{"id":264,"date":"2023-02-17T10:08:46","date_gmt":"2023-02-17T04:38:46","guid":{"rendered":"https:\/\/www.icf-coaching.org\/subashcv\/2023\/02\/17\/what-business-problems-can-an-executive-coach-help-solve\/"},"modified":"2023-02-17T10:13:22","modified_gmt":"2023-02-17T04:43:22","slug":"what-business-problems-can-an-executive-coach-help-solve","status":"publish","type":"post","link":"https:\/\/www.icf-coaching.org\/subashcv\/2023\/02\/17\/what-business-problems-can-an-executive-coach-help-solve\/","title":{"rendered":"What Business Problems Can an Executive Coach help Solve?"},"content":{"rendered":"
\n
\n
\n
\n
\n
\n
\n
\n

As an investor, employee, or user, would you root for Microsoft under Nadella or Twitter under Musk?\u00a0<\/span><\/p>\n

Oops, did we start on a controversial note??? Well, that was intentional!<\/span><\/p>\n

The question reminds us more than ever that organizations are all about their top leadership. You need capable, sensible, stable leaders to see your business through the sluggish economy, changing employee dynamics, supply chain disruption, pandemics, and myriad other factors.\u00a0<\/span>Executive coaching can equip your leaders with the right mindset and strategic thinking skills to accelerate your business goals.\u00a0<\/b><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

Why would somebody hire an Executive Coach?<\/b><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\n

International Coaching Federation (ICF) defines coaching as partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential.<\/span><\/p>\n

An executive coach typically works with CXOs (soon-to-be\/current), VPs, founders, entrepreneurs, and high-potential leaders to achieve goals, both organizational and\/or personal.\u00a0<\/span><\/p>\n

Leaders select executive coaches to be their thinking partners, non-judgemental safe sounding board, accountability partners, cheerleaders, and critics. Many leaders also select executive coaches to challenge them because coaches can give feedback that others shy away from.\u00a0<\/b><\/span><\/p>\n

Organizations also hire executive coaches to help leaders evolve into CXO roles.\u00a0<\/span><\/p>\n

Executive coaching is an incredibly empowering process that drives transformation from within.\u00a0<\/span>Executive coaching produces a sustained behavioral change that helps leaders adopt a leadership mindset.\u00a0<\/b><\/span>Resilience, flexibility, conflict management, quick and right decision-making, etc., are all part of it. This shift accelerates business performance for the organization. Executive coaching enabled Sathya Nadella to transform Microsoft\u2019s fortunes.<\/span><\/p>\n

Therefore, executive coaching is meant for leaders open to working on themselves committedly to better themselves and their organizations.<\/b><\/p>\n

To know more about when and why organizations and leaders hire executive coaches, read our insightful blog,\u00a0<\/span>Six Triggers that Spell \u2018I Need Executive Coaching\u2019<\/a>.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

What Business Problems Can Executive Coaching Solve?<\/b><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\"\"<\/span><\/div>\n
\n
\n

We asked successful executive coach,\u00a0<\/span>Madhu Kanna\u00a0<\/a>(ICF-PCC), to share some common business problems for which leaders approach executive coaches.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

1) Clarify the organization\u2019s vision & goals<\/b><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

Executive coaches challenge leaders or founders to identify limiting beliefs when setting up or clarifying the organization\u2019s vision and mission.<\/b><\/span>\u00a0They also help get rid of such beliefs.\u00a0<\/span><\/p>\n

Executive coaches also ensure the vision is aligned with organizational values and create SMART goals oriented to that vision.\u00a0<\/span><\/p>\n

Executive coaches\u00a0 inspire leaders to push boundaries and set BHAGs (Big Hairy Audacious Goals)\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

2)<\/b>\u00a0Give objective 360-degree performance review for CXOs<\/b><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

As you get to the top, your visibility to others increases, but your self-visibility reduces. Many leaders sabotage their businesses due to this blindness. Adam Neumann & WeWork, John Schnatter & Papa John, the list goes on. So CXOs must get accurate, critical feedback at the right time.\u00a0<\/span>An executive coach, as an equal & an external party without vested interests, can best show CXOs the mirror.\u00a0<\/b><\/span>Coaches collect & share observations about how the leader is viewed by those above and below them in the hierarchy.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

3)\u00a0<\/span>Scale up businesses<\/b><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

Scaling and growing requires first letting go of old mindsets and adopting new behaviors. Strategies and behaviors that served you when you were a one crore company may not suit you as a five crore company.<\/span>\u00a0Executive coaches help leaders to develop vision and strategies as per requirement.<\/b>\u00a0They also fine-tune a leader\u2019s ability to zoom in & out and view things from the organization\u2019s perspective.\u00a0<\/b><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

A leader who wanted to scale but found it difficult approached Madhu. Coaching conversations revealed that the main challenge was the leader\u2019s limiting mindset that scaling requires money. Madhu helped widen the client\u2019s perspective to look at other aspects that could be used to scale up.\u00a0 Thus he helped the client move from a mindset of\u00a0<\/b>\u2018I don\u2019t have\u2019<\/b>\u00a0to \u2018 I\u00a0<\/b>have\u2019<\/b>. This shift in thinking enabled the leader to scale up his business.<\/b><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

4) Navigate critical internal & external stakeholder relationships<\/span><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

Business thrives on the right networking. Leaders can use executive coaches to develop good people skills to handle large internal teams and close client deals.\u00a0<\/span><\/p>\n

Executive coaches can be invaluable during mergers and acquisitions.\u00a0<\/span>They help leaders manage power shifting and sharing, company culture change, and stakeholder relationships with the right mindset.<\/b><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

Madhu shares a coaching experience with a company founder struggling to settle in after a merger. The client found it difficult to work with his co-founder, who had a different set of values & working style. Madhu helped the leader discover the root of the problem \u2013 the client was not used to sharing control, which led to power tussles & ego clashes. From there, they worked together to build an accommodating mindset that focused on the benefits to the organization. Madhu enabled him to look at alternative ways to handle delicate issues.<\/b><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

5)<\/span>\u00a0Develop leadership & executive presence<\/b><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

The key to successful leadership is influence, not authority.<\/i>\u201d \u2013 Kenneth H. Blanchard<\/span><\/p>\n

Leadership presence is a leader\u2019s aura of influence that can motivate employees, inspire confidence in clients, build a brand and sustain a legacy.\u00a0<\/span>Executive coaching makes leaders more self-aware, authentic, and value-centric and enables them to operate from this state of awareness.<\/b><\/span><\/p>\n

Executive presence or persona refers to the more physically visible aspects of leadership presence, which includes physical grooming and appearance, social and communication skills, and societal etiquette. Executive coaches can help leaders develop their executive persona too.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

6) Develop the leadership pipeline<\/span><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

\u00a0Executive coaches are hired to groom next-in-line leaders and evolve them to be ready for CXO roles. Why hire executive coaches for this?\u00a0<\/span>While mentors can hone professional competency, executive coaches go deeper to develop the leadership mindset.<\/b><\/span>\u00a0Executive coaching increases self-awareness which helps leaders realize their strengths and weaknesses and work on them. Executive coaching roots out limiting beliefs and nurtures empowering beliefs. Executive coaches also help them develop executive & leadership persona.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

7) Cultivate a healthy company culture<\/span><\/span><\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n

Business performance accelerates when employees are motivated and happy.\u00a0<\/span>Executive coaches aid in developing holistic, enlightened leaders who set healthy company culture within their organizations.<\/b><\/span>\u00a0This can reduce attrition and improve employee engagement.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

How do I choose an Executive Coach?<\/b><\/h2>\n<\/div>\n<\/div>\n
\n
\n

Innumerable executive coaches offer services online and offline. How do you select the right executive coach to gain maximum RoI from the executive coaching engagement?\u00a0<\/span><\/p>\n

Here are some things to keep in mind while selecting an executive coach.<\/span><\/p>\n

1)\u00a0 Choose ICF credentialed & certified executive coaches \u2013<\/span><\/span><\/h3>\n

First step \u2013 without a shred of doubt, has to be to select an ICF Credentialed Executive Coach. Executive coaching requires a process and code of ethics in which ICF-credentialed coaches are trained and experienced. You can get maximum RoI from a coaching engagement when this process and ethics are followed in letter and spirit. So it would not only be prudent but wise to select ICF executive coaches above others.\u00a0<\/span><\/p>\n

2)<\/span>\u00a0Select an executive coach your leader is comfortable with<\/b>\u00a0\u2013<\/span><\/span><\/h3>\n

The coaching process is based on trust and compatibility between coach and client. A chemistry session with the executive coach can verify this.<\/span><\/p>\n

3)<\/span>\u00a0<\/span>Check the RoI of the executive coaching engagement<\/b>. \u2013<\/span><\/span><\/h3>\n

A typical executive coaching engagement ranges from six months to a year. Choose an executive coach or executive coaching firm whose RoI fits your budget.<\/span><\/p>\n

We have covered more considerations at length to help you choose the right executive coach in our blog \u2013\u00a0<\/span>Some Critical Questions You Must Ask When Selecting an Executive Coach<\/a>.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\n

What are some of the overall benefits of executive coaching?<\/b><\/h2>\n<\/div>\n<\/div>\n
\n
Executive coaching benefits both leaders and organizations.\u00a0<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\n

Benefits of executive coaching for leaders<\/span><\/b><\/h3>\n

<\/h3>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
\n