SME growth
WE need coaching to reach our maximum capabilities.
Small and medium size businesses are the backbone of all Pacific Island cultures – without them the economy would not survive or thrive. In this new series I look at different ways in which we can grow and develop our small businesses sustainably.
For the next couple of weeks my focus is on choosing and working with a business coach.
Running and growing a small business can be a lonely experience. Business owners may not have many people to talk to and may not know where to go for impartial advice. We all need someone to talk to but sometimes it is hard to know who. We may have well-meaning friends and relatives who want to help but who don’t have the knowledge or experience or they are driven by their own agendas. A business coach is someone who should be able to help in an objective and experienced manner.
We are all familiar with sports coaches and we understand what they do. We are less familiar when it comes to using a coach to help to grow our businesses and organisations.
Why we need coaches
Coaching can be defined as a professional relationship in which an experienced person (the coach) acts as a guide, sharing expertise and experience with a participant (the person being coached), to help them develop the skills, knowledge and behaviours they need to maximise their potential in their role.
We are all experts in something – our current role or organisation – but we do not always have the skills and experience to see the bigger picture. Our expertise can narrow and even limit the way we look at things, especially new ideas and opportunities.
On the other hand, the expertise and experience of an independent coach, who brings a fresh perspective, gives constructive feedback, and willingly shares what they know, can be invaluable and make the difference between going forward and standing still, or even going backwards.
Two heads are usually better than one!
Through focused conversations, coaches share their knowledge, skills and stories of their business experiences, help with problem solving and decision making, and provide moralsupport and encouragement. Most importantly, coaches help their clients to identify what is getting in the way of progress, and then guide them as they overcome those barriers.
The coach does not do things for the client, but they help the client do things for themselves. Coaching clients learn from their coaches and learn by doing new things, or doing things differently, encouraged and supported by the coach.
Sometimes the coach’s greatest value is simply as a wise sounding board, a friendly ear, and someone to share frustrations and annoyances with. At other times, technical know-how is what the client needs.
Coaches need to be good listeners, take an active interest in the person being coached and her/his business, encourage business owners to think and reflect, be good at asking open questions, be empathetic and above all be willing to deliver tough love.
Working with a business coach does not take the responsibility for making decisions away from you, the owner. A good coach may help you explore options and suggest things to think about, but they should not tell you what to do. The business is not theirs, it is yours! Every situation is different.
Not all experienced busness people make good coaches – just because someone is a good accountant or builder or restaurant owner does not make them necessarily a good coach – they may know how to run their business but not be good at helping others.
Working with the right coach can be a low-cost way of giving you the confidence to grow and develop your enterprise sustainably. In Vanuatu we are developing a team of trained and supported Ni-Vanuatu coaches who all have business and management experience and who are developing a number of competences based on international best practice.
Next week I’ll explore the relationship between coach and client further and look at how you might find one to work with. Other issues that I will be covering include:
■ Finding the right kind of business advice and joining a business support organisation
■ Understanding the help that might exist to support the development of your business
■ Managing growth and development in a sustainable manner
■ Choosing the right new products and new markets and understanding the business economy in which we are operating – this is especially important in this post COVID environment.
If you have any other suggestions or any questions or comments, please contact me on chris@breadfruitconsulting.com or hazel@breadfruitconsulting.com
Our expertise can narrow and even limit the way we look at things, especially new ideas and opportunities.
– Chris Elphick