How Can Executive Coaching Help My Family Business?

planning family business

“Given the complexity and paradox of family business environment, how is that some firms manage to survive beyond centuries? Family businesses are under threat from both sides, family as well as business.”

~ Rajesh Jain ~

Jennifer Asks:  I’ve always thought of executive coaching as something that’s just for executives at big companies. Can executive coaching help me run my family business?

Joel Answers:  Executive coaching is not just for big businesses. A good coach can help you move ahead in your career regardless of your current level, whether you are a high-level executive, a manager, someone who wants to become a manager, or the owner of a family business.

Here are three ways family businesses can benefit from executive coaching:

  1. Create work-life balance. Self-employed people, more so than other workers, tend to blur the lines between work time and family time. This is especially true if you are working from home or if your children are working with you in your business. An executive coach can help you balance your work and home lives more effectively so you can enjoy both more.
  2. Prepare for a transition. At some point, your children may want to become more involved in the business. An executive coach can help you make this transition more smoothly, encouraging the pursuit of new ideas and fresh perspectives brought in by the second generation without discarding the hard-learned lessons of the first.
  3. Learn from the coach’s experience. An experienced executive coach who has worked with dozens or even hundreds of different companies and seen what works—and what doesn’t—in a variety of industries can save you an unbelievable amount of time and energy by pointing out bad habits and flawed processes that you may not ever notice on your own.

For more information on this topic, you might want to read the related article on my Garfinkle Executive Coaching website titled “How Executive Coaching Can Help Your Family Business.”

Talkback: Are you a business owner who has hired an executive coach in the past? Tell us about your experience. Or ask whatever else is on your mind—maybe we’ll use your question in a future Q&A.

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7 Reasons You Might Need an Executive Coach

Success-key

“Mentor: Someone whose hindsight can become your foresight”

~ Ancient Chinese proverb ~

Is executive coaching for executives only? Not at all! If you want to develop your leadership skills and take on greater responsibility within your company, executive coaching can help. Whether you’re in Boulder, Chicago, San Francisco, or anywhere else, if you’d like to move ahead in your career, an executive coach may be just what you need to help you advance in your organization.

Some reasons you might benefit from executive coaching include:

    1. You are facing obstacles at work.
      Whatever it is that you are facing, it can help to have an experienced coach evaluate the situation and provide advice based on the extensive experience he or she has accumulated while working with other clients. A fresh set of eyes can’t hurt either.
    2. You have reached a level in your career where you aren’t sure what’s next.
      Where do you go from where you are now? What skills do you need to move up to the next level? If you’re not sure about the answers to these questions, executive coaching can help.
    3. You want to achieve a much higher salary level quickly.
      If you want to drastically increase your income more quickly than would normally be possible, you need a coach to help you develop a plan to make that happen.
    4. You don’t understand office politics.
      Understanding how things work in the corporate world is essential if you want to get ahead. An executive coach will help you navigate the political atmosphere that exists in your workplace.
    5. You don’t like self-promotion.
      Your coach can work with you to help you ease your way out of your comfort zone to do the things you must do in order to get ahead.
    6. You aren’t getting recognition for the work you do.
      Working with an executive coach, you will learn the tools you need to make sure everyone at work knows just how valuable you are to the company.
    7. You don’t want to be the next one to be laid off.
      You need to increase your visibility in the organization to ensure that the company leaders are of aware of the impact you make on the company’s bottom line.

Executive coaching gives you the skills you need to create the perception you need to move forward in your career, regardless of where you are now. You’ll learn theories of executive coaching such as perception management, visibility, team building and interpersonal relationships.

If you’re looking for executive coaching in Boulder—or anywhere—contact me to get started developing the leadership skills you need to propel yourself to the next level in your career.