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THE BUSINESS COACHING PROCESS, STEP BY STEP

We have spoken on other occasions of what is business coaching and how it can help your company. Today, we present you the process of business coaching, step by step.

HOW IS A BUSINESS COACHING PROCESS DEVELOPED?

Like any process, coaching has a series of well-defined stages and it is important to continue to achieve the objectives of this methodology. Starting with the definition of objectives, and ending with the analysis of results, we present you step by step the process of business coaching:

1st: Establish the goals. On other occasions, we have defined coaching as the process by which the coach attends the coachee (or the coachees) to achieve their objectives. Therefore, the first step when approaching a coaching process is to trace and define those objectives.

We have also pointed out that coaching is developed through a methodology based on questions. Although it will take place throughout the whole process, this methodology is especially important during the setting of goals: they must be specific, measurable, realistic and defined objectives in time.

2nd: Examine the current situation. Once the goals are defined, it is time to begin to understand in what state the situation is. The most important aspect of this stage is objectivity: although difficult to achieve, impartiality is vital for a realistic analysis of the current situation.

Also at this stage is the methodology of questions, but more important is the work of observation of the coach and his listening skills. Analyzing each answer of the coachee before formulating the next question is vital, as well as asking very precise questions that allow obtaining very detailed answers.

3rd: Analyze the possible alternatives. The objective during this third stage of the coaching process is to create a list of available action alternatives. The important thing here is to obtain the largest number of options, not the quality or feasibility of the same: the only way to achieve creative solutions is not to throw away our ideas in advance.

After making the list, it is time to choose the alternative that seems best, taking into account the costs and benefits of each of the proposed options. It is important that it is the coachee who arrives at the solution by himself, although always with the help of the coach.

4th: Design an action plan. The purpose of this phase is to design an action plan. It will be necessary to create a specific plan for each goal that has been marked in the first stage. Following the coaching methodology, the coach will accompany the coachee during the design of the plan through the formulation of precise questions.

5th: Follow-up stage. Every business coaching process from unlockingyourfuture.com.au/ includes a final stage of evaluation and follow-up with the aim of providing feedback to the coachee on the actions carried out following the action plan. Thus, progress can be checked and future problems prevented, as well as reinforcing the learning of the coachee.

THE BUSINESS COACHING PROCESS, STEP BY STEP

WE GET THE BEST PERFORMANCE FROM YOUR TEAM

Among the immediate benefits of coaching are, for example, the improvement in the decision-making process, the faster and more effectively reach of the objectives and goals of the organization, and the acquisition of new competencies and responsibilities.

However, coaching must be a flexible tool, adapted to the needs of each company, leader or organization: the process must be traced with sensitivity and empathy, understanding the organizational context and the current situation of each company. Even more so bearing in mind that in many of the occasions, the services of the coach are required when the companies go through transformation processes.

 



Difference between Internal and External Financing

Below this post is all about the detail explanation of internal and external financing? Finance is an important part of business and acted as a blood running in our body for life.

Difference between Internal and External Financing

Internal Financing

Retained earnings: When a company has profits, it can make the decision to separate part of them or their entirety to reinvest them in operations.

Issuance of shares: In the limited company, the contributions of the partners are captured through the issuance of shares, which may be common or preferred.

External Financing

  • Short term

By credit institutions: The operations that can be carried out with this type of entities to obtain short-term funds, among others, are the following:

  • Direct loans
  • Discount of documents
  • Secondary loans
  • Other sources: Companies can obtain funds through other modalities, such as:
  • Advance customer
  • Accounts of suppliers

Long-term

By credit institutions: The destination of these credits is oriented in particular to strengthen the other sources: fixed assets of the industries and are generally backed by mortgage and / or collateral. There are other ways to attract resources, such as financial leasing and the issuance of obligations.

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