An Essential Component of a Company's Profitability
Business owners have their bottomline top-of-mind. How to increase production and streamline/reduce expenses is an art that they, and the money balancers within the org, continually finesse.
There are plenty of options available to promote profitability and financial well-being. The one I'm experienced with is coaching. Infusing coaching into company conversations, whether it's 1:1 with those who make up the company or via group roundtable, creates a unique competitive advantage for your brand.
Check out why ...
1. Coaching promotes outside-the-box thinking.
Coaches, skilled ones, are experts in asking the right questions and listening to what's being said/not said. As part of their skillset they sense with great ease. With this in mind, coaches uniquely:
a) give permission to dial down (momentarily) the logical, fact-loving, analytical brain to dial up expansiveness, creativity, and intuition.
b) provide the ability to look at a scenario from a different lens or viewpoint.
Both creative thinking and perspective lead the way to creating unique outcomes that drive new or stronger revenue streams, and more cost effective operating processes.
Whether it's coming up with new or re-evaluating how thing are done, coaches inspire the confidence to think creatively and remove the "this isn't possible" vein of thinking to reveal that new really isn't all that challenging or bizarre.
2. Coaching fuels performance & momentum.
We're all familiar with being in the rhythm of a powerful, charged-up mindset which helps get things done. Coaching and development empowers employees to feel steady and capable so they can execute with certainty and confidence. This energizes people, projects, and culture, helping money move in the right direction.
Recall that teacher, coach, or mentor that believed in you years back, instilled confidence, and helped you overcome hurdles so you could perform at your best. This mirrors the professional coaching experience. Coaches drive output.
3. Coaching helps lower stress & absenteeism.
The coaching space provides an outlet to work through challenge and encourage congruent, intentional workflow. Much like #2 (above) coaching helps reduce stress and support the individual in feeling whole-life and whole-person harmony. Team members show-up engaged and ready to perform.
4. Coaching helps reduce the fear of change.
For some, change can induce resistance and anxiety. With curiosity, re-framing, and uncovering limiting or sabotaging beliefs, the fear-grip is loosened and individuals can move beyond to greater, more effective places that can work in favour of the company's balance sheet.
5. Coaching promotes collaboration.
Whether it's 1:1 coaching or group facilitation, coaching has a special way of reducing siloed operations, and encouraging dynamic solutions, collective support, inclusivity, and teamwork. Fundamentally, it's about uncovering the block that's preventing collaboration. By breaking it down and addressing the resistance, there is light on the other side.
6. Coaching is a talent attractor.
Think beyond topping up wellness benefits, like massage or eye care, and extending time off (both dually important). Attract and retain the best in class to represent your brand by offering to take care of your talent in a full, comprehensive way - personal & professional development - body, mind, spirit.
What's possible when your talent group is supported in a holistic manner? Some of the outcomes tied to profitability that I've witnessed and been apart of include:
- sales targets exceeded
- new or re-structured org divisions to support efficiency
- new operations and procedures
- leaders becoming ones to follow, increased respectability
- hard topics being addressed with ease
- confident, fluid presentation skills with outside stakeholders
- enhanced peer relationships
- burnout avoided, improved physical and mental health
- deep gratitude and appreciation from employees to employers for the coaching space
By getting asked the right questions (tough ones included), being open to adapting your viewpoint, and a willingness to overcome stagnancy, financial well-being can undoubtedly be optimized. Coaching at the very least gets the conversation rolling.
Professional coaching has been around, and is growing in high-demand. How satisfied are you with your company's bottomline? Where is there room for growth? What options are available to you?
Allow this to serve, and serve you well ...
PS. If you're not reading this with a company perspective in mind, consider these insights for your personal financial well-being.