Would you benefit from a Business Coach?

Companies are operating with less staff and under extreme pressure to produce results. Working harder with the same old approach is not the answer. The importance of management making good business decisions cannot be overemphasized. Most successful leaders surround themselves with great talent. For many, a business coach provides that talent.

A survey by the Alta Mesa Group titled The Establishment of Executive Coaching, found that the most frequent reason for hiring executive coaches is to boost performance of high potential leaders. 93% of survey respondents who had worked with a coach considered the experience a success. Managers who can’t justify taking time to attend leadership development courses can schedule one on one coaching sessions around other commitments.

Investing in a business coach can pay huge dividends and is a cost effective way to increase the bottom line, work smarter and achieve a work-life balance. It provides access to additional knowledge and expertise and combines the strengths of both parties. Looking at things differently and accepting input from someone outside your area of expertise is often difficult but rewarding. To be effective there must be give and take from both entities. They must agree upon a unified approach, develop a plan of action and evaluate results. Coaching provides “as needed” brainstorming, accountability, encouragement and support. It results in improved methods, systems and procedures related to daily business activities.

Before you invest in a Business Coach ask yourself the following questions.

ü Am I in control of my business or is my business in control of me?

ü Have I been working smart rather than hard?

ü Is my business regularly reviewed to determine its direction?

ü Do I have an effective strategy for maximizing business?

ü Are issues that weaken my business being addressed or avoided?

ü Am I taking advantage of all opportunities to increase market share?

ü Are problems minimizing my ability to focus on running my business?

ü Do employees really understand my goals and expectations?

ü Do they contribute all they can to the bottom line?

If you answered “NO” to many or all of these questions, then you should benefit from coaching.

Here are a few questions to ask when choosing the “right” coach for your particular needs.

ü What is your coaching style?

ü Do you conduct sessions in person, by phone or email?

ü What is your availability?

ü How long are sessions and how much do they cost?

ü Have you experienced business/organizational issues similar to my situation?

Keep in mind that chemistry is a crucial component when selecting a business coach so make sure you and your coach are a good fit.

Remember, a decision maker who resists change never grows and probably will not survive the current economic crisis! Are you ready to jump start your business? Now may be the time to consider a business coach.

Layoffs vs Retention ... Make the Right Choice

Let’s face it, revenues are down and predictions about the immediate future are bleak.  Panic has set in and decision makers are frantically searching for ways to cut costs.

The most common method of lowering overhead is workforce reduction. No one’s job is safe right now and layoffs are a daily occurrence. This is not an easy time to be a manager as no one enjoys cutting jobs. But you need to reduce payroll by a certain percentage just to weather the current economic storm. It is better to lay off a few than have everyone lose their job when the company fails.

Unfortunately, decisions about which employee (s) to eliminate are not always made using the best business sense. Under performers are often being retained, while productive workers are let go.  Personality and length of employment are important, but decisions should first be based upon how each worker impacts the bottom line…… now and in the future. So who do you retain and who do you let go?

It’s crucial to know that when cuts must be made, you have kept the best talent. Be fair but make the right choice. These difficult decisions should not just be based upon popularity or longevity alone. Companies need to identify and retain the most productive and biggest contributors to the company’s success.

Employees who are not laid off are often asked to pick up the slack and as a result will often start looking for a new job.

The unbiased perspective of a seasoned human capital consultant is the best means to effectively and efficiently evaluate current staff and make the correct recommendations to management.

This may be your last chance to keep your company afloat. You can’t afford to make the wrong choice.  The survival of your company is at stake!