar with your industry. You may also want to speak to your local industry association and see if they can give you any recommendations for business coaches who have achieved success with similar businesses.
Business coaching focuses on changing the interpersonal skills of managers and business owners to ultimately increase productivity, time management, improve the retention rate of a company and ultimately improve the bottom line, turnover and profits of a company.0