The business coaching industry has expanded tremendously over the past several years. Leaders everywhere are beginning to understand that they can’t do this leadership thing by themselves and are wondering if they need professional business coaching to help guide them in the right direction.
The business world has become too complex, demanding, and affected by internal and external forces rarely seen before.
Granted, COVID-19 was and still is a major wake-up call for us all. But I believe these times are already coming our way whether we are ready or not. The pandemic has just accelerated and blindsided us with the inevitable.
As a result, leadership has never been more affected. And if life is a team sport, why shouldn’t leadership be the same, if not more so?
Some leaders are entrapped by workaholism. Some have an over-amped sense of martyrdom, and far too many, I believe, have fallen into a deep state of hubris. The only thing worse than “I can do this by myself” is “Only I can do this, so watch me.”
It’s no wonder there have been more business books written on the topic of “burnout” in the last three years than all years previous. Even with A-Team assistance, many leaders are finally realizing they need help for themselves and their leadership teams.
This is where coaching has become an absolute necessity to thousands of leaders across our country. A good business coach, in confidence, can assist the leader with various points of value:
- Deep purposeful reflection
- Never-before sense of clarity, both personally and professionally
- Executable, measurable actions to handle any situation
- Drawing out the very best the leader can offer
Plus, the bonus is a much more balanced and healthy lifestyle. As a business and executive coach for over 25 years, the situations outlined below are far too common, fast approaching a pandemic all its own.
I ask that you reflect and be honest as you self-assess. Ask yourself what needs to change, then tell me with a straight face that a good business coach couldn’t help you get a better handle on your leadership, your business, and your life. Go on. I dare you.
Here are 10 reasons why the ROI on hiring a business coach is worthy of consideration. Do any oof these sound familiar? You may need professional business coaching.
1. You're too deeply entangled to see the big picture
In other words, you’ve been working in the business too deeply to be on it. When leaders get their heads stuck in the details, their ability to stay “on top” of things becomes seriously compromised. Leaders need to have their eyes more on the horizon than in the past and pay closer attention.
Business markets, conditions, competition, and global issues are changing daily. And remember that keeping your head up also means ensuring you have a good pulse on your team’s performance and overall culture.
It can be challenging to keep track while remaining aware of your team’s performance and culture. A business coach can help you focus on what matters, find options and alternatives, make sound decisions, and commit to taking the best action possible.
What percentage of your time do you feel you’re too in the business compared to on the business? Does this wake you up? Imagine having a trusted business coach explore these challenges with you, get clarity, reveal options and alternatives, make sound decisions, and commit to the best actions possible. How’s that feel? You need professional business coaching to help.
2. You don't know your numbers
Anyone can print out the financials, but are those the correct numbers to propel you to the success you want? Most leaders lack the processes to set up and execute the best systems for success. A priority of any business coach should be ensuring you’ve got finely tuned and up-to-date dashboards to track the numbers that matter most.
Leaders need to assist their teams with selecting, incorporating, and embedding the best dashboard tools, then be anal about entering the right numbers the right way. These need to be reviewed and updated weekly, preferably graphically, as over 70% of us are visual learners. On a scale of 1 to 10, how well do you know your numbers and how to take the right actions to ensure they go where you need them?
It’s one thing to create the measurements, and it’s another to create the right goals associated with those numbers. Goals take strategic action to reach, and professional business coaching can help you make a plan that works for you and your company. Does this wake you up? You need professional business coaching.
3. Your leadership has lost focus
Overwhelmed leaders are ineffective leaders — it’s as simple as that. You may feel like you’re going backward, and that feeling often manifests in finding yourself unavailable for direct reports or canceling meetings. You may find yourself ordering people around rather than listening to the expertise you should be enjoying from your team.
Under stressful times we all tend to lose focus. And almost everyone thinks they are good multitaskers. Well, I hate to break this to you, but true multitasking is impossible. So, stop it! Leaders must do a better job of blocking time to focus on one thing at a time.
The best way to put it is, “By focusing on less, you do more.” This is a challenge. And if we don’t change our ways, leadership can go backward.
If you’re not present due to mental or physical fatigue, you need to change. Any light bulbs flashing? You need professional business coaching.
A business coach will know where to start while keeping your end goals in mind from the beginning.
4. Your team does not support you
Sure, you’ve hired people who you believe are well-qualified and effective, but that doesn’t mean they are providing the support you need to help your business thrive. Often, even C Suite executives aren’t performing at the level many top leaders demand. Perhaps the balance of skills or networks is lopsided. Or, you may be missing an area of expertise you didn’t know you needed. Maybe some people aren’t pulling their weight.
This causes your teammates to lose focus on what matters most. Meetings are canceled. People call in sick. They are frustrated with the hybrid model, and stress is taking its toll. If you’re paying attention (see above), you’ll notice it. This situation is not easy to recover from. How will you address this? On a scale of 1 to 10, how much are you noticing and doing something about it? Does this scare you? You need professional business coaching.
It’s easy to know that something isn’t working. A business coach can help you figure out what — or who.
5. Your strategic plan is out-of-date
When’s the last time you addressed your vision? It’s surprising how many top leaders in industries worldwide start with an exciting plan only to go straight to Autopilot. It’s important to understand that every business plan should be a dynamic document that is addressed regularly. Otherwise, your strategy risks becoming irrelevant.
Far too many leaders build a strategic plan yearly, sadly too far after the new fiscal year has already started. A strategic plan needs to be drafted late in the third quarter or early in the fourth quarter. This positions you and your team to have enough of the previous year’s performance under your belts to best strategize for the following year.
Then, touch base regularly to ensure you are on track to achieve your goals. Do this either quarterly or perhaps monthly. Too many organizations perform a strategic planning exercise yearly, then stick it on a shelf in a very nice binder with a fancy label. Are you prone to creating “shelf help?” On a scale of 1 to 10, how healthy is your strategic planning process? Can you afford not to do this? You need professional business coaching.
6. Your team's execution lacks focus
If your executive team has lost sight of what’s important (or if they’ve never known), you are never going to achieve your goals. Too many organizations have never had adequate execution systems, processes, and tools to get the job done.
Just look at the results: If your execution systems and processes have fallen apart, it’s obvious. They say plan the work, then work the plan — not the other way around. If you’re constantly in crisis mode, chances are a business coach can help you get your strategy back on track.
Leaders need a rolling three-week view (depending on the KPI) of the team and company’s performance:
- How did we do last week?
- How are we doing this week?
- How well are we positioned to do next week
- NOTE: this approach can and should be applied to your daily and monthly meeting rhythms as well.
These need to be measured, even if it’s just yes or no. Remember: If we can’t measure it, why do it?
Repeat this review process weekly! No exceptions. Then, embed these as a critical component of your “operational DNA.” When done correctly and consistently, these systems, processes, and tools will set you and your team up to virtually eliminate the odds of failure. On a scale of 1 to 10, how would you grade your team’s execution of the right stuff?
A business coach can teach you how to schedule rolling three-week reviews. When these are in place, you’ll know how you did last week and how you’re going to do this week. There will be no surprises! You’re only surprise will be how effective it can be to integrate these high-quality execution tools into your operations. This will virtually eliminate the odds of failure. How’s that for a brand promise? You need professional business coaching!
7. Your high-performance culture isn't so high anymore
If your people are just as exhausted as you are — or more — you risk losing your A-players. When your team is unhappy, you’ll see it in the bottom line. Before you know it, your once-loyal team members will leave you for sunnier pastures.
When’s the last time you performed a talent assessment of your teams? What’s the breakdown of your A, B, B/C, and C players? Too many leaders ignore the A players, which is a huge mistake. They need to be engaged and challenged, or you may fall victim to “The Great Resignation.” Your good people (or anyone for that matter) start to leave, and you’re shocked. Overall, your people are unhappy. Your loyal few are considering leaving you for either personal reasons or better pay for the stress they’ve been under for far too long. Then you have to look for new people, and they won’t be cheap.
Stress is cumulative, as I’m sure you’re aware from a personal perspective. On a scale of 1 to 10, how aware of your people’s stress and engagement levels? Can you afford this to continue the way it’s going? You need professional business coaching.
This creates a domino effect that can be challenging and sometimes impossible to reverse. You need an up-to-date succession plan, and coaches are highly skilled at identifying problems before they become insurmountable. You can address the stumbling blocks before spending the extra time, energy, and money to find new people.
8. Your business is not what you envisioned
Have you heard the definition of insanity? It’s doing the same thing over and over and expecting different results. If you’re working long hours and the return isn’t justifying your efforts, the only thing to do is change. To make the correct change, you must first have an unbiased perspective of your current situation. A business coach can help you establish this baseline and build from there.
Bill Gates stated we often plan to do too much in the short term and not enough in the long term. What’s your time frame? Is it too much or not enough? Are you able to pivot if/when necessary? Are you nimble enough? Are you paying enough attention to the opportunities and threats portions of your SWOT assessment?
How often do you perform a SWOT Analysis? It should be revisited and updated quarterly. What needs to change: your activities or your vision? On a scale of 1 to 10, how aligned are your current activities with your original vision? Is this an eye-opener? You need professional business coaching.
Many leaders get discouraged and exhausted instead of being open to a pivot. The key to success is to be proactive. If you don’t see the success you expect, you must do something about it as quickly as possible. Coaches work with executives to find actionable and measurable strategies, so you can grow as you envision.
9. You're ignoring your health
Your lack of exercise and self-care is all but gone, and the gym staff doesn’t remember you anymore. And what about your nutrition? When we work too many hours in a day, we make very poor decisions on what to eat.
If you’re too jacked on sugar, caffeine, and fatty snacks, you’re not going to get the sleep you need to perform. If you’re like many others, you need someone to hold you accountable to take control of your health. You have to get back in the gym and get serious about your future on all levels. A healthy body and mind are the first steps to a healthy business.
How many hours of quality sleep are you getting? Compare that to the relative standard of seven. Get a watch that measures your sleep quality and pay attention. Stats show us that losing sleep for three nights in a row is equivalent to being intoxicated.
I’ve worked with so many leaders who wake up repeatedly throughout the night with thoughts of work. And it’s rarely the kind that brings a smile to your face. Are you one of these people? You need professional business coaching.
High-quality sleep is crucial for leaders, and often it comes from the confidence and understanding that your business systems operate as they should.
Meditation can help immensely to calm the mind and assist with focus. A good biofeedback device is best.
10. You're confused
OK, quick: What’s the next move? If you don’t know, what kind of leader are you? I’m sorry to say you’d be ineffective.
When clients first come to me, their attention is here, there, and everywhere. Good business coaches will help you sort out what’s going on inside your head and help you gain clarity. From there, we can work together to create and launch a plan for the most urgent and essential items. Knowing that next step is crucial. Coaching sets up an easy-to-use structure and system to ensure the most important things never fall through the cracks. Remember, without clarity you have nothing. Can you afford to let this happen? You need professional business coaching.
Bonus: You forget what your partner, kids, and dog look like
You should never find yourself sacrificing the most important things in life when growing your business. Even the most successful leaders should schedule and keep a date with their partner or make time to support their child in a soccer game. Whether you’re working toward financial independence or a mission that will change the world — or both — a business coach can help you achieve all that and more. Your business may be a huge part of your life, but it shouldn’t demand all of your attention. You need to keep a work-life balance to succeed in your professional and personal life.
You Need professional business coaching TO GAIN CLARITY
If any of these statements apply to you, you’re not alone. I’ve worked with countless top professionals who learn, through self-assessment, that their leadership and business are at greater risk than they may have otherwise realized. You may only relate to a few of these concerns, but even one can divert your path from the success you deserve. If you recognize problems and don’t know what to do about them, don’t hesitate to reach out for support.
Good coaches will assist you with getting incredible clarity on all aspects of your leadership and business. If you don’t have clarity, you have nothing. Acceptable? You decide!
Consider working directly with a seasoned business coach. Good coaches will assist you in all aspects of your business and personal life, so you can relax in the knowledge that your systems are working toward your success. You’ll be able to remember what inspired you in the first place — and use that inspiration to create a strategic, effective, and rewarding plan. You can work on a timeline for balancing your goals in a way that brings about the ultimate level of growth.
To better understand the process of professional business coaching, schedule a free 30-minute discovery call with an executive and business coach. We’ll help you understand the challenges you face with structured, personalized expertise. You can get right to the point and then get ahead.
Are you still wondering if you need professional business coaching? Log on to Champion PSI today to become the type of leader you’ve always wanted to be.