What is Business Coaching?
As a business owner you are constantly juggling many balls in the air – sales , marketing , purchase , production , finance , accounts , employees , customers , banks ….. and the list goes on. You are extremely busy running your day-to-day business. You seldom find time for your true role as the head of your organisation- that of planning the growth and development of your organisation, taking your business to the next level.
And based on our discussions with a large number of business owners, they are not completely happy with the current state of their business nor sure how they will be able to take their business, in the direction they wants it to, in the future.
What Is Coaching?
The term Coach is derived from sports, but how does that apply to a Business Owner?
What professional athlete hasn’t used a coach to win? Sachin Tendulkar or Tiger Woods are the best, so why do they need a coach? The coach can’t perform better than them in the field, and yet they hire a coach. They understand the value that comes from having someone work directly with them, someone to point out things they can’t see, someone to keep encouraging and challenging them to achieve his greatest potential. That’s who we are for you.
Though coaching is very useful to business owners who have problems to deal with, it is not only for people with problems. The best sports persons in the world use coaches to better their performance. Coaching is quickly becoming one of the leading tools that successful people use to live extraordinary lives.
Through weekly coaching sessions as your coach, we work with you to identify where you are in life, what you want personally and professionally, give you an outside, impartial, professional perspective on your business and life. We will take you out of the day to day routine, align you with what you really want and get you firmly on your path to exceed what your thought was possible.
How Is Coaching Different From Consulting?
Coaching is a form of consulting -- all coaches are consultants, but few consultants are coaches. Unlike Consultants who tell you what to do, your Coach will do more than just show you what to do.
They'll be with you when you need them most … as each idea takes shape, as each campaign is launched, when you need little pointers for making 'it' happen, when you need someone to talk to, when you're faced with daunting challenges, and most importantly, when you're just not sure what to do next. Your Business Coach will be there every step of the way.
As an example, if you were interested in learning how to ride a bike, a consultant would tell you how to balance yourself, where the brakes are, and perhaps point out flaws in your riding technique.
In contrast, a coach would do all of the things the consultant does and then continue to run along side of you if you were to fall or need support on the way. A coach will support you, hold you accountable and when required, push you to heights you might have thought to be unreachable.
How is coaching delivered? What does the process look like?
Business coaching is the step-by step program, As the business owner, you will spend around 2 to 3 hours every week, with me, the business coach, on a specified day, mutually agreed upon. We will at that time discuss the specific portions of your business and decide the actions which need to be taken, every week, to help you achieve the results listed below and much more.
The duration of business coaching depends on business needs and preferences. The typical engagement is from six to twelve months. We begin our work together for an initial three-month engagement.
While the Coach will be providing you with guidance, direction and program materials, such a role is advisory. You will be primarily accountable for producing the results in the Program. If the coach takes the accountability it goes against the basis of coaching. The point of coaching is so that you don’t just get the solution for your challenges but also learn how to deal with all such situations should they come up in the future, as they definitely will. The principal is – to teach you how to fish instead of giving you fish. In this way the Coach seeks to educate you in order to make your success a life long activity.
The Coaching Relationship.
A business coach acts as a strategic business partner. A coach does not relate to the client from a position of an expert or authority.
Coaching is not a dependent relationship. The goal of business coaching is to no longer need a business coach.
Our goal in business is quite simple… to help you reach your goals.
Confidentiality - All the data, information that will be collected and shared as a part of the Coaching, will be kept totally confidential by the coach.
Business Coaching Methodology
Analyzing and documenting all the aspects of the current reality of the business, and clients are often surprised by what the real picture is as against what they thought their current reality is.
Identifying and achieving total clarity in business and personal goals, Clearly setting the goals of where the client wants to take his business and personal life.(Including the purpose of the business, its Vision and personally what the client really wants to DO, BE and HAVE in his personal life.)
Looking at the big picture for you and your business, and charting out a clear focused action plan, of unquestionably getting you and your business to where you envision it. Coaching you in overcoming the blocks which keeps you from performing your best. Overcoming your barriers/ obstacle / fears that are holding you back from realizing your true potential.
How do you know what to fix if you can't see that it's broken? Developing testing and measuring systems for various aspects of your business so that you have an exact idea how various proportions of your business are performing, so you know what strategies are working what are not. Where to invest and where to stop wasting money?
Examining and analyzing the various areas of Marketing, Sales, production and Profitability of the business and taking your business to the next level-especially profitability. Mapping the organizational setup and developing systems and a flowchart of work. In a easy to understand manner.
We will work with you in six key areas…and the emphasis in each will depend on you, your business, and of course, your goals. These key areas are :
Testing & Measuring… The first thing would be to test and measure the various areas of your business. Most of the businesses don’t have a clear idea in measurable terms of various areas of their business and are working in darkness. As long as they have money in the bank account they feel that the business is all right. Rarely is such a case.
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- Break even
- Financials - P&L ,BS, Cashflow
- ROI
- Cost & expenses
- Working capital
- Profit margins
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- Time study
- Origin of leads
- Conversion rates
- Average customer transactions
- Delivery with systematic consistency etc
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Based on this measurement, which are known as the key performance indicators we will decide the various improvements required in specific areas, which will impact sales and profit growth.
Sales & Marketing… Build your marketing engine. An Integrated marketing plan and implementation, not picking up a few separate marketing activities and trying it, and hoping for the best.
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- 5 way business chassis
- USP & guarantee
- 10 X 10 marketing plan
- Sales scripts and training
- How to increase no of leads
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- How to increase conversion rate
- How to increase no of transactions
- How to increase average sale
- How to increase in margins etc
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Systems… End the hopeless cycle of ‘the business running you’ and begin running your business. Documenting and Setting up the required systems, -moving the business from people dependency to systems dependency. (It also ensures that when an employee leaves the organization, other person can quickly fit into the place, because of the systems.)A step by step program to take any function in your business and turn it into a repeatable, reliable process, complete with checklists and full documentation so that anyone in your company can do it just as well, by following directions. (Putting it on Auto Pilot) having the business ‘work’…even when you’re not there.
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- Workflow processes
- Operations manuals
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- Sales and marketing systems
- Purchase systems Etc
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Recruitment & Team Building… A successful business will get increasing output, by getting all the employees working as a team and not as separate employees .You now lead them, not just manage them.
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- Recruitment Policy
- Job Profiles
- Organization chart
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- Well defined roles and responsibilities
- Key Performance Indicators
- Team building etc
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Synergy… Grow the business to a level, where you can hire someone else to run the day to business and you can build the vision for your business.
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- Recruitment system
- Training system
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- GM to run the company etc
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Results… Build your business to a level, where business is now running without your day to day intervention. You can now invest in new businesses and opportunities.
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- New business opportunities
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| Each step, as well as each activity in the step, gets implemented through a well defined method. |
“Creating a commercially profitable enterprise that works without you.” |
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