End the Myopic Vision
As leaders, we often get into the weeds of our business and it’s hard to see the forest from the trees. Having a coach helps you keep an eye on the big picture and maintain focus on your vision and goals. A coach will also give you the tools to work “on” the business and not just “in” the business.
An Outsider & Confidant to Discuss Issues With
Oftentimes, being at the top can be very lonely. Leaders often need to be able to discuss and debate issues with someone. They need a great sounding board. If you were to ask your team or colleagues what you need to do better when it comes to running your company, chances are you won’t get a totally honest answer. Even if you did get an honest answer, it may not be helpful if that employee doesn’t understand the strengths and weaknesses of your organization, your industry, your leadership style, or the way you choose to run your business. Having a coach allows you to get constructive feedback from someone that does not have a vested interest yet deeply cares about you and your business. Working with an experienced business coach is the secret weapon to help entrepreneurs, executives, and business owners reach new heights!
Business Experience to Lean On
Having an experienced business coach is like looking at x marks the spot on a map. You want to find someone who has already been to the destination through their own experience and coaching and can help you get there. A great coach has broad business experience across a wide variety of business types and topics. It is like having an Encyclopedia of knowledge to lean on. A seasoned business coach can also introduce new methods and keys to success that have worked for other business owners and may be parallel to your own situation.
Brainstorming
The old saying is that “two heads are better than one.” In order to break out of your comfort zone and reach your full potential, it is vital to have a coach that cares and can help you spot learning opportunities, set the groundwork, and see things through, all while cheering you on along the way. Once you’ve stepped outside your comfort zone and gotten past your mental roadblocks, your creativity comes alive. Working with a coach helps you identify opportunities you hadn’t seen before or develop new strategies for pursuing those opportunities.
Someone to Show You What You Do Not Want to See
One of the biggest challenges leaders face in their personal and professional development is recognizing blind spots. Blind spots are unknown weaknesses or threats that can hold a leader back from achieving their full potential. A great coach provides tools that help you stay grounded and give you perspective on the things you may subconsciously be obscuring.
Someone to Tell You What You Do Not Want to Hear
Most entrepreneurs don’t go into business to run a company; they start a business to do something they love. However, no business owner is highly skilled in every area of the business. Sometimes one of the biggest hurdles to success is not knowing what you don’t know. A coach is not there to tell you what you want to hear, they are there to tell you what you need to hear. Not only will they challenge your thinking, but they will teach you things you never imagined.
Someone to Hold you Accountable
The road to success is a journey. There will be ups and downs along the way and you might not always have that passion that pushes you to reach your goals. Oftentimes, many clients know exactly what they want or need to do, they just need a little help getting there. Having a coach can help you rediscover your passion, clarify your business/personal goals, prepare a roadmap for success, stay focused, help you overcome obstacles, and stay confident.
Strategic Planning
Good strategic planning needs to be just that…. strategic. With a coach, you gain a trusted mentor who will guide you on your path to success. They will put things in perspective and provide you with invaluable ideas and strategies. A coach can help you objectively look at the market, the competitors, the customers, and yes, the employees. Speaking from experience, business owners and executive teams need an outside facilitator to help them successfully accomplish this. Whether you’re just starting out or looking to scale your business, investing in a coach is one of the best decisions you can make.
Succession Planning
A solid succession plan will maximize the company’s value and ensure future growth. Despite this, rarely is a company founded with any strategy to prepare it for that inevitable event. Over the years, simply growing and managing a business to maturity requires all the available time and energy, so most owners find themselves approaching retirement age without a clue as to how to make that necessary transition. There are two types of succession planning for a business. The first type is strictly internal and has to do with who will be moving up in the case of a vacancy. The second type is the succession of ownership when the current owner retires, etc. In our opinion, there are three types of business ownership succession planning: legal, financial, and operational. Our expertise is in the latter.
Developing a High-Performance Team
As every business owner knows, it’s not just about having people on your team, it’s about having the right people on your team that makes all the difference. Sure, you may know how to hire and how to hold people accountable. But do you know how to best motivate them, inspire them, and get them 100% engaged? A great coach will give you the tools to go the extra mile and turn your team into a high-performance team that consistently outperforms your competitors.
Becoming the Employer of Choice
Now more than ever, the saying that employees are your biggest asset rings true. One of the most important things you can do as a leader is show your employees you understand this, as well as the value they bring to the table. Over the last 3 years in this challenging hiring market, how many people solicited you because they wanted to work for you and your company? This is the ultimate test of whether you have a great business that offers great careers to potentially great employees, or whether you are just another business. A great coach will provide you with effective methods to become the employer of choice based on real experience, not theory, to grow your business into a magnet for top notch employees.