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News & Features Why Businesses Need Coaches or Mentors

Why Businesses Need Coaches or Mentors Featured

Written by David Scholtz on Friday, 30 September 2011 12:01
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For the sports-focused society that we are, I am surprised that there are not more high-paced businesses that make use of business coaches and mentors. I have come across very few people who admit to seeing the benefit of leveraging an outsider as a confidante, advisor and coach but rather the opposite "We are doing okay, why would we need one?". Is okay enough or do we want to be brilliant?
I get the very real sense that in British business culture a business coach or advisor is a sign of weakness or failure and yet we would not expect any budding sports person to pursue a sporting career without a coach – how are they different? Sports requires agility, fitness, clear mind, focus, determination, vision and passion. Business requires the same, doesn't it?


When I was competing in martial arts I had three coaches, one for my mental preparation, one for perfecting the practice of forms (Kata) and the third to focus on my sparring. I really benefited from their ability to help me think about the problems and where to find the opportunity in my opponent's flaws. I could lean on them when I needed to and I felt supported by their stability and their perspective. While I was psyching up for the match or competition, they stayed calm and kept my focus. They knew my strengths and weaknesses and could help me train on improving between matches.

In business there are no matches, the battle is by day, minute and second. There is always a competitor looking for the same client, wanting to provide a better or cheaper product. The requirement to stay on top of ones game is relentless. There is more information sharing and data available and we are making decisions at breakneck speed. Business is now 24/7 and any successful or aspiring business person is always connected. Just like when I was warming up for the next sparring match.

In this environment, the need for perspective is great and yet the environment is not conducive... this is why businesses need coaches.

Today I ran a proposition and position workshop with a client over a three-hour session. The benefit of working with an advisor is that my client could take the step back and look at their business from where I am standing... on the outside. They had tried to do the work internally but they had not prioritised it, didn't have the external perspective and had taken a long time to get not very far. This is not uncommon, rather the opposite!

Today we were all really fired up, inspired and extremely productive. Net-net: we transformed the proposition into one which is exciting and strong, they felt inspired by their business and they have a tool-set with which to go sell their kick-ass product. This is something that otherwise would have taken months to get to.

Obviously I would think that businesses need coaches and mentors given my profession as a coach and psychologist but I fell into this through looking for investment worthy businesses and kept coming across high-growth businesses that had not stopped to take a breath and as such were putting their own fires out. The most rewarding thing for me in coaching is seeing the clients eyes light up, their inspiration is at full tilt and they realise they probably do have the answers to the problems, it is the space and perspective they don't always have and that is what I bring – along with some humour and external insight for validation.

A great business is fit, self-aware and agile. A mentor is someone who challenges, encourages and validates before the market gets to do that. A coach is someone who prepares for the fight and for the challenge. They provide the stability and insight by not being in the same boat rocking to the same waves or standing on the same burning platform.

If you feel like you are running a 200mph marathon and want to up your game, and see business as a mental and economic sport, have you thought about a mentor or coach as an investment rather than a weakness?
Last modified on Friday, 30 September 2011 13:46
David Scholtz

David Scholtz

David joined Ariadne Capital in 2006 to be part of the transaction team. His sector expertise includes digital entertainment, local media, online consumer services, e-commerce and online recruitment. David has championed and advised companies including BView, Enrich Social Productions, Nearworld Investments, Momail, Consenda and Digital Stores.

David's key focus areas include advising on capital raising, business growth strategy and partnership development as well as corporate advisory within the digital media and online services sectors. He has a strong grasp of new technologies, web development and consumer services.

Prior to Ariadne Capital, he was a Senior Business Analyst at Yahoo! Search Marketing, a division of Yahoo! Europe, for three years where he worked in the European Operations Finance team as a finance business partner to the European YSM Business Development team. Prior to Yahoo! Europe he was at Monster Worldwide (European subsidiary of Monster Worldwide Inc) for four years as European Business Analyst, working across the European Finance and Sales divisions with the European CEO, CFO and Head of Sales.

David has a dual BA Psychology degree from Richmond the American International University in London and the Open University, is a Swedish South African and speaks Swedish, Afrikaans and some French and Dutch.

david.scholtz@ariadnecapital.com

Website: davidscholtz.com/

comments  

 
0 # Mowgli Foundation 2011-10-03 09:20
Great article. It's good that you distinguish between the functions of your coaches, when you compare business to martial arts- one for mental prep, one for sparring, etc. Coaching and mentoring perform different functions, and it's better to have more than one external advisor for the different levels of support that you need when running a business. We've linked to an article by Robert Garvey on this page which discusses the difference between coaching and mentoring in business, it's worth a read. http://mowgli.org.uk/about-mowgli/what-is-mentoring
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