Coaching in business
Coaching in business and industry trends
Coaching in business: What is business coaching?
There is much information written about both coaching in business and the trends of this particular coaching niche within the industry. However, it is worth beginning by discussing and explaining what coaching in business is. and what it generally involves.
Coaching in business involves a relationship between a coach and a client who is an owner of an organisation. The coach may own a coaching business and offer freelance services to their clients, clients of business coaches will often be business owners.
The purpose of coaching in business is to move an organisation from it's current position to where the client/owner wants it to be.
Most Coaching in business is carried out to help the owner clarify what direction they want to take their organisation.
They will also jointly discuss with the client what objectives and strategies should be pursued to help the organisation achieve it's goal(s).
Coaching in business does not involve giving the owner direct instructions but instead supports the owner in moving towards their stated goal(s).
Business coaching trends
Some business coaching trends identified within the business coaching industry are as follows:
- Balance and energy: stress reduction, greater productivity and efficiency.
- Direct feedback.
- Technology trends and tools.
- strategic planning.
- Clear focus.
- Monitoring industry trends.
Coaching methods in business
Effective business coaching can involve various behavioural techniques to guide the organisation's owner towards reaching their agreed goal(s). Some of which are as follows:
- The Process Construct
- The Core Behavioural/Learning Change Construct
- Reinforcement
- A game plan sheet
However, there are a wide range of other coaching methods in business which coaches can use.
Coaching in business: Target Markets
Target markets will typically be sole entrepreneurs. It will also frequently involve start-up's and small-to-medium sized enterprises (SMEs). However, it can involve organisations of all sizes.
Understanding the problems that they can solve
Business coach's must understand the particular problems that they can solve for company owners.
Tips for business coach's in finding their niches within the business coaching industry.
If you have just begun your business coaching service you might not have identified your particular niche i.e. your target market.
Often it is best for coaches to choose target markets based upon their previous knowledge, skills and experience.
By targeting markets based upon their strengths, Business Coaches can specialise and offer a professional and effective business coaching service for their clients.
This will also help them to best serve the needs of a specific coaching niche within the market.
Coaches who have started up a number of small organisations may wish to focus/specialise in coaching for business start-up's and small organisations.
Individuals who previously worked within the corporate world, within large enterprises, may choose to focus upon the Executive Coaching market.
Demand for business coaching
The business coaching industry is demonstrating high demand within the USA and the UK.
Coaching for start-up's and small organisations is demonstrating particularly high demand within South Africa and Australia .
References:
(Coaching and Mentoring Network 2017. http://new.coachingnetwork.org.uk/information-portal/what-are-coaching-and-mentoring/)