Business Sense: 7 Ways To Sharpen
Your Ax
As businesses begin to move in the “new
normal” which is being defined as we emerge from the deepest
recession that most of us have lived through, competition will
be fierce and innovation will be rewarded. There’s no better
time than the present to prepare by making sure your employees,
systems and strategies are on the cutting edge. More and more
enterprises, from small businesses to Fortune 500 companies are
putting a priority on the input of a business coach.
Abraham Lincoln quipped, “If I had
8 hours to chop down a tree, I would spend 6 hours sharpening
my ax.” Working with a business coach sharpens your ax for
the task at hand. A study on the impact of executive coaching
by Manchester Inc. showed an average return on investment of 5.7
times the initial investment according to executives who estimated
the monetary value of the results achieved through coaching. Among
the benefits to the companies that provided coaching:
• Productivity (reported by 53% of
executives)
• Organizational strength (48%)
• Customer service (39%)
• Reducing customer complaints (34%)
• Retaining executives who received coaching (32%)
• Cost reductions (23%)
• Bottom-line profitability (22%)
So what’s in it for you? A winning sports team wouldn’t
even consider proceeding without a team of specialized coaches,
and most team members supplement that by training with a personal
coach. High performance in business demands the same attention
to strategy and mastery.
Here’s seven
ways that time and money invested with a coach will position you
on the cutting edge of your field:
Clear Insight: A scotoma
is a blind spot in the field of vision and we can all be afflicted
with them. Leaders are known for strong focus. Strong gifting
can also blind you to your weak spots and that’s where a
fresh pair of eyes can be invaluable.
Synergy: The whole is more than the sum of its
parts and two heads are better than one. “Team brain”,
distinctly different than a committee, is much more likely to
produce “out-of-the box” solutions.
Accountability: There’s no doubt that measurable
progress is a high priority when meeting deadlines that have been
mutually agreed upon by coach and client.
Fine Tuning: It’s often easier to become
1% better in a multitude of tasks than 100% better at one thing.
Sometimes, the difference in success and mediocrity is in the
details.
Encouragement: Human nature dictates that you
are far more likely to beat yourself up over your minor mistakes
than celebrate your small victories. Everyone needs to be reminded
of what they’re doing right. A coach specializes in encouragement.
Pest Control: In the Rainforest Business Model
for Success, we refer to time-stealers as pests and pathogens.
Good housekeeping in your business necessitates a clean sweep
– a coach is trained to spot the bugs.
Getting Serious: You value that which has cost
you something. When you hire a coach, you pay attention because
it’s you’re paying for their input and expertise .
What you spend your money on speaks loudly about your priorities.
You are the most valuable commodity in your company. Does your
investment in yourself reflect that?
In lean times, expenditures are scrutinized and prioritized. If
you haven’t worked with a coach in the last year, I would
wager to say it has cost you something. There’s a proverb
that was penned thousands of years ago that’s as true today
as when it was written; “Form your purpose by asking for
counsel, then carry it out using all the help you can get”.
Email meetings@lifepointspeaker.com to schedule a free initial
consultation.
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