As defined by UK Business Mentoring, business coaching is the deliberate communication between an entrepreneur and a coach with the goal of taking the business to the next level. This thought-provoking method presupposes that the strategic business coach is there to help the entrepreneur create solutions and strategies to grow their business. On the other hand, the mentee should already know how to run the organization and is a domain knowledge expert.
Looking Back at Strategic Coaching
Management training programs in the 20th century were very widespread, and people participating in these programs were mainly managers of varying businesses. Back then, the programs were pre-set to suit all businesses. It gave little consideration to the specific needs of each client or industry. This one-size-fits-all approach proved to be more disadvantageous rather than beneficial to businesses.
In the 1990s, the requirement for custom mentoring for entrepreneurs started to surface. The situation has shifted from the general aim of improving the performance of poor performers to a tailor-fit method.
Today’s Coaching Trends
Coaching evolves together with the business world. New tactics change those that no longer produce intended results.
A few of the top trends in small business coaching include:
- Trend Watching: Given the demands of managing a company, they may not be able to keep up with the changing times. Mentees can get a strategic business coach to help them track trends and stay informed of any shifts in consumer behaviour.
- Direct Feedback: Being objective about the business is not easy. As an objective point-of-view, a strategic business can help their mentees see if their business is on track or not.
- Tools and Technology: Technology is quickly changing in the business world. To keep up with the changes, a strategic business coach can steer their mentees through the labyrinth of gadgets and gizmos to ensure that the business remains relevant.
With these new breakthroughs, entrepreneurs can achieve positive results that yield higher returns. Entrepreneurs should be aware of these trends to help their business succeed.