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Entrepreneurship

Executive Coaching [Video]

Executive Coaching

Executive coaching is a development process between a coach and a management-level client to help achieve goals related to professional development and/or business performance. In the past, business psychologists were typically hired as outside coaches to help managers become more effective leaders. Today, people from a wide variety of backgrounds become executive coaches, as well as career coaches and life coaches. Many executive coaches are former executives themselves.

Executive coaches help managers become more effective leaders by helping them in a variety of ways, depending on the need of the manager and the skills of the coach. The coach works as an adviser about behavior but does not explicitly help the leader with functional details of the job, such as how to develop a new product strategy or design an organization. The leader/manager’s employer usually hires the executive coach. The purpose of engaging the coach could be to accelerate the development of a star player or assist an executive who is having soft-skill problems.

A refinement of individual coaching is for the coach to work with both the individual and his or her work associates. The coach solicits feedback from the group members and involves them in helping the manager improve.

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Entrepreneurship

Starting a Business [Video]

Starting a business can be one the most exciting things you'll do in life. It can also be the scariest. According to the latest statistics on the percentage of businesses that fail in the United States, we see that of the 678,135 new businesses that were started in 2015, more than one-fifth (20.4 percent) closed after their first year in operation.The percentage of businesses that fail increases to 30.9 percent in the second year and 38.6 percent in the third year. By the fifth year in 2020, the new business failure rate reaches 50.0 percent. Needless to say, it's hard! The ones that succeed do so not only because they work hard and get lucky. These entrepreneurs spend an immense amount of time creating a plan and execution strategy. It takes a lot of discipline to overcome the challenges. In this episode I'll discuss the basic questions you want to ask yourself when starting a business.