My Business Coaching System
My Business Coaching system
The Mission Focused Business Coaching System
My Business Coaching system, delivered without nonsense; part advisor, part sounding board, part cheerleader and part strategist, supports business leadership teams to tackle today’s pressure whilst adapting to exploit tomorrow’s opportunities. The Business Coaching System utilises knowledge gained over 20 years of working as a successful business improvement and turnaround specialist.
Often asked to get involved by Private Equity or Banks, my approach as a Business Coach focused upon business improvement, is to create value by focusing upon total return to shareholders (TRS).
Total Return to Shareholders (TRS).
And I think this focused approach makes a difference. I am not concerned with the latest fashion in business management, the latest change management programme or software installation. My Business Coaching system is based upon delivering sustainable results quickly.
The Coaching System
So, you could describe my coaching philosophy, Mission focused leadership as the “what”, now let’s look at the coaching system I use, the “how”.
The four cornerstones of my Business Coaching System are not plucked out of thin air; there is significant research to back up the credibility of using the four cornerstones as the basis of a Business Coaching System, Ten years, in fact.
The authors of What Really Works used 10-years of research from successful companies, looking for the answer to that elusive mystery — What really works?
From that study emerged 4 primary management practices that form the crucial approaches for achieving lasting business success.
The research found a clear and compelling correlation between TRS and eight general areas of management practice: four primary and four secondaries. In shorthand, the four primaries were strategy, execution, culture and structure. The four secondary areas were talent, leadership, innovation and mergers and partnerships. You can read the Harvard Business Review article on the book here
The companies with high scores in all four primary areas consistently outperformed their competitors and delivered shareholder value. In fact, the link between four practices and business success was astonishing. A company consistently following the formula had a better than 90% chance of being a winner.
My Business Coaching System centres around the four primary areas and form the cornerstones of my Business Coaching System:
The Four Primary areas of my Coaching System:
- Make your strategy clear and focused. Management teams must devise and maintain a clearly stated, focused strategy. The strategy must be communicated so that it is understood by employees, customers, partners and investors.
- Execute flawlessly. Management Teams should know how to execute the strategy flawlessly. You must be efficient in your planning and ruthless in your execution.
- Make your Organisation Fast and Flat. The Business must be fast and flat. Management Teams should cut through layers and silos and create an open, communicative and effective organisation.
- Build a Performance-based culture. Management Teams should build a performance-based culture. Performance makes the difference – the setting of performance standards and consistent achievement of those standards drive a company in the right direction, consistently.
Let’s look at each of the four steps in further detail:
One – Make your strategy clear and focused:
- Build your strategy around a clear value proposition for the customer;
- Develop your strategy from the outside in. Base it on what your customers, partners and investors have to say and how they behave;
- Maintain antennae that allow you to fine-tune your strategy to changes in the marketplace;
- Clearly communicate your strategy within the organisation;
- Keep growing your core business vertically and laterally – beware of the unfamiliar.
Two – Execute flawlessly:
- Deliver products and services that consistently meet customer expectations;
- Empower front lines to respond to customer needs;
- Constantly strive to improve productivity and eliminate all forms of excess and waste.
Three – Make your Organisation Fast and Flat:
- Eliminate redundant organisational layers and bureaucratic structures and behaviours. Simplify, simplify, simplify;
- Promote cooperation and the exchange of information across the whole Company;
- Put your best people closest to the action and keep your frontline stars in place.
Four – Build a Performance-based culture:
- Inspire all to do their best;
- Reward achievement with praise and pay-for-performance, but keep raising the performance bar;
- Create a work environment that is challenging, satisfying and fun;
- Establish and abide by clear company values.
The evergreen project results, which informed the research, indicate that a company that succeeds in all four primary practices and any two secondary ones has a 90% chance of winning. On the other hand, a company that fails in any primary practice is in danger of being a loser. So, in short, a company needs to run on six tracks at once to win, and that can place much stress on a management team who is, potentially at least, struggling to keep up with today’s latest drama, let alone focus strategically upon maximising shareholder returns.
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