"The only constant is change, and the rate of change is increasing" - Peter Diamandis, Founder of Singularity University 

The Changing Business Landscape

Making good decisions in uncertain times is often what great leadership is about. Currently, business leaders are not only faced with an onslaught of external challenges such as market instability and faster growing competition, but also internal challenges within the company. As millennials become a bigger part of the workforce, technological advancements enable businesses to do far more with far less, and the old ways of managing a team become redundant, business leaders need to be able to navigate the changing business landscape, and gain clarity on the steps they need to take to move forward.

At times like this, bringing on a business coach can often feel like a luxury. However, a business coach will support you not just in making the strategic adjustments needed to navigate the current landscape, but also by having a direct positive impact on the business’ revenues, profits, operational efficiency and employee performance. The decisions you make now will be critical for your organisation, as they will decide whether you sink, survive, or thrive. The businesses that will come out on top are the ones who embrace this shift, and have the guidance and support to see the forest from the trees.

You can read more about The Second Wave Of The COVID-19 Crisis' Impact On Businesses here

Why Every Business Leader Needs a Coach

A recent study by Infusionsoft revealed that business coaches are increasingly being used by SMEs as a key resource. The report states that:
“Several factors are driving the use of coaches and training. Business has gotten more complex and changes more rapidly. There simply is no longer the time to “learn while doing” or the margin of error to “learn by making mistakes” as in the past.”

Business coaching is not about “you” personally (the entrepreneur or the business leader). While business coaching happens through you, and also through your teams, the real client and ultimate objective is the business or enterprise itself.

The goals of business coaching usually falls into at least two of the following three goals:

  • Make the business more money, both through increased revenue generation, as well as increased profitability from existing operations.
  • Get the business to run more efficiently, particularly without the owners’ constant involvement, and to maintain efficiency as the number of clients and team members grow.
  • Get the valuation of the business to increase in the long-term, in a sustainable, reliable way, by implementing the principles of successful business into the core of the organisation. The Coach will also support you through the merger/exit, and help you find your next big business adventure.

As a business leader, it’s crucial for you to be focused on the big picture, but also direct every-day tasks like leading a team, driving sales, and managing operations. Business Coaching is an ongoing process where you’ll implement small, consistent improvements to see significant and sustainable impact in the long-term.

Read more about the Kaizen Approach here

Finding the Right Coach is Important

Given that you have to balance both the immediate and the long-term success of the company, your coach should be someone who, firstly, has faced similar challenges in their own career, and secondly, can help you work through it. A great coach will wear many hats, depending on what you need at the time:

  • Change catalyst
  • Sounding board
  • Impartial external advisor
  • Devil’s advocate
  • Insights and ideas stimulator
  • Window to best practice, in the same industry and other industries
  • Friend and guide
  • Someone to hold you accountable to your commitments
Read this post on the 7 criteria to consider before working with a coach

If you already have a business coach, but are not seeing the results you want, here are some questions you should ask:

  • Do they meet you where you are? Do they take the time to celebrate you, as well as be there for you when something really goes wrong?
  • Do they know where you're headed? Do they have a proven map that they use to ask the right questions for your business in the specific stage it’s in? Don’t assume they have a real plan or any legitimate training just because they have the word “coach” on their business card.
  • Can they hold a long-term vision while they help you fix the problems that exist in your business today? Do they notice patterns and trends, or are they just reacting to your daily frustrations? You want wise counsel, not just quick fixes.
  • Do they make you more curious? Their way of thinking about things should be infectious—you should find yourself asking other people the kinds of questions they ask you.
  • Do they understand what coaching is? Watch out for consultants in disguise and amateur therapists without the real training or experience to guide you.
  • Do they truly hold you accountable? They should be willing to call you out if you don't show up, do the work and make real change.
  • Do they hide behind lingo, lists or tricks? It shouldn't feel complicated to translate the work you do with your coach into your business and your life—hard maybe, but never complicated or unclear.

A true business coach will help you deliver measurable results on your key objectives: revenue, profitability, efficiency, employee engagement, or something else.

Want to learn more about how you can benefit from business coaching? Reach out to us today

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Murtaza Manji - Managing Partner of Kaizen Business Consulting Group Dubai
Kaizen’s team of experts have worked with 1050+ companies across 16 different industries worldwide to achieve higher profits, greater productivity, and sustainable growth by creating efficient systems and structure. Get in touch today to see how we can support you.