Posts Tagged ‘planning’

Stay in The Game – Hire a Business Coach

Wednesday, October 14th, 2009

Football Coach

Football season is well underway. But sports teams aren’t the only ones hiring coaches. Many executives are proactively participating in their own recession recovery by hiring a business coach to sharpen their vision. It’s not just CEOs; small business owners also realize that they should use every weapon in their arsenal to their business advantage. A recent study showed that life, executive and career coaches are a multi-billion-dollar industry.

Business coaches are nothing new; they came to popularity in the early 90s. The resurgence is both a reflection of the individualization of the marketplace as well as a reflection of the collaborative, global focus of the times. A business coach’s job is to ensure that their client’s values and skills are identified, highlighted and used to their highest and best use.

How do you decide whether you need a business coach?

Are you ready for change? In other words, are you willing to quickly implement the coach’s suggestions, at least give them an opportunity to succeed?

What are your knowledge gaps? Do you understand all the aspects of your business? Are you willing to make honest assessments and adjustments?

Would you prefer someone local or remote? With our wireless world, your business coach could reside anywhere. One company, The Coach Connection, is entirely telephone-based.

Are you and your coach a good fit? This is essential. Some coaches specialize in a specific business or industry. Others take a more holistic approach, integrating the leader’s life and work goals. Some coaches ask a series of questions to help a client arrive at a conclusion. Some coaches are business experts, others are not. Find a coach that works for you.

Leading and executing a vision can be a lonely quest, but you don’t have to go it alone. My consulting company brings perspective, insight and clarity to executive coaching services. Contact me for more information.

Staying the Course in Rough Waters

Wednesday, October 14th, 2009

Rough Waters

Waves of negative quarterly reports. Lightning-fast layoffs and cutbacks. Winds of bad news. We’ve been in economic downturn cycles before. But slowly, finally, things are slowly starting to look up. Here are my thoughts on how to prepare for smoother sailing as well as stay the course in rough waters:

Think like a newbie. If someone approached you with a business plan for your existing company, what would you tell them? This is a good time to bring in coaches who can offer a fresh perspective on achieving your company’s vision.

Act like an entrepreneur. What do Microsoft, Hewlett-Packard and Disney have in common? According to Bankrate.com, they all started during economic downturns. So did half of the 30 companies that comprise the Dow Jones industrial average. In fact, entrepreneurial startups by laid-off and downsized employees, managers and executives often help get the economy growing again. What can you learn from companies (like Southwest Airlines) who epitomize lean and mean?

Connect the dots. What people, resources and strategies need to be in place for your organization to achieve its existing business goals? Start planning now to get what you need in the future.

Go against the grain. Listen to a variety of perspectives and strategies, including the ones you don’t agree with. It will make you a more well-balanced decision-maker.

Tighten the purse strings. Get efficient when you don’t have to. Spend money on the things that help you make money.

Take a deep breath. Literally. Deep, cleansing breaths can help lower blood pressure and bring calm, both of which you’ll need to think clearly as you plan your company’s next move.

What is the most effective method you’ve employed for thriving in tough times? Thoughts?