Information is the seed for an idea, and only grows when it’s watered” (Heinz V. Bergen)
The statistics of businesses facing failure, whether in the developed or developing countries of the world are simply frightening. For instance, there are studies and surveys that suggest that more than 55 percent of businesses fail within their first five years of existence. And, out of those that are left, over 40 percent would fail within the next five years. Even now, well established businesses are also failing, as competition and fast changing business landscape forces proactive and reactive survival strategies.
I personally believe that business coaching, especially when embraced by budding entrepreneurs, as well as the owners/managers of small businesses can play a big role in reversing the above mentioned trend. In this regard, coaching must focus on certain specific areas. One such important area is the development of personal foundations. Many people still do not actively associate sustainable business success with continued personal development, which is inherently linked with personal foundations.
To give an analogy, it is worth remembering that the foundation of a building is usually the first part of a building to be established. While it is hidden or an unseen part of the building, the foundation gives the building its material base, and to a large extent offers the building structural stability. It is also important to note that the foundation of a building is usually the last part of the building to be affected when there are threats and dangers to the structural integrity of the building.
As a result, the type of foundation that is prepared for a building is indicative of the type of building that will result, and the possibility of its stability. You simply cannot lay the same kind of foundation for all kinds of houses, whether they are one, two, or several storey buildings. It is exactly the same with business development. The personal foundations of a business owner will always sustain or diminish the business.
This is because the personal foundations of a person are well rooted in the person’s personal values, belief systems, attitudes, lifestyle, competence, resources and vision. And, just as the foundation of a building exerts great influence on the material integrity of the whole building, so do the personal foundations of a business owner have bearing on the direction that his business will take, as well as the success and sustainability of the business.
Business coaching is therefore so much about facilitating the core of a person, usually the business owner/manager, in such a way that he can access his internal resources (personal inspiration and unique knowledge) to make informed decisions. Business coaching is able to do this usually through the process of increased personal awareness and heightened personal energy. The key in this regard is for coaching to compel personal core values.
A person’s core values are of course manifested through various ways. Some of these are shown through his personality, motivations, attitudes and perception. These are of course the same factors that make the individual to be emotionally and socially different from other people. They therefore largely define the person and most often reveal the real reasons why he will do (or not do) certain things. They are the factors that would normally propel a person to take interest in continuous self-examination and purposely invest in self-development.
What all of these mean to a business owner and his continued business success is that he must be ready to pay the price to develop himself in the area(s) that he would be celebrated as a huge success.
This is often the area where he has his greatest strength and therefore the area where he can and must seek for distinction. It is also the area where he would most likely have self doubts and fears, which may end up being hindrances and inhibitions to personal development and business sustainability.
As far as coaching is concerned, personal inhibition suggests the presence of a mental obstruction or personal inabilities that hinder progress. Generally, inhibitions could result from, or be related to one or more of the following: laziness, negative thoughts, bad attitudes, fear, lack of trust, insecurities, poor human relations, negative beliefs, poor judgment, lack of confidence etc. These tendencies cause a lack of self-motivation and inspiration in people, leading to consistent failures, even business failures.
Coaching is however, by its nature and structure anti-personal inhibition. This is simply because coaching thrives on improving personal inspiration through self awareness, personal enthusiasm, self honesty and the development of positive belief systems. The thrust of coaching in this regard, especially in relation to business impact is to help develop a vision of success that pulls you as a magnet. This is the pull or pleasure factor, which creates personal energy to dream and achieve dreams.
Emmanuel Imevbere
