Tag Archives: managing growth

Are you in the coaching minefield?

LI post header coaching 040215 1

At this time of year, I meet many Directors and business owners who are actively thinking of hiring a professional business ‘coach’.

Yet, almost all of them ask me the same question:

“How do I find a good one?”.

It’s a potential minefield! It’s a very fair, and not easily answered question! But here goes anyway…

The challenges are that ‘coaching’ has become a rather trendy word, and the vast majority of people who call themselvesRising profits ‘coaches’ actually have no idea what coaching is, and, more worryingly, have no professional coaching qualifications at all.

So here is how I would go about it as a first few steps, although I would emphasise I have been involved in coaching for around 12 years, and completed my professional qualifications all the way back in 2004.

Remember, your coach will have a significant impact on you and your business, so make sure you put in the time and effort to choose the right one!

 

Understanding

Firstly, I would ask any potential coach candidate to clearly identify the differences between coaching, mentoring, training, teaching and telling – there are distinct, and important differences. Any professional coach should easily be able to do this ‘off the cuff’. If you’re unsure what their answers should include, ask me!

 

Practices

How do they work with a client? Do they want you to follow a ‘system’ they have developed or use (more common with newly qualified coaches who are building their experience portfolio, those who are unqualified or franchised ‘coaches’ (who, in my opinion, you;re best avoiding))?

Or will they give you exactly what you and your business need?

From the experience of clients who have come to me after working with the former, I would certainly recommend you avoid any coach who tries to get you to follow a prescribed ‘system’ as it essentially assumes the needs of you and your business are just the same as every other business….and, I can almost guarantee, they won’t be!

Working with a coach who gives you exactly what you want will deliver the best results, and provide the best value for you.

 

Profile

Next, I would recommend you have a detailed rummage around their LinkedIn profile:

Are they a genuinely professionally qualified, experienced coach, or are they someone who has ‘been on a course’, or left their previous employment and decided to ‘set themselves up’ as a ‘coach’?

Do they use their coaching skills with other useful skillsets (e.g.: mentoring)?

Do they have coaching experience relevant to you and your needs?

Their profile should, at the very least, help you to answer this.

 

Qualifications

Then, look at their professional coaching qualifications.

Are they genuinely qualified?

If so, which body were they obtained from?

Warning! There are many, many ‘coaching courses’ out there that provide coaching skills training of a, being as diplomatic as I can, highly variable quality!

Certainly, many of these are not of the standard you should reasonably expect in a professional coach.

I would firmly recommend that you ascertain their coaching skills qualifications are from a UK university or a recognised, professional UK institute (e.g.: the CIPD or similar). These qualifications usually take 1 to 2 years to complete, let alone the professional development that follows.

It is simply not possible to become a professionally competent coach after attending a weekend course!

Probably only 10%-20% of ‘coaches’ are genuinely qualified, around 80% of which are women.

 

So, you have checked out a bit about their understanding of coaching, their willingness to ‘publish’ their coaching experience and expertise, and that they are properly qualified. What next?

 

Reputation

What about their reputation?

Ask your network as it probably has far greater reach than you realise.

How well known is your prospective candidate among your peers?

What is their track record, and who can you find who would recommend them?

Who has actually worked with them and what were the outcomes?

 

Relationship

Can you work with them openly and productively?

Spend some time with them to find out. Ask any questions you have and consider their answers carefully.

Remember that a coach may well be helping you to explore areas that are challenging to say the least, so trust is essential.

 

Cost

What you pay for genuine professionals is built on the same principle the world over: you get what you pay for!

If you come across a ‘coach’ whose charges seem surprisingly low, beware!

Typically, a professionally qualified, experienced business coach will charge about the same as an accountant.

 

So there you are. Just a few thoughts from me which will hopefully help you avoid some of the pitfalls and risks from choosing the wrong coach.

 

To find out more about how I work with business executives, leaders and owners to maximise their potential and success, and the benefits of professional executive coaching and mentoring, particularly in developing leadership, strategy and growing a business, please contact me:

t: 01242-672440

e: click here

© Adrian Malpass 2015-17. All rights reserved.

Recruiting a leader? Look at their emotional intelligence!

What goes through your mind when you hear the term ’emotional intelligence’?

Unfortunately, it has become a rather ‘trendy’ term, and there is a vast amount of poor quality information about it.

In a previous article in this newsletter, I explained what Ei is and some of its benefits.

The good news is it can also be used constructively in the recruitment process, especially for roles where there is leadership responsibility..

Importantly, in tests those with lower Ei but good IQ and experience ‘failed’ to succeed in the leadership roles they had been selected for as much as 25% of the time. However, those with higher Ei and high IQ or very relevant experience only ‘failed’ 3% to 4% of the time – some 80%+ less than without Ei assessment. Interestingly, this data has been repeated in many countries almost identically.

That’s quite a difference isn’t it?

Yet, Ei is something we all have and something that we can all develop almost endlessly.

But what makes Ei such differentiator in this scenario?

Well, the key is quite simple – experience and IQ give an indication of how an applicant can apply themselves in certain situations, but neither give a detailed, measurable assessment of their ‘human’ side.

Of all of the great leaders you have met, what was the main quality that made them memorable? Was it what they were doing, or was it more about them as another member of the human species?

Chances are, it was mostly about the latter, and this is where Ei measurements can helptoidentify how they will be as leaders. – by assessing balance between how they think, what they feel, and how they influence their behaviour.

Obviously, Ei is not a ‘cure all’, but as the data above shows, it can make a significant difference to the success of your recruitment.

(Source: Claudio Fernández-Aráoz, author of ‘Great People Decisions’ (publ: Wiley, 2007))

(based on the Ei Model developed by JCA Global Limited, and the book “Emotional Intelligence @Work” by Jolyon Maddocks)

To find out more about Ei, Ei profiling, or developing any aspect of Ei and its uses in executive coaching and mentoring, please get in touch – I’m here to help.

t: 01242-672440

e: click here

© Adrian Malpass 2013-17. All rights reserved.

 

Business Alphabet: C is for…Cashflow

(from my b³ newsletter August 2013)

Understanding and managing your cashflow well are likely to be some of the most valuable, yet simplest business management activities you undertake.

Cashflow, contrary to popular belief, is easy to understand: it’s simply the change to the business’s cash in the bank, up or down, after your customers have paid you and you have paid your suppliers.

Obviously, the best position is that it goes up every month.

However, this is not always the case, and so forecasting your cashflow, by keeping a close eye on when your customers are going to pay you and when you will be paying your suppliers, will help you to identify when there will be more cash is available to the business and when there may be less.

You can simply adjust your business spending accordingly.

Needless to say, understanding such simple things, and managing it carefully, can have a hugely positive impact on the chances of business survival and success.

So give it a go (if you’re not doing it already) – you may well be surprised what it tells you about your business!

To find out more about how I work with business executives, leaders and owners to maximise their potential and success, and the benefits of professional executive coaching and mentoring, particularly in developing leadership, strategy and growing a business, please contact me:

t: 01242-672440

e: click here

© Adrian Malpass 2013-2017. All rights reserved.

Business Alphabet: B is for…Business Skills – the 80% ‘Rule’

(from my b³ newsletter July 2013)

What do you think is the main cause of business closures in the UK?

Available data (ONS etc) shows that there are two main consistent causes for the vast majority of business closures: poor leadership and business management!

That’s right, around 80% of business closures year in, year out have poor leadership and business management at their root. Also, around 80% of business owners say they can run a business, and approximately 80% of business owners never develop their business skills.

What is even more interesting is that 4 out of 5 new businesses who regularly use a professional business coach or mentor will successfully reach their fifth birthday, yet 4 out of 5 of those that don’t, won’t.

(Here’s a great #BizTip too: please make sure your business coach is properly qualified as over 80% of ‘coaches’ are not).

To find out more about how I work with business executives, leaders and owners to maximise their potential and success, and the benefits of professional executive coaching and mentoring, particularly in developing leadership, strategy and growing a business, please contact me:

t: 01242-672440

e: click here

© Adrian Malpass 2014-2017. All rights reserved.