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Business Coaching

What is Business Coaching? 

Business Coaching is a professional coaching practice. It is similar to the sports coaching in a sense that a seasoned sports player of a particular game only can coach that game. For example, a seasoned cricket player only can coach a team of cricket players. Only a great swimmer can teach the sport of swimming. The same is the case with Business Coaching. Only a seasoned and sufficiently qualified corporate player and practitioner can coach the game of business. He need not be an entrepreneur but yes he must know the spirit of entrepreneurship. Therefore, the first thing is that he has the domain knowledge of business. Secondly, he should have the ability to disseminate that knowledge to the seekers of that knowledge, that is, those who wish to become Business Owners and Business Managers. Thirdly, he should be sportive. He should be neutral and without any prejudice. He should be unbiased. He should not carry any fixed beliefs and should rather be able to change wrong beliefs. You know, some times wrong beliefs hold us in taking ourselves to the next step. He should have a natural flair to spot a unique skill and talent in the Coachee and the Business Owner. These three are the most important qualities that go a long way in making us a Better Business Coach. First is the knowledge of business. Second is the ability to express and share that knowledge. Third is the sportsmanship. This is a key thing. This is the most important and unique thing. Many people are very knowledgeable but they can not express and share that knowledge. Expression, Communication, Coaching is really an art and surely it can be learnt. This is where Business Coaching and Business Communication become very relevant to the game of Business. Business Coaching is more like an art and not like a science. Let us recapitulate: 
  • The first thing is Seeking. Seeking is learning. It means learning continuously. Let us learn from the experts and masters. 
  • The next thing is Searching - inside and outside. It is searching for new answers, new ideas and new solutions. 
  • The next thing is Sharing. It is sharing the learning. To impart the learning is sharing. 
  • The next thing is Speaking. Sharing and Speaking go hand in hand. Speaking is by way of ‘Words and Knowledge’ and Sharing is by way of ‘Wealth and Technology’. 
  • The last thing is being Sportive. In the whole process, remain sportive at the center of your being. The Business Coach is a help, he is a guide. He is just a facilitator. He is more like a mentor. He is just a catalyst and a change agent. 

Who is a Business Coach? 

Business Coaching
Is the Business Coach a teacher? No, he is definitely not a teacher. A teacher is one who teaches and focuses only the first few benches of the class. A real teacher is one who has become a student again. He goes and reaches the last student in the class. A dean is one who reaches to the last student of the university otherwise he is only a don in the clothes of a dean. If you wish to listen to Warren Buffet just because he is a multi-billionaire and is one of the world’s most richest persons then you will miss his spirit because he was speaking, teaching, seeking, sharing and coaching the secrets of Business Success while he was much younger and was still not known yet as to what it means to be a millionaire and a billionaire. The Business Coach is a help and a guide. He is a facilitator. He motivates and inspires your team. He gives them challenges and helps them to move to the next level. He is more like a mentor. He is a catalyst and a change agent. 

What is a Business Coach? 

He is just a facilitator. He is a catalytic agent. He is just a help and a coach to turn around your business. He is an outsider. He is not a fault finder. He is not an auditor. To be frank with you, he is just a friend, philosopher, and a guide. 

Why a Business Coach? 

If an executive, manager and a Business Owner can learn and grow on his own then there is nothing like that. And obviously this learning curve is definitely going to be longer. And the strategy of any successful business organization is to shorten this learning curve. And this is where a Better Business Coaching can be indispensable. The Australian Institute of Management says that 70% of its member companies hire coaches for Business Coaching. 

Can the Business Owner become a Business Coach? 

Business Coaching
No, the Business Owner can not become the Business Coach for his own business. There is a huge psychological issue in this. He may coach other businesses with his experience and expertise. But he can not do this for his own business. If he does the same then the coachees will only hear what he is saying and they will not listen and implement them. There is huge difference between hearing and listening. It is just like how a father can not become a teacher to his own sons and daughters. When it comes to learning he has to send them to other teachers. In the ancient past the Kings used to send their sons and daughters to the Gurukuls of the sages far away from the kingdom. And the sages were sending their own sons and daughters to other sages for better learning. I think the father should remain and become a better father and a business owner should remain and become a Better Business Owner. The Business Owner is more like a father figure to his employees. He should empower his employees and reward the performing employees. We will discuss on the far deeper psychological aspect in a right platform. 

What are the traits of a Better Business Coach? 

He should have sound knowledge of business. He should have the knowledge and successful track record of managing, administering, executing, controlling and growing a business with the help of powerful teams. And he should have a natural flair to communicate these skills and secrets to those who are willing to learn, know and master. He should be a great listener. He should be like a sports coach in the game of business. 

What are the ingredients of a Successful Coaching Relationship? 

Only win-win relationships stay and sustain. Only this relationship works for longer. Only win-win relationship is enduring and blissful. Because it is based on trust and friendship. It is based on mutual benefit and mutual growth. Please never create win-lose and lose-win relationships. These will only increase the operating costs of an organization and later on cost cutting would become a great difficulty.

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Financial Accounting

Financial Accounting

A strong Financial Accounting System backed by a robust Financial Accounting Software is a backbone of every business. Let us explore >>

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Business Coaching

Business Coaching

Business Coaching helps a business grow from a Small Business to a Big Business. Let us explore the world of business coaching >>

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