Taking a step back to review your business performance and make sure your strategy and priorities reflect your business goals will undoubtedly pay dividends in both the short and long-term. It may also give you the opportunity to look back on your successes and incorporate those learnings into growing your business even more!
If you’ve made the decision to invest in an executive coach, the next step is choosing one. So how do you do it? Where do you look? And how can you guarantee you’ll find the right person for you?
In a recent article we explored what Vistage chairs actually do; the coaching and mentoring they deliver to businesses and what they receive in return. In this article, we look more closely at how executive coaching by Vistage chairs could benefit you and your business - and help you decide if you need an executive coach.
An executive coach helps business owners, CEOs and high-level or high-potential employees become better leaders, make better decisions and achieve better results.
It’s common to confuse a coach with a consultant, but they’re very different. Consultants are like doctors. They diagnose problems, prescribe solutions and sometimes execute the solution themselves.
If you are growing a business with the intention of selling, then you are in the right place.
The first article in this series discussed how to get the foundations right.
Now, we consider how to prepare a growth plan that transforms your business into an asset that’s attractive to investors.
- You might also like: How to write a growth plan like a scale-up business.
Vistage speaker Balaji Krishnamurthy sometimes describes growing a business as a task that requires ‘hard’ and ‘soft’ work.
So what does this mean? Hard tasks are those you generally associated with growing a business – managing finances, setting the right organisational structure and introducing the right processes or systems.
The soft tasks are the more human, intuitive challenges – creating a strong brand, defining the company culture and looking after the wellbeing of your people.
The American poet, Bill Copeland, once said, ‘The trouble with not having a goal is that you can spend your life running up and down the field and never score’. Needless to say, he wasn’t talking about football.
Defined as a business with an average annualised return of at least 20% in the last three years - and with a minimum of 10 employees at the start of the period - scaleup businesses are those that demonstrate amazing levels of growth. According to the ScaleUp Institute’s Annual Scaleup Review 2018, the UK is now home to around 35,000 such businesses, contributing hugely to its economic growth and productivity.
Every day, people upload 4 million hours of content to YouTube, bloggers, businesses and brands publish 2 million blog posts, and the chattering masses fire out over six hundred fifty-six million tweets. The internet is a busy place.
Physical fatigue is easy to spot. You feel it in your bones, you see it in the mirror. Your body aches, you’re exhausted, and you just want to stop and lie down. Other types of fatigue are less easy to detect but can be just as debilitating - and these include decision fatigue.