Business Coaching for Business Improvement

usiness coaching can actually bring the much-desired changes to your business. Coach is a word which is derived from “kocsi”, a Hungarian name that means “carriage”. Today, however, the word has a wider use and it basically means transportation of people from one point to the other where they desire to be.

Business coaching, therefore, can be defined as a process that can be applied so as to move a business from its current position to where the owner envisions it to be. What a business coach does is to offer guidance and assistance to the owner in view of business growth, helping in the clarification of the business vision and how exactly it can fit well with the personal goals. This is a very important step and should be a point of focus.

Business owners should be made to understand the importance of reaching their goals for the business and how it can affect them personally. The business owner is responsible for the determination of the passion and speed in which goals are met. When the business owner has a passion for reaching a goal, he will be more determined to make it work by all means.

Usually, a coach will get to know the business owner desires and this helps in the prioritization of the goals and strategies that need to be put in place. It is the work of the coach to meet you with the owner on a regular basis so as to ensure they remain on track to all commitments that they may have made.

Accountability is a critical component of business coaching. It is important to understand that a business coach isn’t a consultant. This means that they don’t work for the business. The main aim is to help you with focus and keep on reminding you the importance of reaching the set goals. They also work to motivate the business owner to actually keep the commitments. They are the sounding board and can even hold a mirror so as to reflect all the blind spots that you may have missed.

Most of the success stories that you may have heard attributed it to amazing business coaches. For business owners who seek to have more time, more money and better relationships and health, it becomes important to have a business coach. The reason why the most business fails is that people are not really taught about ways in which they can actually win at life. Coaching, therefore, bridges the gap and enlightens the business owners in ways that only a coach can achieve.

It is the dream of every business owner to have a winning team around them. Also, anyone in business desires to have great profits in an effortless and exponential way. A winning business allows you to have time and money freedom. If you feel that you need to rethink your commitments and focus on the goals you had initially set out for your business, then getting a great business coach can actually help you and your business to a great extent.

Tips to Choose a Business Coach

Are you thinking of starting a new business? Or are you trying to resolve certain issues related to your existing business? No matter what type of problems you may have, we suggest that you look for a good business coach. While choosing one, make sure that you go with a professional who is an expert in his field. If you have no idea how to hire one, you can read our tips that we have described below.

Evaluate your strengths and weaknesses

First of all, you may want to look at yourself. What you need to do is acknowledge your strengths and weaknesses. In addition, you should consider your expectations for your business since they are essential factors to help you know what you need from your business coach.

Know your budget

You may also want to know your budget so you can find out the amount you can spend on your coach. Aside from the budget, make sure you have enough time for the coach. For instance, some coaches want their clients to give at least 2 hours per week for learning. Aside from this, some professionals are expensive while others are not.

Personality of the coach

Ideally, you may want to look for a professional business coach whose personality matches yours. The fact of the matter is that the job of the coach is to encourage you a bit so you can get to greater heights. As a matter of fact, if you are unable to have a good relationship with the professional due to personality differences, you may not be able to get the most out of him. In your first meeting with the coach, make sure you find out if you two can work together. If you don’t get the response you desired, we suggest that you keep looking for the best professional.

The website of the coach

You should go to the website of the coach and spend at least 15 minutes on the site. This idea is to know if the site is well maintained. If the site has not been updated for ages, this is not a good sign.

Linking sites

You should do a quick site search to find out the number of sites that link to the website of your desired coach. This will give you an idea of how long the site has been around as well as the credibility of the site.

Make a list of a few coaches

As soon as you have shortlisted a few good pros, you should contact them one by one. You should ask them some important questions. Actually, you may want to work with a pro that has a significant amount of experience. You don’t want to hire a coach who has just received his credentials.

Long story short, if you have been trying hard to find a good business coach but have not succeeded yet, then we suggest that you re-read the tips given in this article and try your luck once again. Hopefully, you will succeed.

Why Robotic Process Automation Is Good For Your Business

Have you heard about robotic process automation (RPA)? It’s a new technological salvation for businesses, and it has proved to significantly enhance the efficiency and productivity of companies. Throughout years of experience implementing RPA, and with the valuable help of clients in various fields, like telecommunications, healthcare, insurance, and finance, we are able to provide you with 10 virtues of RPA that make it an effective solution for many of the challenges modern businesses face.

1. Resource saving

What are the two most precious resources? Time and money. RPA allows you to save both. Process automation allows you to save time on internal activities, like setting up new employees, delivering internal documents among employees, as well as the resolution of IT-related issues. Automation also implies a certain level of information simplification, which eases and accelerates interaction with clients, workflow for employees, and performance of devices. With this efficient time economy comes efficient time management – now your company has more time for internal development, increasing professional skills of workers, and sharpening its core domains expertise.

Money economy here is in the substitution of FTE with software, which can save your enterprise up to 80 to 90 percent. Another point in favor of cost saving is the usage of digital automation that completely excludes the need for paperwork, which, again, can take so much time.

2. Flexibility

One of RPA’s strongest points is that it can use the same IT systems as your FTE– without the unnecessary integration with all applications. This technology can also be adjusted based on seasons, if needed.

3. Boost in employee effectiveness

With RPA, employees can focus on more important tasks rather than putting their time, for example, into the duplication of information into several databases. This is, again, thanks to the timesaving feature provided by RPA. Devoting their time to activities that are more valuable for the business, employees become more engaged in their work. What is more important, now that the minds of your staff are freed from labourious and time-consuming tasks, is that they have some space for ideas. Those great ideas are the moving force for your enterprise, and you do not want to neglect that.

4. Reliability

RPA is a robot, so it does not wear out, get tired or become unwilling to work, leave the company, or break your systems down. Moreover, it constantly records the data, making it easy to track. Also, in instances of system shutdowns or other malfunctions, RPA can recover data through its backup logs.

5. Customer satisfaction

Now that your employees are not worn out with tasks that take too much of their time, they actually can pay more attention to clients. It is not very common for a client to address a company’s support service strictly during working hours – oftentimes you can receive a call some time close to midnight or on the weekends. Nobody who is in need of help wants to be left out, so RPA allows you to spend more time on your customers, thus building more trusting and long-lasting relationships, and, of course, broadening the client base.

6. Clear governance structure

As RPA requires the same access as your FTE, it will create a need in clear definition of access rights for every application. In this way, the governance structure becomes better defined, so everyone knows their own applications.

7. Fast request processing

With RPA, clients’ requests are processed in real time; thus, the result can be seen in mere seconds. Another golden point for RPA is client request processing automation. In a case, where a client has to submit some documents for further approval, without automation, the whole process can take up to a month because documents have to be reviewed and signed, or in other ways approved by different people who, in turn, are usually busy. Hence, the process is nothing but turtlepaced. However, automating this procedure reduces the time of document processing down to a couple of days, which customers will most certainly love because no one likes waiting for long and having their time wasted.

8. Quick results

As soon as you have implemented RPA, your company will experience drastic changes in a couple of weeks and you will see a considerable progress. On average, it takes about eight weeks for us to implement an RPA project.

9. Consistency of high quality

People doing manual duplication of data in several systems tend to experience fatigue; they might forget things and allow a certain level of carelessness and mistakes. People are people, but sometimes this human factor can turn out to be catastrophic for business. This is when process automation comes to the rescue, not only because it excludes the possibility of mistakes, but also because it does not distort the data. RPA provides a consistent and precise process using one pattern to complete similar tasks. Its logic is developed by your best SMEs, and together with the RPA team, they will strive for the highest quality processes and output.

10. Better SLA analysis

With the help of a graph, RPA allows for monitoring the SLA’s current progress and issues relating to performance in order to help you understand whether or not there is any improvement to the work of your team.

Despite all the advantages of RPA, the technology is in no way designed to substitute human labor – it solely serves the purpose of facilitating and accelerating the management processes and workflow.

We believe that the future is in the unity of machine and human labor because, as effective and as fast as automation can be, it is of no use without a human touch. With the help of this technology, people will be able to devote more of their time to tasks that actually improve the quality of a company’s services and generate ideas, instead of expending their energy and potential in technicalities.

How To Have Productive Meetings In Your Early Education Company

If you’re in business, you have meetings. The key is to be focused on the important factors. Otherwise, don’t have meetings. They simply add one more thing to your and your staff’s already overloaded to do lists. It’s important to meet and manage your early education company (childcare centers, preschools, Montessori, special needs or private elementary schools) proactively. Here are a few ways to be proactive and spend your time and energy more efficiently and effectively.

1. Don’t have a standard “every Monday at 9:00 am” type of meeting. These meetings become routine very quickly. Have meetings because you need to have meetings-not because it’s 9:00am on a Monday. Set your meetings for different days and different times.

2. Don’t have a one hour meeting. If there is not enough work to fill the hour, then the meeting meanders and becomes boring for most everyone who isn’t speaking. If there is more work than will fit into the hour, then something gets left out of the conversation or details get missed.

3. If you can avoid it, don’t have the meeting in the exact same place every time. If you’re meeting with your management team, get off the campus and find a private area in a restaurant or some other venue outside of your centers or schools. If you’re meeting with your teachers, have the meeting catered.

4. Pick times during the day when your staff has a high energy level so they are more likely to contribute positively to the meeting-not at the end of the day when they just want to finish and go home.

5. Make sure to advise staff of the meeting times and places well in advance so they can be prepared.

6. Encourage your staff to bring their own questions and ideas to meetings. There is no reason to think that good ideas can only come from an owner or executive. Your teachers talk with and listen to your parents. The odds of receiving good ideas grow exponentially when you allow others to contribute.

7. Make sure you are the most well prepared person in the room when you start your meetings. Remember, your staff will follow your lead… good or bad. Never try to “wing it”. Have copies of the meeting agenda to help everyone to stay focused.

8. To determine whether you need more, fewer, longer or shorter meetings, review your meeting agenda immediately after your meeting, and determine how much was actually accomplished in the meeting.

If you follow these strategies, you’ll find that meetings will become more energetic and productive. They will be a source of creativity and problem solving. As strange or unlikely as it may seem to you right now, people will look forward to the meetings, and your company will reap the benefits.

Importance of HR Training

The HR or human relations department administers various functions inside the organization, including hiring, training, observing certain arrangements and notwithstanding dealing with a debate. Moreover, the HR division must keep organization employees updated on specific laws, for example, good, success and separation. Therefore, it is essential that all HR managers and employees get the proper training.

Significance

HR training is especially important regarding selecting, interviewing and hiring new employees. People who work in HR must be able to find the correct individuals for a wide range of employment opportunities. These people must know how to make appropriate questions, assess a job candidate’s responses and decide whether the candidate gets past the screening process.

Function

HR training is also important on the grounds that the division more often than not create leaflets on organizational arrangements. For example, HR employees must learn the company’s policy on sexual harassment, employee dating or even separation. Human resource personnel should likewise take in the different training strategies of a company, so they can set up training for new employees. Paperwork must be completed which help check whether employees are legally qualified to work. HR managers should likewise figure out how to set new employees up with email and voicemail, or how to order the employee’s PC and supplies.

Identification

The importance of HR training is additionally evident with medical advantages. Health and other advantages are regularly very broad and confusing. HR must be trained on filling out different structures, so they can educate new-procures on the paperwork. In addition, these experts must also learn how to assess different benefit programs to possibly spare the company money.

Considerations

Human resource training is also important for showing about various safety issues. Some organization employees, particularly those in industrial facilities, need to lift questions redundantly or work with unsafe substances like chemicals. The HR manager and other department personnel must take in the different safety procedures for their industry, based on rules put forward by the Occupational Safety and Health Administration. Companies can be fined or even sued for not following the proper safety procedures.

Avoidance/Solution

Human resource professionals must also be prepared to determine employee conflict. In many debates, judgement has a tendency to make issues. The human resource manager must know how to talk about issues secretly with people and go to a determination. Something else, worker clashes will cause disturbance and considerably hamper profitability.

How Your Business Can Ensure Success in the Experience Economy

Way long ago in 1998–yes, that long ago–B. Joseph Pine II and James H. Gilmore published a piece in Harvard Business Review (link at the end of this article) that the experience economy had arrived. And, sure, in 20th Century terms, it had. As they explained in their article, the progression began with families buying items, such as Betty Crocker, because there was less kitchen time to prepare the ingredients for a child’s birthday cake. Then parents started going to the bakery store to pick up cakes for their kids and no longer making the cake at home. And, eventually in the late part of the 20th Century, with more work and other demands, families started to outsource the entire birthday to soup-to-nuts groups that did everything, such as Chuck E. Cheese and the Discovery Zone.

And now we’re in the 21st Century, and experience matters even more and companies are beginning to try out different technologies, for instance, virtual reality and augmented reality. Major corporations, such as Facebook and Apple, have made substantial investments into those technologies because the future is coming quickly and I wouldn’t be surprised if in 2018 we see some other global experience, such as Pokémon Go.

Smart marketers understand that creating an experience–with technology–is essential to being able to sell a product or service in today’s world. So, how do you do it?

Customer Experience Continuum

An essential activity to create an excellent customer experience program is not only to have excellent customer service but to go further and understand what your customer experience is from start to finish. From the moment a prospect sends you an email, places a call to your office or messages you in some way, what is the experience your company provides? Understand the entirety of the customer experience from the moment they initially reach out and to what happens after the purchase.

Words Matter for Customer Experience Principles

Once you understand the experience that occurs, and more importantly what you want to make sure your leads experience, you have to ask yourself (and your team) to help you develop principles that will guide the experience from start to finish. In this case, words matter. For example, are you looking for your clients to have “fun” while they partner with you? Are you looking for “excellence in communication”? Whatever the words are that matter to you, develop principles around them and ensure everyone on your team is onboard.

Data In and What Comes Out?

When you’re talking about data, your CRM is everything. You want to make sure your CRM captures everything that is essential to know about your leads and clients. If your team isn’t inputting every touchpoint with your customers, accurately, then you’re not going to be able to anticipate their needs. Part of the customer experience is to know what your prospects and partners are going to want, even before they want it. As an example, in one of my companies, our former partners get reminders at regular intervals about scheduling their next fundraiser with us.

Provide a Sensory Experience

Everyone is used to having many experiences throughout the day. If they’re scrolling social media, your leads and clients are being “marketed” to with live streams, videos or images. Corporations are moving toward providing people virtual experiences and with technology tools. Granted, we’re in the early stages of these types of moments, but it’s already started. If you want to buy a diamond ring, you can see the ring virtually on your hand by supplying a photo. You can also see how furniture will look in your home with apps and a VR headset. Think out of the box and discover creative ways to bring your products and services to market.

Net Promoter Score (NPS)

If you’re not using it already, consider looking into your Net Promoter Score, or NPS. This measuring tool goes beyond simple customer satisfaction. The index calculation, based on the responses of your customers regarding how likely they would be to recommend you to others, helps you understand and predict future revenue growth. The best type of sales you can make are those based on the recommendations of others, particularly if you can predict revenue growth.

Humans haven’t changed since the publication by Pine and Gilmore in the HBR article. The only thing that has changed significantly is how technology has transformed our lives and the world writ large. Humans, however, have always wanted the same thing in a product or service. Consumers want the experience they have with your business to match the expectations they had in their mind when they first inquired about your product or service.

Strategic Management for Business Development

A correct strategy can simplify the complexity of business equations. When you work on a pre-planned strategy, you stay more confident and organize while performing any task. This assures that you can meet your target in the desired time limit.

Before digging the advanced bricks in it, let us first understand what exactly strategic management is all about.

Strategic management is based upon analyzing the major initiatives taken by the top brass of the company on behalf of its owners. The professionals practicing strategic management have their involvement into resources and internal & external company matters. It entails specifying the following major aspects related to the company-

1. Organization’s mission,
2. Vision
3. Objectives, developing policies and plans, usually in terms of projects and programs, which are designed to achieve these objectives, and
4. Allocation of resources to implement the policies and plans, projects and programs.

Importance of Strategic Management in business –
• Strategic management helps you to identify the potential of each individual in the organization, so that, you can help them in improving and bring out the best in them to benefit the organization. With this, the level of alertness among the employees increases ensuring fast and effective completion of the objectives or targets.
• It determines the long run performance of the organization by keeping a check on the internal and external elements to affect the growth of the organization.
• It makes you a pro in utilizing limited resources to their maximum efficiency and make maximum profit out of them to increase the profitability of your business.

Approaches to Strategic management –
Approaches to strategic management can be classified into following three major categories –
1. Bottom-up
2. Top-down
3. Collaborative

• In the bottom-up approach, employees submit proposals to their managers who funnel the best ideas up the ladder. It’s usually a part of capital budgeting procedure, in which, proposals are based upon financial benefits. Hence, approved proposals under this kind of management form the substance of the business strategy.
• The top-down approach is widely popular and practiced so far. In this, the top brass of the company, the CEO and the Board of Directors take decisions regarding the growth direction for the company. The strategy flows down and each employee works on the same.
• There is a third method of strategy formation which is collaborative techniques. It generates new ideas in the process leveraging advances in information technology. Collaborative management believes in common goals between management and employees and emphasizes the use of knowledge management systems to share information and create common goals.

Recent trends in Strategic management –
Currently, two management theories are greatly being practiced all across the globe-
1. Theory Z management (Ouchi’s Theory)
2. Achieving Excellence

• The Theory Z management is created by a careful analysis of the success of Japanese Organizations. The theory is widely being practiced in the world everywhere. Z. Ouchi’s theory is based upon seven parameters related to employees, evaluation, responsibilities and control mechanism etc. These parameters also define the basic principle differences between Japanese and American Companies.
• Achieving Excellence is a theory which is developed by Peter and Waterman depending upon eight basic principles of excellent companies, which lays emphasis on the value system, action-driven working, simple structure and lean staff etc.

Future of strategic management –

Strategies play a pivotal role in taking an organization ahead. Strategic management becomes a serious concern for companies in an increasingly competitive environment. It broadens the horizon of imagination and innovation for an organization and makes it stand unique with respect to work, services, and performance. No doubt strategic management secures a great future in the rapidly advancing scenario. Companies are always in dire need of creative minds to draft the blueprint for success to them.

To give a boost to your career or business with the recent and updated techniques of strategy formation, join our strategic management course at iACT Global, one of India’s leading online education provider to the working professionals.