How To Use An Executive Coach? Business | Executive Coach

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How To Use An Executive Coach? Business | Executive Coach

See 1 of 100 New Videos on this topic & more.

In fact, our research specifically proves 8 Critical Success Factors for small & medium-sized businesses.

Visit www.BestBusinessCoach.ca for more info.

Or https://www.members.bestbusinesscoach.ca/success-research/ for more on the research behind it.

Transcript:

This is a great question. I have answered similar questions before. Visit BestBusinessCoach.ca to see it and other answers. The way you want to use an executive coach is: First, identify what the real problem is. Then it depends on what you negotiate. Plus it depends on their role.

Are they going to help implement it? Are they going to share contacts and resources? Help you with strategy? What do you pay them for? What is your agreement for who is doing what? It's the important part of this question. "How to use an executive coach?" What is available to you from them? That is the first part of it.

Once you know what is available, you want to work with them on the problem. Focus on solving the problem. Not just opinions about the problem. But using an evidence-based approach. To identify the problem & have better results.

Last year my team and I hired 7 research teams. They went through all the scientific literature to discover: "What are the Critical success factors for small and medium-sized businesses?" We came up with 8 science-based factors.

1. Self-efficacy. Self-Efficacy is not only about leadership, It's about the staff / the team you are running.

2. Strategic planning. 3. Market intelligence. 4. Marketing Strategy. 5. Sales Strategy and Skills. 6. Money Management. 7. Business Operations. 8. Business Intelligence.

You can find more information on those categories at: www.BestBusinessCoach.ca.

Want to have figure out what's holding you back? There is a book called "The Goal". It's a great book. It talks about the theory of constraints. Which says: Focus on the bottlenecks. The bottlenecks are your key leverage points. Focusing on anything other than a bottleneck is a reduced ROI. For your time, money, energy, and effort put in.

How do you use an executive coach? First, you have to be clear on what you need them for. Negotiate with them on what they will give you or give you access to. Then point them the direction of your bottlenecks they can help you with. Then you want to try to set up goals. Which are smart goals: Specific, Measurable, Ambitious, Realistic, and Time-Bound [Deadline].

Once you set up smart goals, be okay with progress, not perfection. We live in an imperfect world. Making progress is better than expecting perfection.

You will get way more done and be more productive. How do you use an executive coach? You have to be clear on what you want them for. Be clear on the terms of your relationship. Empower them. Get their opinion. Invest in them and trust them. Even if you don't agree. You have hired them because they know something you don't. It can be tough to articulate some things. But you have to trust them. If you are not sure, you should set up boundaries around it. Telling them you are not comfortable with the solution. But try it for a set time period. Or test it on the next 10 customers.

Set up a test if you can. Be scientific. And just go at it. All the best and love for you. If you have any questions. Or you want more information. Or if you want to work with me, Go to BestBusinessCoach.CA.

367 episodes