Operating a business of any size is challenging. A business is a system of many disciplines that must effectively interact to create and satisfy customers to provide a satisfactory return to all stakeholders.
A growing trend is for businesspeople to retain the services of a Business Coach (BC) that they hope will enable them to better perform their function and hence improve the performance of the business. The question is “Do Business Coaches add value and are they worth engaging?” There is no simple answer to this question so here are some considerations that will enable you to arrive at an informed decision should you be considering the services of a Business Coach (BC).
Considering a BC indicates that you believe you have areas of improvement that need to be addressed [and don’t we all?]. Before deciding to talk to a BC, write a Self-Assessment that includes a Balanced Score Card review of the health of the business (financial, customer oriented, processes, people/learning & development) and analysis of your capabilities as they apply to the business.
For example, assess your capabilities of leadership, strategy definition, execution (getting things done), business planning that includes effective structure, marketing and sales, financial understanding, human capital management, innovation/product development, customer service, effective use of technology, etc. Write a list with the headings that matter to your business and to you, then score yourself (out of 10) objectively against each area. If possible, have a trusted 3rd party review it with you to uncover your ‘blind spots’. Once you have completed this analysis, you can identify the areas that you and the business need assistance with and decide if a BC is needed.
Assuming you decide that a BC is needed, you can use the analysis to focus on finding a BC that has demonstrated capability in the areas where you need the most assistance. To identify a suitable BC, look for ones that have personal successful experience in those areas and who have demonstrated successful coaching of others that had similar circumstances to you.
There are different types of BCs:
BCs that offer personal coaching yet have little experience in facing and overcoming the areas that you must address. Whilst it is good that they can build your self-confidence and offer you advice on personal aspects, it is difficult for them to discuss methods for you to succeed because they do not have the experience or knowledge to work with you at a deeper level.
BCs that offer coaching on narrow subject areas, such as finance or marketing, where they have demonstrated experience and success, but they lack the background to assist you with the business in its entirety.
BCs who have been through a ‘canned’ process to be ‘certified’ as a BC so that they can use a slick marketing/sales program to gain clients, then apply a ‘one size fits all’ approach that they bought from their franchisor. Every business situation is unique and requires the leaders of the business to creatively drive it, and where necessary, seek expert advice to assist them to address the requirements. Such a ‘one size fits all approach’ is unlikely to be valuable.
The answer to ‘Are BC’s worth it?’ is a qualified ‘Yes’. Provided you have done your self-assessment and have a clear idea of the type of BC that you require, you will be able to identify an appropriate BC, agree the frame of engagement with them, then work together to formulate plans and actions that you will execute under the coaching of your appropriately qualified BC. One last point: be sure that you retain a BC that you like to work with as a person. The ‘Staff Sergent’ approach might seem good on TV shows, but in reality, no one wants to work with an overbearing BC.
Philip Belcher MBA, FAICD, FIML is a specialist CEO Leadership, Strategy, and Execution Advisor and Principal of LSE Consulting Pty Ltd.
philip@lseconsulting.net.au
