What is Business Coaching?

Business Coaching:

It is the accompaniment process of a business coach with an entrepreneur, whose objective is to find solutions for the most important issues of your company, through awareness and learning.

As an example, a consultant is an expert who solves specific problems in an area of ​​your business. Discover the root cause of it and help you solve it. Once resolved, it is removed. A Business Coach is a professional who develops an interactive relationship with the entrepreneur and his work team.

The Business Coach understands what you want to do with your business and then helps you figure out how to get there. That means he works with you to develop clear and specific goals that you will need to work on to reach the potential of your business. He will also help you develop strategies to more easily achieve these goals.

And once those strategies are developed, they will be with you to implement them and measure the results. You will focus on immediate results, but the most valuable consequence is the transformation of your personal way of leading.

Due to the nature of the process, clients who hire Business Coaching are entrepreneurs or business owners who seek to improve aspects of their company. They make this hiring, both for themselves and for their teams.

In general, these entrepreneurs seek to improve key aspects of their companies such as time organization, money control, sales improvement, profit increase, system definition and having an adequate team.

The business coach brings a great knowledge of what coaching is and a great experience of how business works, due to having been previously an entrepreneur.

And the entrepreneur finds it very difficult to have objective answers about themselves and their businesses. The business coach helps you by giving you a clear and objective point of view of the situations your company is going through.

Currently the business world is demanding more and more professionals who can guarantee results. And this is the great virtue of the business coach. Works 100% on practical aspects and guarantees the requested results.

For the success of the coach’s work, it is essential that the employer is committed to it. He must be a strong leader to be able to direct his company and his personal company, but at the same time have the humility and simplicity necessary to learn, improve his skills and listen to his collaborators.

Business coaching (in English ‘coaching’ means ‘training’) is an action-oriented method (directing, instructing and training), designed for entrepreneurs and their teams to improve and develop their business skills. In this way they will reach the common objective established by the employer.

Finally, the business coach aims to get the entrepreneur and his team started. It starts from the basis that the person who receives the coaching is the one who has the most and best information to solve the situations they face. He just needs his coach or business coach to help him help and guide him to do it.

Business coaching and business consulting, are they similar?

Business coaching is a clearly differentiated tool from business consulting. However, this last concept is very broad and widespread. For this reason, it is not uncommon to consider coaching as a specific form of consulting.

Indeed, there are many points in common between both concepts. Both are external help tools for the company. And they are offered by competent professionals in providing this type of service. They do it personally, individually or in groups, adapting to the specific needs of the company. In addition, they are always looking for certain objectives to improve business results.

What is it that properly characterizes business coaching?

Business coaching is primarily aimed at increasing the skills of the entrepreneur or executive. This personal growth will be what will produce the achievement of the objectives and the improvement of the company’s results.

However, business consulting does it in a different way. Above all, it uses specialized knowledge from outsiders. And he does it for a time, which no member of the company has. In conclusion, it is like a temporary loan of specialized knowledge.

And this is the main difference. Business coaching does not want to solve challenges only with external knowledge. First of all, he wants the necessary knowledge to be incorporated into the company. And, second, that the skills are developed to better run the company now and in the future. Therefore, it does so by making the most of people’s capabilities.

Process that the employer usually follows

The businessman sees different situations to improve. For example, he sees that part of the financial structure of his company needs improvement to avoid cash flow problems. Or to have the financial capacity for growth. For whatever reason. This entrepreneur is a very busy person.

He has the feeling that he does not reach everything. And he cannot consider dedicating himself personally to designing a new financial strategy with the implementation of his systems. That’s when he thinks of hiring a finance consultant. Business coaching for small business in new jersey, This is the most usual and traditional option: let someone solve the problem for me. If my company is not large enough to have a financial department, contract external services and everything resolved.

So far what has been the most common. If this businessman knew about business coaching, he could approach it differently. What is the part of the financial strategies that I, or someone on my team, must master? And what is the part that we do not need to master, and that, therefore, I can outsource? Logically, this differentiation has to do with the heart of the business and with what the value contribution itself is.

They are very different approaches. Mainly there is a difference in width of vision. In the first case, a problem is being solved in isolation. And in the second case, the problem is being used to build a more competent company.

Build the company or make it work.

Business consulting is linked to a way of managing that consists of “making the company work”. On the other hand, business coaching is in tune with entrepreneurs who want to build a company that works for itself.

The one who is dedicated to running the company is usually completely involved in the operation of the business. He does not have time to think about building the company. It’s a luxury you can’t afford. You need results now. He always has to take the shortest path. You cannot entertain to look from side to side.

The one who is dedicated to building the company also needs immediate results. However, he is well aware that he cannot continue to add up forever. He must go on to multiply. And he also knows that the usual work for immediate results is the only chance to find the multiplier systems. He will not have other opportunities. Nor can you afford to miss out on the daily opportunity to build the automatisms that multiply your resources.

Know or learn.

Hiring a business consultancy is renting knowledge for a time to obtain a result. It’s not a bad operation. In other words, I can’t know everything, and neither can my people.

Since I can’t know everything, it’s important to find out what I need to know and what I don’t. From there, learn what I need and make the most of what I already know. Also, it’s usually more than I think.

I am not referring only to intellectual knowledge; I am referring above all to knowing how to do. Most entrepreneurs I have met have the knowledge to run the company well. There are always small gaps, but nothing to write home about. And most of the things they know they don’t use at all. Now, what I find they lack are skills. Communication skills. Also of negotiation, of making decisions, of planning. Or time management, emotion management, vision, etc.

Know how to do and do it

Consequently, there is only one way to learn the know-how. And this is to do it, and do it in good conditions. It is a learning process that is based on training and flight hours.

Coaching means exactly that: training. Learn by doing the same things over and over again. Correcting the vices, until the work is mastered, and things go well and almost automatically.

And training has another very important advantage. This is that it keeps you fit psychically, and it keeps your ability to learn new things awake. This is an advantage that is more and more necessary every day.

In conclusion, coaching is investing in oneself, and business consulting is an expense to cover what we do not know. Both things are necessary and complementary.