All the Truth about Business Coaching
Coaching, in general, is a growing industry, to the point that the projections predict a shortage of coaches in the future. In the particular case of Business Coaching, the demand for their services is growing even faster.
You may say: “there are a lot of very successful companies out there, why would they want a business coach?” The reality is that, in the same way that talented actors like DeNiro or Pacino have coaches, successful CEOs have coaches too. This is because, no matter how good you are and how well you do, you can always be and do better. How can that be accomplished? The Japanese use the "kaizen" which refers to continuous improvement. When you make an improvement in your company, you are creating the conditions for more improvements. It is about clarity, focus, prioritization and execution. Coaches are great at that.
In Business Coaching, there is a collaborative aspect that characterizes the “business coaching experience”, where coach and coachee combine the best of their experience, knowledge and skills to attain the client’s desired goals in a shorter period of time and, in general, with lower effort. Remember the expression “One plus One is Three”?
Why is Business Coaching so effective?
The coach is able to leverage the client’s business knowledge, resources and capabilities more effectively than the client would do on his or her own.
Far from the popular belief that the coach promotes accountability, I would like to propose that the coach’s main role is to help the customer focus on the right priorities, and then, to focus on the best ways to achieve the desired objectives. At difference of consulting, where, in general, when the consultant concludes the job, the knowledge goes away with the consultant; during the coaching process, the client learns and develops skills, capabilities and attitudes that stay with client for ever.
It is not just about consulting or training, it is actually much more than that. During the coaching process, the business coach acts as confident, mentor, motivator and advisor.
Here are some examples of business cases where Coaching provides excellent results
- Costs reduction, Quality improvement
- Profit, Margins, Sales, Revenue improvement
- Performance improvement
- Loyalty, Retention
- Team building
- Filling the Blanks in the Org. Chart
Strategy and associated Processes:
- Strategic Planning, Vision setting, Definition of Success
- From Data Centric to Process Centric
- International Expansion
- Growth, Tactical Execution
- Start ups, Setting “the right” Strategy, Planning Execution
- Innovation, Competitive Advantage
- Develop a Positive/Confident Attitude toward Success, Money, Riches,
How to select the Right Business Coach for you:
Here are a few suggestions to help you find and qualify the best coach for you:
1)Select a coach who has been certified by a reputable coaching organization like CoachU (Coach University), IFC or equivalent.
2)Business Experience is a MUST. Request to see the credentials.
3)Be careful with those coaches who say, “Here is the Power Point presentation that explains how to solve your problem”. Since each client is unique, and each case is unique, there are no “canned solutions” that apply specifically to your particular business project.
Note that many coaches may use assessment tools to help them pinpoint certain aspects of the client’s personality, this is a common practice and perfectly acceptable.
4)Obtain Coaching in your native language if possible
5)Avoid long term contracts. Some coaches may want to lock you in with minimum duration contracts (typically 12 months). A good coach will retain his/her clients without the need of long term deals. Expect though, a requirement of at least a 3-month commitment in order to ensure that the client will attain some “coaching” momentum.
Coaching can be done over the phone; in fact, more than 79% of coaching is done over the phone, or chat. Sessions last between 30 to 45 minutes, three to four times a month. Fees vary, expect between $150 and $500 per session depending on the coach’s capabilities and experience, some coaches my charge per results or “value”.
Author: Hector Barresi