Running a business is more than an uphill battle: you also have to endure steep slopes, arduous trenches, and winding roads. Companies have to face unprecedented situations with limited ability to adapt, especially in recent years with the pandemic and economic downturn in full swing. 

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But it’s not all doom and gloom, especially if you see that every crisis presents an opportunity. If companies harness their strengths and develop their potential, they can weather hardships and find success. As entrepreneurs and company executives, how do you equip yourselves with the crisis-solving skills you need while being caught up in the company’s daily operations? Business coaching might just be the answer.

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What is business coaching?

When a business is in crisis, its leaders need the right business coaching and support services to increase efficiency, productivity, and cost-saving methods. Coaches give advice on how to run your business better, including how to deal with operational issues, create a company culture, and set clear organizational goals. They can be of valuable support and help in the company’s journey to success.

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Similar to consulting, coaching helps business owners transform the business from where it currently is to where you desire it to be. A coach works to improve the client's leadership skills, which can be applied in other endeavors; on the other hand, a consultant focuses on using data-driven methods to solve specific problems and get results that can be quantified.

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What are the benefits of having a business coach?

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1. Exposure to new networking opportunities

Top business coaches can come from academic or professional backgrounds; they will have extensive industry experience and vast networks of like-minded professionals built up over the years.  Leverage your coach’s connections to learn from the best and connect with people  whose experiences can be beneficial to your business. 

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2. Challenges you to try something new

When faced with a crisis, many business owners will look to apply conventional solutions to avoid taking on more risks. These tried-and-true methods have worked for others, but they may not necessarily be the best way for your company to navigate an ongoing problem. A skilled business coach will encourage you to expand your boundaries and explore new, unconventional ideas; they will walk alongside you and give you the support you need.

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3. Inspires ideation & creativity

Two (or more) heads are better than one. Sometimes, you and your team might feel stuck when faced with obstacles, and this is where a business coach can help you overcome your mental roadblocks. A coach can’t provide specific business solutions, but as a person observing the company from a third-person point of view, a coach can give you insight and ideas that will spark your creativity. Strategic planning becomes easier when your creativity is in full gear!

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4. Holds you accountable for your goals

Setting goals to overcome crises is easy, but do you have what it takes to achieve them? When you work with a great business coach, you will. Coaches help keep corporate executives and managers on track with organizational goals by holding them to a high level of accountability, such as having regular check-ins. With more accountability, clients and teams are more likely to successfully execute big ideas and long-term strategies.

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5. Creates a safe space for trial-and-error

Trying out new business strategies costs time and money, and it is not a feasible option for every company — especially those in the midst of crises. A good business coach provides a safe place for their clients to come up with new business ideas and test new solutions (provided that the ideas are realistic!). Coaches will give their feedback and suggestions so that you can polish your ideas and turn them into concrete strategies.

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How can business coaching help your company weather a crisis?

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1. Identify the problem

The arrival of a crisis will unravel any long-standing issues that your company has not dealt with. Business coaching can help you identify your problems and provide you with support and guidance. Depending on the approach taken, coaches will spend time understanding the crisis to clarify the situation. During the coaching sessions, you will receive advice and suggestions on how to move forward. Following that, the coach will develop performance plans to track and review performance.

2. Align with your company’s vision 

Like a lighthouse in the dark, a company needs guidance to weather through a crisis. Leaders themselves might feel overwhelmed when they are busy dealing with the issues at hand, which makes them lose sight of the company’s vision. A business coach can help chart a process for aligning corporate values with the necessary solutions. From there, you will be able to develop a stronger vision for your company that will be fundamental for moving forward.

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3. Develop an action plan 

To quote The Art of War, “Maneuvering with an army is advantageous; with an undisciplined multitude, most dangerous”. Your company might have the required resources to overcome a crisis, but things will go haywire without proper planning. Having a business coach gives you an outside perspective to help you evaluate your current position and plan your next step forward. Just like a war strategist, a coach will guide you to make the right choices by working closely together. In doing so, you can develop an action plan that aligns with both your personal goals and company resources. 

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4. Provide support during implementation

With an action plan, you’re all set to go – but you may also face obstacles along the way. Business coaching acts as a guide map to steer clear of threats and pick the right route. A coach helps identify potential issues and suggests additional support to make sure that you can overcome the crisis at hand. Regular meetings ensure that the action plan is reviewed from time to time to see if it is working out or if a change is needed.

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5. Facilitate integration to build better teams

Your people are the foundation of your company's culture, which is why having a strong, cohesive team can help you better weather a crisis. An experienced coach can help a business build a highly effective and motivated team that can turn problems into opportunities. Coaching sessions provide a platform to facilitate discussions, resolve conflicts, and help both leaders and employees work better within the workplace. 

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Related read: It’s NOT A Match! 7 Tips For Choosing The Right Business Partner

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How do you pick the right business coach?

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1. Identify your specific needs

Ask yourself this: What are the specific problems faced by your company? Whether it is team dynamics, inefficient leadership, or management failures, you need to accurately pinpoint the issues that need tackling. You can then determine and align the coaching sessions with your goals: maybe you’re interested in a team session, or you specifically want a personal leadership coach. Either way, your solutions must be tailored to solve the problem. 

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2. Seek referrals from trusted sources

Every professional coach has unique tools and approaches to address your problems, but the ability to get along with your coach is equally important. If you’re looking to hire a coach to bring your company out of a crisis, you must trust that the coach is genuinely dedicated to help out you and your company – that is why finding a compatible personality is important! A coach can teach you about values like emotional intelligence, effective leadership, and resilience in a crisis. You can identify a good business coach the good, old-fashioned way: getting referrals from people you know.

3. Ensure they have strong ethics

You will be sharing personal and business information of a very private nature with your coach, so make sure that the shared information is protected by an ethical and discreet coach! When searching for a coach, remember to ask for references and take the time to check their credentials. You can also choose to include a non-disclosure agreement clause in the contract.

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4. A genuine coach will support your success

A coach is not only a guide through tough times, but they must also be willing to roll up their sleeves and work together with you. Before the interview session, ask about how they can contribute to the company. Instead of only highlighting their own accomplishments, your potential coach should have a brief plan to demonstrate commitment on how to solve the company's problem at the first meeting.

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Need a little help and support to get your business out of a crisis? I am here for you!

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Get in touch with me, and I can provide you with the tools and knowledge you need to overcome problems and grow your company. Using proven tools and methodologies such as Scaling Up, Mindvalley, Kolbe, CliftonStrengths, and many more, I can guide and support you along your business journey to attain your business goals. 

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