Is business coaching helpful?
29 October 2018
First, what is a business coach? I like to think of it as a sports coach. Sometimes you love them, and other times you hate them!
Why? Because we challenge your thinking, goals and willingness to grow. … When the going gets tough, we get tougher.
But we are your “go-to-person”. We are your confidant, your own personal cheer leader who only wants the best for you, hence pushing you beyond your limits.
A good coach brings value by instilling the mental tools, confidence and clarity that helps you to navigate toward success both inside and outside of the business world.
I want to share a story of how business coaching has helped. A client was reviewing their next five years and starting to plan an exit strategy; a life of relaxation and fun! They were thinking about what type of organisation structure would be needed to get a big fat cheque when they sold. While, at the same time ensuring the business is profitable beyond them i.e. when they exit. The project was to develop an exit strategy.
When we started working together, it became clear there was a critical pain point in the business – COMMUNICATION. It was becoming more diluted, confused and fragmented which was causing tension throughout the business. The business was growing; and so was the complexity of the business. The owners, because they were working in the business, could not see the bigger picture.
As we journeyed through the day-to-day issues – we got clarity for the bigger oversight. The result was establishing a new organisation structure delineating Top line, Middle line and Low level management. What was missing for this SME was the “Middle Management” layer. Without this role, the improvement and efficiencies in business performance could not be achieved. And more importantly, getting an optimal sale price will be challenging. The current structure was causing major communication issues that were negatively impacting the business and the owners emotional balance!
By working through this process, the owners took the courageous step to create a new organisation structure to include an Operations Manager.
The value of a business coach is challenging the status quo; helping to grow in confidence; and instilling critical thinking which will assist in making better decisions. This is an example where an exit strategy was the longer term aim; and putting an a new organisation structure to support this, was what was needed.
I pushed them; I challenged them; they challenged me; but ultimately through pushing together we have an outcome that will ultimately lead to “cocktails at 3pm” for the owners.