What is Business Coaching ?
Business coaching has various facets to it. It can be effectively used by senior executives in an organization, business owners, professionals, self employed etc. It is defined as a relationship formed between a client and a coach who uses a wide variety of tools, behavioral techniques and methods to assist the client to achieve a mutually agreed and defined set of business goals.
Business Coaching Questions:
In today’s uncertain and complex environment, coaching is particularly important. Every one needs a coach. Be it a sports person, a politician, a celebrity, a professional, business owner or a senior executive in an organization. In today’s fast paced world and cut throat competitive world, it is difficult to keep up with the changes and the challenges. You are so involved in your day to day routines that you stop looking at things objectively and get stagnant. The coach will always look at things objectively and help you understand what is required to go to the next level.
A coach is as good as the coachee. For coaching to be effective the coachee needs to be willing, participative, open and transparent. The coach is like a doctor who can diagnose and prescribe but only after listening from the patient his current health situation. The prescription will work only if the patient implements the doses. The following are the key elements for a successful outcome of coaching:
• Be willing and Open to share & accept current situation.
• Listen, Listen, Listen
• Commit your time
• Be non judgmental & drop the baggage
• Implementation is the key
• Be positive and supply patience to see the results
Business Coach can certainly put strategies and steps in place to help you grow your business. A coach can also help you in increasing your productivity with current resources, make your processes smoother, better team bonding and overall a happy organization.
Small and mid size businesses will certainly benefit from coaching. In fact you will benefit more because you normally do not have the luxury of hiring large coaching and consulting firms due to the heavy cost factor. Also being a owner you faces more challenges due to lack of economies of scale and develop blind spots faster.
Change can’t be brought overnight and goals take time to accept, act and achieve. The ideal duration of coaching will depend on the objectives and the outcomes expected.
Lokesh brings to table over 25 years of experience in building business. He was part of the leadership team for credible brands like Franklin Templeton, HDFC AMC, ICICI PRU AMC, Motilal Oswal AMC, Development Credit Bank etc. He has successfully launched funds by building a robust and sustainable business practices. He has successfully completes his 1 year Senior Management Program from IIM, Calcutta. He is also a certified financial planner from Financial Planning Standards Board (FPSB). Coaching people and helping them remove their blind spots, visualize their goals, execute the business plans and see them grow is very fulfilling.