ESSENTIAL BUSINESS DEVELOPMENT TIPS
Posts Tagged: business coach
Just as you might hire a personal trainer to ramp up your fitness routine, a business coach can be a terrific choice for an entrepreneur or executive looking to ramp up their business. Whether you are just getting started or feel as though your business is at a place where it could benefit from a fresh burst of energy and ideas, a business coach can help you grow and transform your business in exciting new directions.
Redefine your goals
A great business coach will work with you to develop tools for assessing existing goals and creating new ones as well as defining the steps you must take to meet those goals. Whether you are at the start of your career or an industry veteran, a coach can spark innovative ways of looking ahead to your short and long-term future and help you make concrete plans that will take you and your business to the next level.
Maximise your resources
A business coach can bring a fresh eye to your current resources and examine how you can make better use of them. Those resources may include everything from employees to access to funds and more. You may be too close to your business to adequately assess the potential, but a business coach will work with you to fully understand the scope of that potential and how you can access it.
Develop your leadership abilities
Strong leadership is key for success in business, and if you are struggling in this area or would just like to improve on an existing strength, a business coach can work with you to develop these improvement strategies. Strong leadership means a strong, growing business.
Provide a personalised approach
You can read dozens of business books and attend any number of seminars, and those can be valuable resources, but none of them can provide the specific attention tailored to your business and your needs that a business coach can. A coach can work with you to identify the specific impediments to growth faced by your business and discuss how to overcome then.
Whether you need to change your marketing approach, increase revenue, arrange for further training for yourself or your employees or take some other action, your coach can help you develop a plan.
A business coach helps to keep you accountable
Making a plan is only a small part of what must be done to transform and grow a business. A business coach helps you stay on track, assess progress and the effectiveness of your work so far, and make adjustments as needed. Regular meetings can help to ensure that you get the feedback that you need.
The role of a business coach combines aspects of a mentor, a teacher and even a therapist, but the unique partnership between you and your coach is on a more equal footing than any of those relationships.
A strong business coach means a strong business, and you can benefit from this input at any stage of your career.
Tim Meagher is a professional business coach with over 40 years experience and can help you to develop your business, Learn More About Tim.
What is your greatest challenge right now?, why not claim your FREE Business Coaching Offer to find out! Simply click the image below for more details.
Motivating employees and ensuring that they are working to their full potential is an important aspect of being a manager. Doing so involves engaging employees as fully as possible in their daily tasks.
Here are five employee management tips to strengthen that engagement and help you get the most out of your employees:
1. Get them invested in the success of the business.
If a manager can pass a portion of company profits on to their team in the form of performance-based bonuses, this is one of the best motivators. However, if this is not possible, less costly incentives may range from a staff pizza party to ensuring raises and promotions for those who are integral to that success. The key is to make sure that the concrete success of the business is linked to those incentives. Managers should also make sure that staff understands the company’s vision and how their work supports and advances that vision.
2. Show appreciation
This is separate from linking employee efforts to company profits. Showing appreciation in this context should be based only on employee performance. In fact, it may be particularly important to do so during times that are stressful and when employees are working hard but seeing few concrete results.
It may not sound like much, but saying thank you is something managers should make a point of doing on a regular basis. Employees should be thanked for going above and beyond but also for their regular efforts.
Appreciation can be shown in other ways as well such as complimentary tickets to watch a local sports team play or periodic staff luncheons for which the company picks up the tab.
3. Work to align employees with job descriptions that develop their interests and skills
A good manager should know their employees well enough to know what they like and what they are good at. Working to ensure that team members are in positions that make the best of their strongest skills as well as giving them the opportunity to build on their interests is another way of making sure that employees are invested in their jobs.
4. Give them autonomy
Who is likely to perform at their highest level: people who have very little say in what they do, how they do it and when they do it or people who have at least some input into how their work day unfolds? Many studies have shown that a lack of autonomy can be a major source of job stress, so finding ways to give employees some control over their work can go a long way toward reducing this stress. Whether it is empowering employees to make decisions, permitting them to develop their own processes or simply allowing them to make some choices about the order in which they will work on tasks on any given day, granting some independence to employees will enhance their job performance.
5. Promote effective communication
Employees should have a clear idea of what is expected at them at work, but managers need to go beyond communicating with their staff. They should also work to foster communication between co-workers and between their department or work group and others. Good communication should include directness and transparency. Employees should also know how to proceed if they have a grievance about an issue or co-worker or other problems at work.
One of the most important aspects of Staff Development and getting the best from employees is making sure that employees know they are valued. Concrete rewards and demonstrating appreciation for company success and for hard work, providing employees with engaging work and independence, and making sure that communication is smooth at all levels will make the workplace one where employees excel.
To assist further in getting the best out of your employees we recommend downloading a FREE copy of our Happy and Effective Staff Handbook. Simply click on the image below.
Great leadership is an essential component of a good workplace. A business can limp along with weak leadership for years or even decades, but it will result in a workplace plagued by problems such as interpersonal conflicts and high staff turnover. You need people in your company at all levels who can harness and direct the talents of staff in a direction that benefits everyone. Great leaders do this by improving the workplace in a number of specific ways.
Leaders are great motivators. However, leaders don’t just motivate; they also empower people. They show employees their own potential, and they know when it’s time to step back and let people take the reins themselves.
This includes allowing people to make mistakes. Great leaders know that failure is not the end of everything and can even be instructive. A workplace where people are allowed to fail from time to time is one that encourages innovation because innovation cannot occur without risk. This atmosphere of innovation makes for a dynamic and engaging workplace.
Leaders connect the big picture to smaller actions. A company may have a mission statement, but how does that connect to what an individual department needs to do or with the job description or daily duties of a single employee? Workplace leaders know how to tease out those connections and demonstrate them to others. Employees then feel connected to a larger purpose, and even their more mundane tasks take on a new importance.
As part of connecting the larger picture with smaller tasks, leaders help define and direct concrete goals. These should be a mix of short-term and long-term goals, and the goals should be building blocks toward the larger aim of the company.
With the guidance of good leadership, these goals can also be aligned with an individual’s personal goals.
For example, an employee may wish to seek further education or certification in a particular area. The employer might benefit as well from having an employee with this enhanced skill set and be willing to pay for some or all of the education. A workplace leader would help identify these individuals and align these needs for everyone’s benefit.
Because good leaders are also good communicators, a good leader can effectively demonstrate how these goals are connected with the mission of the company. Strong communication from a good leader is important in other ways as well. It sets a standard throughout the workplace, and a workplace in which employees are encouraged to communicate clearly is a more functional workplace.
Without Strong Leadership, it can be surprisingly easy to lose track of goals or become sidetracked with tasks that are ultimately relatively unimportant. Leaders help keep people on message, on task and working toward a common goal.
Ultimately, the strength of leaders in the workplace is that they promote both intangible and tangible qualities that are essential to success. On the intangible side of things, they have the ability to imbue employees with passion and connect them a larger sense of purpose. On the tangible side, they break goals and tasks down into manageable units and demonstrate how those units work together for the advancement of the workplace and its employees.
The other key quality of leaders is their ability to bring out the best in people. In helping employees reach their full potential, leaders strengthen both individuals and companies. In identifying the unique qualities that each employee possesses that can advance the goals of an organisation, a leader makes employees feel that they are valued in the workplace because of those unique qualities and that they are not easily replaced.
Small and medium enterprises have different needs compared to larger enterprises. One challenge these types of businesses tend to face is that due to their size, their owners and sometimes their employees must often wear multiple hats. This can result in short-sightedness and burnout even among the most talented entrepreneurs and employees.
A Business Coach working in these environments can help SMEs get back on track toward long-term growth.
Here are 6 ways a business coach can help to grow your SME:
- Business coaching builds efficiency. Owners of SMEs may be working in a reactive mode that simply does not provide the time needed to examine and streamline processes even though doing so is ultimately in the business’s best interest. A business coach with experience in the industry can help SMEs identify areas where time management can be improved and processes can be made more efficient in the long run. With more efficiency at every level of operation, an SME is better poised to expand.
2. Business coaching helps owners prioritise. Running a small or medium-sized business can be overwhelming, and business owners may lack the time to sit down and examine what needs to be done most urgently. Business coaches can work with owners to identify a business’s most pressing needs and what is needed to foster growth as well as helping owners develop the skills to prioritise on their own.
3. Business coaching can offer valuable consultancy and problem-solving when staff numbers are small. Particularly in the early days of an SME, the company may be operating with minimal resources including few employees. A good business coach can bring a wealth of experience to challenges the company is facing and act in a consultancy role to shore up the knowledge areas where staff may be stretched thin or less experienced. This expertise can help facilitate a business’s growth.
4. Business coaches can provide expertise in running a small business. The owner of an SME may have never run a business before, and in these circumstances, a business coach’s experience can be helpful both in establishing and growing the company.
5. Business coaching can assist in building a medium and long-range growth plan. Owners of SMEs may simply feel they are too busy to sit down and make longer-range plans for the company’s growth while partners in business may struggle to find time to talk to one another about the direction they would like the company to take. A business coach can help facilitate these conversations and these plans.
6. Business coaching can identify and develop leaders within SMEs. SME owners are not the only ones who can benefit from business coaches; their employees may as well, and in turn, those employees will become more valuable to the SME. In fact, business owners can identify the most valuable employees in terms of leadership and work with them to develop those skills in a way that will create more growth for the company.
A great Business Coach can bring a mix of skills to an SME from general business experience to more specific industry experience to operating in a kind of counselling role to business owners and employees. Many SMEs find that they benefit from maintaining an ongoing relationship with a business coach who is familiar with their business and their needs and can respond in a dynamic fashion to a company as it grows. By helping businesses become more efficient and helping owners prioritise, by working with owners to set goals and plan for growth, and by helping to identify and develop employees who can be key to a business’s success, a business coach can make a critical difference in the expansion of a small, ambitious company.