This month I joined my local Chamber of Commerce and the $275 was the best money I've spent thus far marketing my practice. Since my niche is "small business" coaching, I made it a point to get on the Small Business Development Committee to offer my services to local businesses gratis to help promote our networking in the community. In just three short weeks I've attended: a monthly luncheon, ribbon cutting ceremony, small business networking breakfast, new member breakfast, have signed up for a booth to introduce my executive coaching business to the Northwest Houston community. I now devote five hours a week networking with breakfast or lunches. I don't expect to win over any big clients. My goal is simple: to listen attentively to what other small business people are struggling with and what I might have to offer. To date I've got a potential client who recently sold his business in the U.K. and is looking to invest in small businesses in the U.S. He describes himself as a "Business Mentor."

 

Consulting vs. Coaching: I'm often asked the difference between consulting and coaching. Consulting to me is offering your client a "ready fix" on their business problems without regard for corporate culture or personalities. Consulting is largely short-term and negotiated by the CEO to fix a problem as perceived by the CEO or Board of Directors. Typically, a large, national firm is selected to come in to "audit" the books and quiz the staff on corporate goals, objectives, action steps, accountability structures, and results. Last year, millions of dollars were spent analyzing and re-analyzing business data to increase productivity.

 

Coaching on the other hand, is a long-term, more intense, but less frequent relationship where the coach becomes an accountability partner to his client, typically the CEO. The coach becomes much more than a consultant; he becomes the "alter ego" of the business executive, challenging him/her on their own core values and beliefs and how that fits with the organizational core beliefs and values. A business strategy is developed BEFORE a business plan. We talked about how to develop a business strategy last month using the www.planware.org website tools. Once the business strategy is selected, the CEO is given a series of personality assessments (e.g. Myers-Briggs, Signature Strengths) that outline his/her strengths and weaknesses. After about the sixth session, personal coaching might be in order, but the important difference is that your client determines the agenda, not the consultant. Thus coaching is more fluid and dynamic, deriving its energy from the client, not the consultant. The consultant becomes an accountability partner that helps the busy executive step back from the day to day operations and take a "meta view" from atop the organization. One metaphor I like to use is that of a helicopter hovering over your business; if you were the pilot, what would you see in your business? Instead of being caught up "in the clouds" one has to rise up "above the clouds" to get a clearer understanding of your reason for being in business besides survival and serving one's customers. Most successful businesses are built on "equity sweat" but survive on "passion." It is your coach's job to help you rekindle your passion for your job and to let others see that passion.

"Helpful Hints" is a monthly feature of The Executive Connection. In this section of our Newsletter, we will discuss accountability structures necessary to stay focused on your business plan and objectives.

 

"This Month's Helpful Hints"

1. Review a recent issue of "Fortune Small Business" and read the "inspire" department.
2. Visit your local Chamber of Commerce and plan to give your "elevator speech" to at least three people. Volunteer to give a small business seminar.
3. Get involved with your community. Volunteer to serve on fund-raising committees. Your visibility and name recognition will increase.