In an exclusive interaction with SupportBiz, Jain, presently the CEO of Business Coaching India, shared some insights into business coaching and how he engages with entrepreneurs.
What are the major operational challenges that entrepreneurs from the SME segment are facing?
In a typical SME, entrepreneurs constantly keep themselves busy in day-to-day functional activities. Sales, finance, purchases, HR, legal issues, accounts, employee engagement and customer and investor relations are some of the key tasks that the entrepreneur has to undertake in the course of running his/her firm. In most cases, it so happens that the entrepreneur performs his/her job of running the firm, but ignores his/her main role of choosing the right direction for the company.
In the course of my my work experience, I have found many entrepreneurs who are not satisfied with the way their businesses are running, even after attaining considerable growth. This state of mind has two simple reasons: Firstly, the entrepreneur does not have clarity on how he/she will be able to utilize the growth of his business, and, secondly, he/she tends to lose control of the overall business direction.
What is the significance of business coaching to an entrepreneur?
Coaching could be extremely useful in resolving any problems that an entrepreneur might be facing. That said, the willingness to resolve the problem and interest has to come from the entrepreneur himself/herself.
Coaching is quickly becoming one of the leading tools that successful people use to live extraordinary lives. Although a coach might recommend several things for the positive growth of business, unless and until these recommendations are actually implemented and monitored properly, there will be no real impact of this exercise.
How do you undertake the nurturing of growth among entrepreneurs, as a business coach?
We are constantly engaged with the entrepreneurs who consult with us. We have several modules for engagement. For example, we conduct weekly coaching sessions, working with the entrepreneurs and helping them identify the status of their problem and that of their business. We help in understanding the actual needs of the entrepreneurs. Accordingly, we prepare an unbiased, impartial, professional report on the business and life of the entrepreneur.
Our main objective is to remove the business owner from routine day-to-day activities, and align him/her with what he/she really wants. In order to achieve these goals, we help them with a concrete roadmap.
What is the delivery model that you use for providing coaching services to business owners?
We offer a step-by-step program. Firstly, the business coach starts spending two to three hours every week with the business owner. During such sessions, we discuss the specific components of the respective business, and identify existing challenges or problems. Accordingly, we prepare some recommended actions which need to be taken by the entrepreneurs. Every week, this roadmap helps the entrepreneurs achieve the pre-determined results and much more.
We analyse and document all the aspects of the business in an up-to-date manner. This analysis often offers some interesting insights about the present state of the entrepreneur’s business. Sometimes, the entrepreneurs themselves are surprised on seeing our outline of the existing status of his/her business.
During the second step, we clearly identify the business as well as personal goals of the entrepreneur. Advancing to the next level, we set up goals to help the entrepreneur reach where he/she wants to take his business. Then, we also provide coaching to help the entrepreneur overcome any blocks or hurdles, which would keep him/her from performing the best.
What are the key deliverables, from the coach and the entrepreneur’s side?
The coach is responsible for providing complete guidance, direction and program materials. The coach’s role is an advisory one.
The entrepreneur is primarily accountable for producing results in the program and implementation of the recommended roadmap. With the help of the business coach, entrepreneurs not only get solutions to the challenges they are facing, but also learn how to deal with them in future.