Many businesses do not reach their potential because they’re not getting the right advice at the right time. An external business coach or mentor can act as an impartial third party that will find a business’ weak points and identify areas of opportunity. They will often bring in fresh ideas and expertise that can reinvigorate a business, providing an external viewpoint and unbiased advice about the best way forward. They’ll usually be experienced with a range of different industries and business types, so whatever your area of expertise you may find there are huge benefits from talking to a business coach.
There are many different skills that a coach can help with, ranging from the coaching of an individual to a whole department or team.
Business coaching is the guiding and moulding of the entire company structure as a whole. This can include ensuring each level of management from the top down understands clearly what their job is and that they’re doing it as efficiently as possible, or even assessing this structure as a whole to see whether it really fits the shape of the company. They may also be able to help with business planning, though this will be mostly in the sense of setting goals and thinking of ways the operation can be improved.
Executive coaching on the other hand focuses on the individuals in the chain of command. It’s a one-on-one mentorship for those who make important decisions, juggle the demands of clients and allocate resources. These high-stress positions are often arrived at without specific leadership training, so executive coaching is a chance to add these essential skills. Improving the leadership ability of one individual has a trickle-down effect for the rest of the company, and in some cases can be just as effective as wider changes.
Some of the skills business and executive coaches seek to impart include:
- Decision making and reasoning, and choosing the best course of action.
- People management, both allocating resources and setting up effective teams.
- Crisis management, reducing losses and getting the business back on track.
- Conflict negotiation, between both individuals and teams.
- Personal development, including reducing stress and feeling more positive about the job.
Business and executive coaches can offer huge value to your company, giving it stronger direction, increased efficiency and more durable structure. View the NZS.nz coaching and mentoring category for a list of businesses that offer this service. There are also a great range of executive coaching and goal tracking software type companies that may be worth considering.