If you think about it, a startup is like a football team at the start of the season. It takes the right combination of skills, talent, leadership, and vision for success to drive and outperform the competition. But even if you got all of that, there’s still a high chance that it won’t work without the right business advisor to catalyze it.
Many companies have been using business coaches for decades. With talent and creativity flocking to startups, it’s only natural that they turn to business coaches as well. An executive coach has the potential to help companies evolve outside of their business plan and truly prosper. Here are some ways an executive coach can help a start-up company reach the next level:
They are objective: Startups have an inherently obvious downside: Their leaders view their companies as their own children and are too emotionally involved and attached to the business decisions they make. Emotion and passion are important, but they can often cloud the perception, planning, and execution of business plans. The objectivity provided by an executive coach goes a long way towards improving startup performance. A leader of such a company can learn a lot from an objective coach.
Help leaders develop their personal style – Leadership qualities are essential to the success of any startup. That is why it is important to encourage them from the beginning and working with an executive coach can be of great help in that regard. Not only can they assess individual skills and see what needs improvement, but they can also work with leaders to do just that. Coaches bring out the best in people. Good coaches provide the right information on behavior and thinking that fosters a proper leadership style for the startup.
Help team building – Team dynamics is a tricky business. The reason lies in the fact that each team member brings unique experiences and it can be difficult to make it all work. A good coach can help identify differences and recommend ways to make the team better integrated. Team effectiveness is an important part of every startup project.
Point out weak links proactively: Did you know that 8 out of 10 startups fail in the first year and a half? The reason is that companies do not have an action plan for potential future problems. Even skilled leaders can have a hard time reading upcoming changes and reacting accordingly. A good coach can bring their experience in this regard and point out potential pitfalls before they manifest themselves.
Set Goals – A unified sense of growth is needed for a startup to grow successfully. An executive coach can work with the leader to align the goals and vision of the company. Not only that, but the coach can align the goals of the company with the personal goals of the leader for professional development and growth.
Clearly, an executive coach works wonders for startups. The business coaching experience they bring can make a big difference.