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Introduction to Business Coaching

Business Coaching is a business support service industry aimed at helping owners plan, start, grow & even remove themselves from business. There are other facets of this industry such as Executive Coaching, Small Business Coaching & Self-Employment Coaching which deal with specific areas of business.

Fortune 500 companies use coaches for specific needs; such as: improving performance, or reducing the effects of job stress because it is more economical to "save or rebuild an employee" rather than hiring a replacement.

Process

In Business Coaching there is a process of inquiry, analysis, contemplation & resolution for the purposes of pruning the business and workers to the ultimate success team.

Often the coach will ask a series of questions, invite the clients to analyze the truth & pursue a course of action thought to be beneficial to the goals of the client. The client can accept the outcome, reject it, or negotiate a compromise.

A Business Coach will often take a multifaceted approach to helping a business improve. In some cases, a top-down approach is needed; such as when a CEO with control issues is hindering the success of the company. In other cases, a Business Coach will work from the bottom-up, working with each associate to better their own potential.

Industry

There are over 20,000 business coaches in the US today.

Business coaching does not always apply to all models of business. For instance, the "Franchise" model has systems that the franchiser requires and the Franchiser is involved in the training of the owner as well as their employees. However if their issues are interpersonal relationships with the employees they may need coaching around this issue. The entrepreneur then uses a personal coach skilled in communications, anger management, etc to shift the entrepreneur from these challenges to actions creating a greater business.

Business coaches work with their clients to guide them to excel in their business. The epitome of the business coaching is to marry the business expertise of the coach to the needs of the business.

Coaching is Distinct from Mentoring and Consulting

Business Coaching is not business mentoring. Mentoring involves a developmental relationship between a more experienced "mentor" and a less experienced partner, and typically involves sharing of advice. A business coach can act as a mentor given that he or she has adequate expertise and experience although a good business coach need not have specific business expertise and experience in the same field as the person receiving the coaching, to provide good business coaching. Mentoring refers to a developmental relationship between a more experienced mentor and a less experienced partner referred to as a mentoree (sometimes vernacularized into mentee) or protégé. // Historical The roots of the practice are lost in antiquity. ...

Business Coaching is not consulting. To further put business coaching in perspective, there is also business consulting which involves the provision of expert advice, usually on a one time basis and the plan is developed by the consultant after inquiry and given to the business. A business coach is not a consultant but when they determine that this service is needed they may ask the question: "Do you think it would be better to call in a consultant?" This is project oriented rather than process oriented. Management consulting (sometimes also called strategy consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the firms that specialize in this sort of consulting. ...