Whether you’re starting out in your career, making some changes to an established business, or need a mentor through each stage of business, having a coach to lead you in the right direction can be invaluable.
What is Business Coaching
A business coach offers an outside perspective for you and your business. They support and provide advice to organisations on business issues as well as issues more personal nature like workplace stress or career fulfilment. A business coach assists with strategic objectives and helps you to align your values and goals with a vision for your business. During this process they observe what you are doing and hone in on things that are working or providing frustration. They then support you to refine your talents, focus your goals, and provide advice to help you become successful in your business.
Business Coaches act like mentors and trainers, they teach skills required for you to be successful and also provide advice on questions or challenges you experience. In comparison to a consultant, a business coach supports personal growth and business success becomes a secondary outcome. A common misconception is that a business coach and consultant are similar. Coaches provide direction, feedback, guidance, and perspective. They help you to become successful which has a flow-on effect to the rest of the organisation. Whereas consultants work directly in the organisation and help to develop business growth and assist in achieving results organisation wide.
Why Hire a Business Coach
Someone may hire a business coach for several reasons, such as strategic alignment, mentoring, and direction. A business coach is not like an industry specific consultant that will help to fix your business. In fact, working with a coach can be a deeply personal arrangement as they challenge you and provide an outside perspective on things that may or may not contribute to your success.
Some common situations that alert you to the need for a coach are:
- You are unsure about the next direction to take
You may find yourself at a crossroads, your business is succeeding and you are ready to scale but you are unsure how to do that. A business coach can help to provide you some direction such as expanding your product or service offering, exploring new markets, or increasing prices. A business coach is unbiased toward your business and can help you develop a clear path to growth and how to get there.
- You need someone to challenge you
Just as we work with a personal trainer or nutritionist to help our physical health, a business coach can pull you out of your comfort zone and get you thinking about how you can challenge you in your business and boost your performance.
- You need a sounding board
A business coach becomes your sounding board. A business coach has a great deal of experience working with other businesses. They can provide you with advice and provide caution of what not to do, allowing you to learn from their experience.
Making an Impact on New Zealand Business
Whether you’re starting out in your career, making some changes to an established business, or need a mentor through each stage of business, having a coach lead you and your team in the right direction can be invaluable.
Business Coaching Benefits
Whether you are leading a small or large business, business coaching may be a worthwhile investment. Being a Business owner can seem isolating at times, of the many roles a business coach plays is to be a sounding board and mentor. They are there to help you overcome challenges, provide advice based on their industry experience, and help you find solutions to problems quickly.
Some of the many benefits of business coaching include:
- Improved working relationships between direct reports and leaders
- Team building
- Reduction in conflict
- Improved business relationships with clients
- Close the gap between where you are and where you want to be
Business coaching tools and resources
We use the latest in assessment technology, the FinxS Online Platform. The FinxS Platform provides us with revolutionary resources to transform any business, including DISC assessments and 360 feedback.
We use DISC assessments to support individual and organisational development. The online questionnaire takes no more than 12 minutes to complete and the resulting report is easy to read and interpret. DISC assessments help you to understand your unique strengths and development areas. As well as your ideal working environment, how you prefer to communicate and how you are motivated. A DISC assessment will also reveal your natural leadership style and provide unique tips to support your performance.
360 Feedback Assessments
360 reviews are an invaluable tool to understand precisely where employees need further training and support to improve their performance. A number of managers, colleagues and direct reports are invited to provide feedback using an online survey. Results are usually presented anonymously and provide insight into how the individual’s competency level is perceived. In-depth reporting allows you to analyse results to identify key themes and emerging issues that may require additional coaching and development.