Introduction
There are 3 distinct stages to every successful business mentoring or coachinadvisory project, designed to ensure a successful outcome from the clients and the business mentor or coaches perspective.
Whilst every mentoring and business coaching is unique, they will typically follow the 3 Stage process explained below.
1. The process of defining and agreeing the mentoring or coaching project scope
Every business mentoring and coaching assignment is different, but the underlying issues that prospective clients have are surprisingly similar, and the solutions are common to most industries and companies.
So whilst the initial reasons that a client will contact me vary, the issues will be similar for most companies and usually lie within one or more of the following areas:
– Financial performance issues are being experienced with the current business,
– Client wants to infuse modern technology (internet and social media marketing) into their business, but is not really sure how to do this to achieve the optimal results, or
– Client wants to take their business to the next level, but is not sure exactly what that should be or how to do it.
However, whilst every business comes with certain specific problems, concerns and frustrations, it is important to discover what it is that the client truly wants, and then provide a solution that gives them the benefits they are seeking.
This is one of the reasons I offer a free 30 minute strategy consultation. At that first meeting, I will listen carefully as the prospective client explains what the issues they wish to resolve are, and will ask relevant questions to make sure we have identified the root cause of their concerns not just an effect of the underlying issue.
For instance a client of mine called me because he belived his product or advertising campaign were not working, as close rates on sales calls had gone down over the past year. But when we dug deeper, it turned out that the new sales people he had recruited were really not sufficiently skilled or experienced.
During that initial strategy call we also need to agree:
1. The scope of the relationship and work to be undertaken and any specific exclusions: these may be things that either I, or the prospective client believe should be addressed by the businesses own team members.
2. What, if any, internal resources will be involved, and the extent of that involvement.
3. Whether we will need to involve external specialists to undertake specific tasks or projects that require their specialist skills and expertise. This could for example be;
– to undertake a review of manufacturing systems and techniques employed by the business,
– to review accounting software, or
– to set up internet marketing or social media platforms and associated advertising strategies that we recommend during the project implementation phase.
The reviews and implementation by the external specialists would usually be treated as separate projects as they are usually complex and difficult to quantify until the review has been completed and an action-plan agreed.
My involvement in that would be limited to making sure that both parties agree the scope, ensuring that the price was fair and reasonable and maintaining an overseeing review role at regular, pre-agreed meetings during the implementation phase to make sure the projects are on schedule..
All the above actions are essential in ensuring that all parties involved are in alignment before the implementation phase commences and will minimise the risk of any issues or disagreements arising at a later stage.
2. Project Implementation Phase
Once the project implementation phase commences, the external consultants, if there are any involved, will provide ongoing updates to the client, his executive team and myself, at regular review meetings which will be set and agreed in the project proposal.
Any significant issues will be flagged as soon as they arise. This will frequently include the identification by our team or internal staff involved in the project or any other issues or concerns that we become aware of that may also require attention beyond the scope of the current project. These would generally be treated as separate tasks that the consultant and the client will need to quantify and agree terms on.
The steps outlined above will ensure that consulting projects runs smoothly, that there are no undesirable surprises and that both parties are informed and up-to-date on an ongoing basis. This process will ensure that the outcomes agreed with the client in the consultants proposal letter are achieved successfully.
3. Typical Client Results
Provided all the above steps are adhered to and no significant unforeseen issues arise during the implementation phase, the specific outcomes agreed in the mentoring or coaching agreement will have been successfully completed.
In some cases, although the original project has been completed successfully, additional tasks or projects will have been added as the project proceeded. For instance, as the client sees the positive results being achieved, they may want to add additional elements.
Projects involving specific financial performance issues commonly lead to the recognition of the need to implement a formal strategic planning process, including annual profit, capital expenditure and cash requirements, and financial budgets (First year of business plan) and projections (subsequent years); this in turn will often require raising additional funding to support the growth plans.
I have extensive experience of doing this and can, if required, be involved in, or oversee this process on their behalf.
So, as the trust between the client, his executive team and the mentor grows, this can lead to an ongoing relationship, including a deeper involvement in consulting projects, and in some cases, an ongoing coaching/advisory role which can last for as long as the business owner and the mentor can see the continuing value of the relationship.
This may be formal (eg a regular scheduled meeting every few weeks or monthly), or even ad hoc as the client feels they require ongoing independent expert advice, or just an informal chat to brainstorm a subject.
This type of relationship can add significant ongoing value for the CEO or Business Owner, as just knowing they have access to a trusted external expert advisor available if and when they need them, can add significant peace of mind and comfort and reduce the level of stress in their life.
In addition to the practical business outcomes, typical flow-on outcomes for the client are the real emotional benefits that they (whether consciously or unconsciously) were seeking all along:
– Their business is back on track, and they are implementing a clear business growth strategy, with a structured business-plan and ongoing review process in place.
– They are generally more relaxed, and less stressed as their business is more profitable and under control than it has been for many years.
– They are now working on, not in their business.
– They are more confident having a trusted advisor available whenever they need them.
– As they are more relaxed and confident, they are leading their management team more effectively.
– The management team is happier, more motivated and positive about their future.
– This is freeing up owner/top executives time for activities both inside and outside of work.
– Owner/Top Executive has more time for family and themselves.
– Family and their partner are happier.
– So overall they are leading a more balanced lifestyle, and
– All the stakeholders in the Company and the Owner/Top Executives life have a happier more prosperous life.