By Nick Strain, CFP®, CPWA®, AIF®, Senior Wealth Advisor at Halbert Hargrove as featured in Small Business Adviser
A new year is a good time to implement plans to supercharge your business.
Strategic planning and goal setting are incredibly important for businesses of all sizes, as well as for business owners themselves. This process should connect your goals with “why” that goal is important to the activities that people do within the company.
A good business coach will guide you through the goal setting process, facilitate the strategic planning process, and hold you accountable. I have found coaching, goal setting and the strategic planning process energizing while simultaneously creating focus, and a new year is a good time to implement plans to supercharge your business.
An Outside Perspective
Business consultants can come in many forms and offer different types of services depending on the phase of your company (startup, growth, mature, or preparing for a sale) and where you are in your career. Business consultants can work with a CEO or individuals directly to provide more personal and business coaching, or they can be hired to help identify weaknesses and recommend strategies and tactics to improve them.
Business consultants can help turn around a struggling business or can help an owner of a business prepare for sale.
They can even work with your management team to help provide the support and guidance required to address issues and meet goals.
There are different types of coaching that are beneficial to both professional and personal growth. For example, five years ago, my company offered leadership training and coaching where we spoke to a coach once a month to discuss our goals and challenges.
The coaching helped provide guidance on potential ways to think about those challenges and discuss options for overcoming them. The coach also provided guidance on how to work better with colleagues and handle different communication and problem-solving styles.
More recently, my firm provided coaching that has given many of us additional support and education on creating business development goals and activity plans.
