Executive Coaching For Small Business Leaders
Monday, October 13th, 2014
Small businesses require a different style of handling to their larger counterparts – with fewer staff, smaller resources and less steps in the chain of command, being the leader of a small business comes with a set of challenges as well as advantages. Just like any business leadership position, sometimes executive coaching is the most effective way to ensure you are strong leadership figure – and with smaller margins and less to fall back on, this can make or break a small business. There are several different aspects that an executive coach can help you with, specially tailored for small business owners or leaders.
- Staff management. One of the main advantages of a small business leadership position is that you can often direct with all your employees directly – you don’t have to try to relay messages through a chain of command that might not always be efficient. By getting to know all your staff, you can keep an eye on what everyone’s doing at any time and more importantly develop a closer, more positive relationship. However this also means special skills are required to manage so many people at once, and these are what an executive coach for small business leaders can help with.
- Goals and planning. Even when they’re doing well, small businesses can often walk a thin line between success and failure. With less of a resource pool to fall back on or cushion any financial blows, as well as fewer contracts and stock, it’s essential that leaders are able to maximise every asset they have and create goals that are clear, realistic and achievable, and to be able to set plans in place that help the entire company move towards them.
- Team building and communication. With a smaller staff pool, creating a strong team feeling is essential. Creating a friendly and trusting environment helps staff feel secure and able to communicate with other employees across all management levels and job descriptions. It also encourages everyone to pull together to achieve collective goals. Communication is highly important, both with staff directly and ensuring communication constructs are in place so that staff always feel like they know who to talk to about certain issues.
As a small business leader, you need to be a strong figure to your staff and capable of managing people at both a personal and professional level. The quality of your leadership will directly influence the success of the business, so if you feel like you could improve in some areas, executive coaching may be a good step.