• Sunday, July 14, 2024
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BusinessDay

Business coaching benefits in the Corporate Suite (2)

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Entrepreneurship is neither cheap nor easy. It is a process and programme of innovative business development and value creation that requires so many personal attributes from the aspiring entrepreneur. Unlocking, developing and unleashing the entrepreneurship spirit to attain high potentials and achieve lofty business goals are the main thrust of every business coaching engagement. Business coaching in this regard compels the client to be more responsive than reactive to the operating environment. This is of course possible because the coaching process would encourage increased personal awareness as well as special or unique knowledge (or business intelligence).

There is a specific challenge that the budding and established entrepreneur, as well as business owner and manager today face. This is the challenge of business profitability and sustainability in a rapidly changing business environment. The truth is that the market dynamics are much more challenging today than it was a few years ago. Newand more sophisticated products are coming into the market more rapidly than was the case in the past. As a result, the business that would survive through competitive and comparative advantages must continually evolve and differentiate in the marketplace.

Interestingly, buyers in most markets are also becoming more sophisticated and discriminating in their purchase style and buying behaviours, which also means that the business that would continue to enjoy reasonable client base must be wholly market-oriented and responsive to the needs and trends of the target market. The challenge for the business owner and/or manager in this regard is to develop systems that would grow the business beyond the industry average and achieve so much more with so little. That way, economic recession woes would not cause business depression.

Business coaching essentially challenges the client to be more aware to the changes that are going on around, so that the client can respond more intelligently and actually utilise the changes to bring about more benefits for the business, as well as the target market. This of course will always demand a process of business re-invention. It is time that business owners/managers show that they are indeed “response-able”. They must creatively think out business solutions that would make them adapt better to changes.

Business coaching will always challenge businesspersons to seek opportunities through difficulties, especially by learning to see tough times as an opportune time to ask the right questions and learn the right lessons that will guarantee them greater all-round success. The role of the business coach in this regard is always to provide a new perspective and thinking about what ordinarily would constitute a business crisis situation. It is such perspectives that facilitate the unlocking and unleashing of potentials, essentially by uncovering hidden wealth within the business.

It is for this reason that people that embrace coaching in their business and are willing to make the necessary changes that coaching would compel usually become “quick learners”. The coaching process makes them to be more alert, more studious, more ambitious and more open-minded. Business coaching thus demands and compels “more” in terms of beliefs, clear thinking, decision-making and actions. The coaching process is often the best time to learn how to make the right adjustments to navigate tough times, and position yourself and business for the time of economic recovery and expansion. Therefore, don’t hopelessly look to the government and others for solutions. Be part of the solution and make a real difference in the marketplace.

The key factor in business coaching is to get it done as early as possible and not wait until there is a crisis in the business or organisation. Quite frankly, the best and most beneficial business coaching engagement is undertaken when a good business is to be taken to a higher level of performance, profitability, sustainability and impact in the marketplace. The mindset is this regard is more positive, in the sense that coaching is not undertaken in desperation or as a means of damage control or crisis management.

The greatest evidence of the benefits and positive impact of coaching in this regard is that there is much greater faith and motivation to face up to, and tackle difficult challenges within the business. Not only that, there is also the assurance that there would be focused and balanced feedback to and from the coach. As a result, there is much better use of time and energy by all that are involved in the coaching process. The beneficial impact of coaching is also more sustainable and measurable. You can read more about the transformational power of coaching at www.ceedcoaching.com.

Emmanuel Imevbore