It is common that entrepreneurs or business owners come for business coaching for two reasons:
- They want an objective sounding board that can provide a valuable critique of their business
- They want to move their business forward, but often do not know how to do this
For the entrepreneur or business owner, business coaching is comparable to having a business partner.
The business coach is someone with insight into your business, knowledge about business in general, and who has no ego in terms of ‘being right’.
For the business owner, there could be no better partner than one who has the vested interests of your business at heart.
Business coaching, like business development, is a process. It has ebbs and flows and requires time to achieve results. It is also a relationship that grows and matures over time, and within that maturity develops an in-depth understanding of your business ambition, capabilities, industry, as well as of the people involved and their competencies. This includes the competencies and preferences of the business owner or entrepreneur.
The road that the business owner travels in a business coaching intervention is one in which he or she develops new competencies, and ingrains an improved system of thinking about their business and their ways of doing things.
The process demands commitment and actions, and the results embed the desire to take those actions. When the coaching sessions reach conclusion, the business and the business owner both emerge in a much better place than when they originally started.
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Why would a corporation need a business coaching intervention?
Corporations are big and powerful and successful. They have visions, objectives and missions which drive them to achieve. And that is exactly the reason why a business coaching intervention can only be beneficial.
At the heart of all business success is the human ingenuity that makes decisions. In large corporations ineffective decisions can be easily remedied or covered. However, really original ways of thinking and great decisions are the sparks that launch a company forward, leaving competitors unable to catch up.
There is a principle in large corporates that encourages new and fresh ways of thinking. This is the fundamental principle of business coaching.
The professional business coach is qualified and skilled at asking those questions to stop a board meeting in its tracks; to make executives question their essential assumptions; and to unearth new avenues of possibility which often elude the established business.
A business coaching intervention in a large company is not designed to fix small problems and improve staff productivity; rather it seeks to target the big strokes and challenge entrenched ways of thinking. This is not because the current way is wrong, rather it is because human nature tends to become comfortable and to prefer focusing and thinking in the way that had always served us.
Business coaching breaks the mundane to inject novelty. A business coaching intervention can be the launching pad to a corporation’s next success!
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Ironically enough, the person who sits at the top of a company generally tends to have the most uncomfortable seat.
Stress and enormous responsibility are all par for the course at a certain level of authority; however, stress reduction techniques are a reality and certainly work to decrease internal pressure.
Some of the more common techniques include:
- Having a support group who really understand
- Getting a change in scenery
- Participating in a hobby
- Switching off when you’re not at work
- Developing an ‘in the moment’ mentality
Each one of these has significant value and can be life changing. Debra Nelson (president of her own executive coaching company) cites three reasons why the stress of a CEO is so high:
- The pace of their work life
- The reality of downsizing
- Social isolation
Probably the most important aspect of stress reduction is finding what works for you.
Forbes presents some of the ways in which CEO’s manage their stress levels:
- Robert Freedman (CEO of ORC Worldwide) meditates for 2 minutes every morning while drinking his coffee. This creative ritual is a deliberate form of destressing and it works for him
- Ryan Wuerch (CEO of Motricity) runs marathons, and then enjoys chips with salsa
- Luis Derechin (CEO of JackBe) exercises, particularly by enjoying long runs
- Jeff O’Shea (CEO of IntelliTouch Communications) rides his bike every morning and enjoys listening to music. He also claims that laughter is a great stress reducer
- Chris Twyman (CEO of Zapoint) maintains that it’s quality family time that is the best solution for him
- Robin Loudeermilk (CEO of Aaron’s Inc.) swears by the outdoors – whether its fishing, hunting or watching his sons play soccer
- John Benson (CEO of eFinancialCareers.com) states that time management is the key. With his structured schedule he is able to exercise, switch off from the office, go sailing or try something creative and new
- P Miller (CEO of Louis Allen Worldwide) relies on being able to talk to his business partner and maintaining open communication with a positive base
- Gary Bhoiwani (CEO of Allianz Life) focuses on solutions and this minimises his stress levels
Which one of these could you incorporate into your daily routine to help you cope with your daily demands?
Speak to us today to find out ways to decrease your stress. Your first session with a business coach is FREE.
When 200 CEO’s, board directors, and senior executives were asked how receptive they would be to coaching, the results were as follows:
The 2013 stats on these executives receiving coaching was that only 34% of them were having regular coaching sessions. Interesting, isn’t it?
There is an overwhelming receptivity to be coached, and yet when put into practice, there is a drastic reduction in activity. Why is this? Standford highlights an array of reasons, with the most dominant being that CEO’s prefer to be private about getting coaching.
More importantly, the main reason why CEO’s are so receptive to coaching is because good things are easy to see, while blind spots are unknown and tend to creep up on them.
On a global level, top executives receiving business coaching is growing at a rapid rate. The benefits of coaching are becoming better known and certainly more widely recognised.
Source: CEO World Magazine 8 August 2016
So we’ve established 3 facts:
Top executives are receptive to being coached
Only 34% of top executives actually are being coached
Coaching at an executive level on a global scale is rising at a rapid rate
So here’s the final piece of the puzzle: What are leaders being coaching in?
If you are a leader, how would you fare in these 12 areas?
How could you benefit from coaching?
And most importantly, what would be the return on your business if you improve in these 12 areas?
Book your coaching session today! The first session is FREE.