Dr. Rajesh Mohan Rai
How an Executive Coach Can help Boost Revenue?
Coaching ensures that the potential for growth does not go unrealized — John Mattone
Executive coach can support a business leader identify the gaps in skills and behaviours to be developed, key strengths, and strategies for improvement. Executive Coaching can focus on achieving goals within a Business leader’s current job or a likely future assignment or explore a completely unchartered territory. Leaders exhibiting derailing behaviours can benefit from coaching to improve performance.
I have been a strong Proponent of Executive coaching for Business leaders/ CEOs, and as ingrained in my DNA by my Guru John Mattone, the investment is not in Executive Coaching but for the improved business results which could be improved revenue numbers, better engagement levels, low attrition, etc. All or any of these would impact the business results positively.
An Executive Coach supports the business leader/ CEO in more than one way to improve the business results with his/ her experience and encouragement.
An Executive Coach, helps the business leader/ CEO put the purpose and goals at the forefront, and helps and supports regularly remind them that why one is doing what one is doing.
An Executive Coach can offer great insights and help a business leader/ CEO develop smart habits and best practices which have so far been eluding the leader/ CEO so that the business can succeed with improved business results including improved top line/ bottom line while the business leader gets to engage as a thought leader in the industry or on the subject of his/ her expertise.
Emotional intelligence of the Business leader/ CEO can be the single biggest differentiator between a business that is successful and one that is not. Emotional Intelligence differentiates good from the great. Outstanding quality of the products and services does not matter neither does the track record of the business leader/ CEO. Emotional Intelligence is a skill which supports the leader/ CEO to guide the interactions with stakeholders that helps their interactions glide effortlessly. Emotional Intelligence when used effectively by the leaders/ CEO, makes the teams in the organization start taking actions, gets people to the point of action swiftly, without persistent doubts or questions. Business Leader/ CEO with strong emotional intelligence know how to get the best results from others, and also how to ensure the experience is positive and builds momentum. Engaging an executive coach for the express purpose of developing Emotional Intelligence and emotional regulation can be one of the wisest investment a business leader/ CEO can ever make. This results in higher engagement levels with employees/ stakeholders further resulting into better business results.
The most common advice an Executive Coach coach gives to a business leader/ CEO is that don’t lose sight of the importance of accountability in making the business succeed. The coach is frequently called upon to support the business leaders/ CEO in understanding how to get into the habit of self-accountability, and how to insist upon accountability from all stakeholders and key team members including leadership team.
Accountability isn’t about constricting the scope. It’s about doing what was said will be done and it is done within agreed timelines. It is building a stronger foundation for the business to grow as mentioned in the goal and vision, as faster and as smoother. The leader/ CEO has to take the lead and establish the culture of taking accountability. This again has positive impact on the business results.
The least talked about benefit of engaging an Executive Coach for a business leader/ CEO is the networking opportunities the Coach may provide/ open up for the Business Leader/ CEO. Often this value addition by the Executive coach is grossly ignored. The networking opportunities created by the Executive coach can help the business leader/ CEO meet other Business leaders/ CEO and explore the possibilities of collaboration and expansion of business on both sides.
Engage an Executive Coach today, if you are serious about improving your business results. However, do the due diligence before you engage one.