Indian statistics and figures about our economy indicates that India is a land of abundant opportunities and our current entrepreneurial scenario indicates that the mediocrity or failure of entrepreneurs to encash on available opportunities leads to the companies’ downfall.
A business coach can help them and play a very vital role to ensure their success. Running a business enterprise is about juggling with multiple challenges which can’t be overcome without having the right skills.
Then there is a sound coach that can help the entrepreneurs in several ways enclosed are few important aspects. They can assess your business as an external third party and give you honest inputs about the scope of improvements or about your key mistakes. Knowing about your weakness in itself is half the solution. They bring a mental shift and change your world view. They build your confidence and encourage you to take meaningful calculated risks.
Since they are independent and a specialist as a coach; they constantly read about or understand the contemporary changes happening in the markets and economy and share these insights to help you make effective decisions about your business. They transform you as a better manager or a leader which results in the team’s satisfaction and improves their productivity.
In times of crisis, at times entrepreneurs with weak EI tend to panic or make hasty decisions, this is where a good coach can settle their emotions and help them make thoughtful decisions. A coach with sound business expertise also has long term experience of working with different industries and entrepreneurs and they bring all that rich experience to you so that you can learn from other entrepreneurs and their industries. This cross-industry experience is often a very valuable asset and it can’t be gained by an entrepreneur because they are focused upon their own business and hardly get the time to go out and learn from others.
The end results that you may expect from an effective business coach include; improved growth, better profitability, lot of free time for yourselves so that you can strike the right balance in both; your personal as well as professional life, organized business operations that sets you free to focus on strategic aspects of business, strong and satisfied team, improved management and reporting, lot of new learnings, future growth plan would be ready, improved (data driven) decision making, your business would become internal very strong and would be ready for any external challenges.
(The author, Aslam Charania is a business coach, consultant and virtual CEO and Founder of Mastermind Training & Consultancy Services)
