Top Tips for Business Coaching
Question: Which type of manufacturing companies might benefit from Business Coaching?
Answer: All types of companies, but it is particularly useful for SMEs, partnerships and sole traders which tend to need extra support at crucial times in their development.
There are many people and companies in the UK purporting to be business or executive coaching specialists. Some are accredited business advisors; others are experienced individuals from within a particular business sector. Irrespective of their background or credentials it is important before you part with you hard earned cash that you have a strategy in place to select the right coach/mentor for your business.
Aster Interim is a specialist interim management provider which provides business coaching and mentoring services to the manufacturing sector. Paul Wilson, Aster’s Managing Director identifies what you should be looking for in your chosen business advisor:-
- Accreditation – Is the individual or the company they represent formally recognised by a trade body or bound by a code of practise?
- Relevant Experience – make sure your potential coach has experience of either your business sector or the type of issues your business faces now or in the future.
- Take up References – too many companies ask for references but never take them up. A reputable business coach should be able to give you a list of several companies with whom they have worked.
- Understand the Costs – tie in tangible objectives to the coaching schedule.
- Review Periods – the whole point of employing a business coach is for them to add value to your business. Make sure you build in formal structured reviews with your coach to ensure you are getting value for money.
- Recognise the end point – Coaching assignments come to an end, both parties should be able to recognise a natural end point.
In summary, employing a business coach can be an extremely beneficial to a manufacturing business. However, in order to get the most benefit from the arrangement take time to select the right coach, identify the key goals and objectives and recognise the end point.