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“I absolutely believe that people, unless coached, never reach their maximum capabilities”

Bob Nardelli, CEO Home Depot - Fortune Magazine, 07/01/2002

Google’s CEO, Eric Schmidt, once told Fortune magazine that the best business advice he ever received was to hire a coach.

Yes, You Need a Business Coach
Here’s why Google’s CEO and other entrepreneurs say hiring a coach was the best advice they ever received.

Written by Scott Duffy, Founder & CEO Content.Market

Google’s CEO, Eric Schmidt, once told Fortune magazine that the best business advice he ever received was to hire a coach. He shared, “I initially resented the advice, because after all, I was a CEO. I was pretty experienced. Why would I need a coach? Am I doing something wrong? My argument was, ‘How could a coach advise me if I’m the best person in the world at this?’ But that’s not what a coach does. The coach doesn’t have to play the sport as well as you do. They have to watch you and get you to be your best.”

Eric Schmidt isn’t alone in his initial thinking. Many entrepreneurs balk at the idea of hiring a coach, and some even find it downright insulting. As an entrepreneur, you’ve built your business and achieved success because you understand your industry. Of all people, why would you need a coach?

In reality, that’s the wrong way to think about a business coach. A coach isn’t necessarily better than you and doesn’t necessarily know more than you do about your industry. Instead, a coach is someone who brings out your best by providing counsel, support, feedback, and advice. As long as you have an open mind, you can benefit from working with a coach in a number of invaluable ways.

Gain perspective

The biggest reason to hire a coach is to gain a new perspective on ways to do business or accomplish certain goals. Think about the many times when you may have been only capable of looking at a problem from one angle. Sometimes, a coworker or even an intern can spot a solution by approaching the problem with a different perspective. It has nothing to do with someone being smarter; it’s just about looking at problems differently. Think of a business coach instead as a voice of reason or a support system as you map out your next business moves.

Boost accountability

Think about all the projects you’ve considered pursuing but never did. One of the reasons why may have been because no one else ever knew about those ideas and, therefore, there was never any pressure for you to make something of them. A business coach expects you to make progress toward accomplishing specific tasks. They can inspire you to push harder, work faster, and think bigger.

Remember, there are two paths to success: you can figure it out on your own through trial and error, wasting valuable time and money. Or you can find coaches, role models, and advisors who can guide you. It’s ultimately your call, but I think we both know which of the two options makes the most sense.

Link:

The Significance Of Business Coaching

The Significance Of Business Coaching
Business coaching is integral to the success of a company. Not every company can aim at a billion dollar initial public offering. Most companies would have a tough time during their startup phase and even after they have had a smooth sailing, untoward events and unforeseen challenges will apply the brakes on growth and profit. There are times when anyone needs a bit of a push, at times through motivation and at times through coaching. That is exactly what business coaching attempts to accomplish.

An entrepreneur, a manager or any employee is expected to be deft at a specific job or in a certain niche. It is quite unlikely for an entrepreneur to be the greatest coding mind in the world and also to be the best manager or coordinator or an outright efficient business administrator. An employee or manager may be amazingly effective at the job they do but they may lack skills when it comes to public relations or they may have certain shortcomings when it comes to farsighted planning and execution of various complicated modus operandi.

At times, it is the simple reality of pursuing a certain goal with the right conviction that entrepreneurs, managers, employees and small business owners struggle to attain.

Business coaching isn’t new. From the likes of Warren Buffet to Richard Branson, they have all endorsed it for years. All major companies, from IBM to Volkswagen, invest in business coaching and spend tens of thousands of dollars every year just to provide the fillip that their business managers need.
There is no reason why a small business owner shouldn’t invest in business coaching. It is more important for a small business owner because she or he is mostly alone, taking charge of more than one department and having no one to get some advice while taking a decision. Large companies have at least half a dozen brilliant minds working on a particular problem and then taking a collective decision. That luxury is nonexistent in a small business. Thus, it is through business coaching that a small business owner can hone her or his skills and become a better entrepreneur.

It doesn’t matter what one does. It could be sports or singing, acting or writing, sales or advertising, running a restaurant or operating a hedge fund, business coaching helps one and all.

10 year old C.E.O. Love it!

Folks.
I don’t often send out emails on Saturdays, but when I do, they are the most interesting.
Check this kid out. When I grow up, I want to be just like him!

Click link below:

http://www.cnn.com/video/data/2.0/video/us/2014/08/23/dnt-ky-kid-businessman.wpsd.html

Posted in Coaching|

Work “ON” it and not “IN” it.

Owning a business is one of the most challenging things we’ll ever do in our lives. It’s not easy, as the explosive failure rates constantly confirm the dangers of being an entrepreneur. Millions of dollars lost everyday, relationships torn apart and dreams destroyed on a daily basis. Scary, huh? If that’s the case, then why do entrepreneurs dive into business ownership at record speed?

Why? You know why.

Freedom, baby! Freedom! Ah, yes. There is nothing in the world that can compare with calling the shots and controlling your own destiny. No risk, no reward.

But here’s a question: Even when our businesses are a success, do we really have freedom? I ask that because in the midst of a successful entrepreneurial career, I realized that, for the most part, I didn’t have freedom — I had a job. (A great one at that, but still a job). If I wasn’t there working, the business wouldn’t have survived, never mind prospered. My business thereforeowned me. We are supposed to own the business, remember?

We all have different goals, and not everyone wants to be the next Google (I’d like to meet that person). Not everybody wants a billion dollar business (I’d like to meet that person too). But no matter how many entrepreneurs I meet, they all agree that “more time” is the indisputable goal right next to the goal of getting that fire engine-red Ferrari.

So that takes us to: Work ON your business, not IN it. Regardless of whether you want to conquer the world, build a business that can run with you or without you. Your business will grow. You will have freedom. You will have a true business.

And, hey, you just might get that fire engine-red Ferrari, too.

 Famous quote:
Someone’s sitting in the shade today because someone planted a tree a long time ago. 
Warren Buffet
Posted in Business| Tagged |

Giver’s Gain

“Givers gain!” It’s a plain and simple mantra. I don’t buy into the whole hokey-pokey karma voodoo thing. Okay, maybe just a bit. If you start to think about how you can truly help people — without the expectation of compensation — amazing things will happen. Trust me.
Don’t worry. I’m not holding auditions for the next Mother Theresa. I’m just asking you to help your fellow friend, local business or complete stranger in any way you can. Some of us get so wrapped up in our own lives that sometimes it’s hard to think about helping others. Especially in this economy, everybody appreciates a hand.
So that takes us to: Givers gain. Help out in any way you can. Try sending a referral to your favorite vendor without them having to ask for it. Remember: We are not expecting anything back, but experience proves that it will come back tenfold. (Hey, maybe I do buy into the whole karma thing).
Still not convinced? Maybe you’re thinking, “Well, if there’s nothing in it for me, why waste my time?” Fair question. If you’re really stuck on thinking about it in those terms, admit it: Won’t it make you feel you good, won’t it give you a little buzz, to do something nice for someone else? Making someone smile? Making their day a little easier?
And who knows, maybe that old lady you help cross the street is a vastly wealthy heiress who might you in her will. (Of course, I know the whole idea is to do a good deed without expectation of compensation, but, hey, we can dream a little, can’t we?)

Famous quote:

You can have everything in life that you want, if you will just help enough other people get what they want.

Zig Ziglar
Posted in Business| Tagged |

Learn from Salespeople

How many times have you heard this: “I hate salespeople”? Why do people say that? Because a few bad apples spoiled the whole damn bunch! Talk about stereotypes. I’m not sure about you, but I’m sure glad to have my health insurance, car insurance, life insurance and home insurance handled by someone who receives a commission on my premiums. Bam! If I need something, it gets done at record speed. Salespeople are motivated. What’s not to like about that?
Hey, maybe someone can work on revamping the Department of Motor Vehicles with salespeople. Can you imagine getting your driver’s license renewed without the torture of a five-hour wait? Set the salespeople loose!

I often hear people complain that salespeople are pesky and never let up. That’s not their fault, either. It’s people’s fault for not speaking their minds. Let’s face it: It’s hard for some folks to say no. So instead, they tell salespeople, “I will think about it” or “Let me check with my boss.” Do everyone a favor: If it’s a “no,” just say so. It will help you. Plus, the salesperson will be grateful you’re not wasting their time.

Salespeople can be a business’s best weapon. They can help you solve problems — just try asking them. They can probably see some glaring problems in your operation just from their experiences in your industry.

Love salespeople. Learn from them. They can be your best resource. Who knows your competitors better? And does anyone have a better gauge on your industry?

Treat salespeople with the utmost respect — and when they have the utmost respect for you, amazing things will happen in your business.
Famous quote:

Don’t sell. Solve! (Unknown)

Posted in Sales| Tagged , |

Your Business. Your Freedom.

Owning a business is one of the most challenging things we’ll ever do in our lives. It’s not easy, as the explosive failure rates constantly confirm the dangers of being an entrepreneur. Millions of dollars lost everyday, relationships torn apart and dreams destroyed on a daily basis. Scary, huh? If that’s the case, then why do entrepreneurs dive into business ownership at record speed?
Why? You know why.

Freedom, baby! Freedom! Ah, yes. There is nothing in the world that can compare with calling the shots and controlling your own destiny. No risk, no reward.

But here’s a question: Even when our businesses are a success, do we really have freedom? I ask that because in the midst of a successful entrepreneurial career, I realized that, for the most part, I didn’t have freedom — I had a job. (A great one at that, but still a job). If I wasn’t there working, the business wouldn’t have survived, never mind prospered. My business therefore owned me. We are supposed to own the business, remember?

We all have different goals, and not everyone wants to be the next Google (I’d like to meet that person). Not everybody wants a billion dollar business (I’d like to meet that person too). But no matter how many entrepreneurs I meet, they all agree that “more time” is the indisputable goal right next to the goal of getting that fire engine-red Ferrari.

So that takes us to: Work “ON” your business, not “IN” it. Regardless of whether you want to conquer the world, build a business that can run with you or without you. Your business will grow. You will have freedom. You will have a true business.

And, hey, you just might get that fire engine-red Ferrari, too.

Famous quote:
Someone’s sitting in the shade today because someone planted a tree a long time ago.
Warren Buffet

Posted in Business, Leadership| Tagged |

Under promise; Over deliver

I can do it faster, better, and cheaper than any of your other vendors! I’m available 24 hours a day, seven days a week, 366 days a year! You won’t find ANYBODY in town with better customer service. I’m selling this to you BELOW my cost. I don’t have to check with the warehouse — I can deliver it TOMORROW. I can get you the mortgage approved WEEKS before the close date.

Wow. If I wasn’t a seasoned entrepreneur, all those promises would sound like awesome deal-closers. However, experience proves that they are all deal-killers. Why? Because if you have to over-promise to get the client, then there’s probably somebody out there better equipped to handle their business. You know the saying: “If it sounds too good to be true …”

Try not to offer the sky. I know you need the business. But over-promising leads to a no-win situation: If you look desperate, well … you know how that works out. If you do get the business, it’s only a matter of time before you disappoint. Don’t dole out promises you can’t keep. In fact, here’s a crazy idea: Try the opposite. Deliver unexpected acts of customer service and you will be rewarded with the mother of all wishes: loyalty.

That takes us to: Under-promise and over-deliver. Make sure this mantra is part of your business practice. We’re expected to do what we say. We are not expected to go above and beyond. So, each and every time you do, you add a raving fan to your business. And the goal is to have a business that is full of raving fans and not just clients or customers, right?

Famous quote

Under promise; over deliver.

Tom Peters

Posted in Coaching| Tagged |