Brian Epstein is a business coach in Toronto and has helped many entrepreneurs and small businesses get to the next level. Many businesses, large and small, are based in Canada’s largest city. Read more to find out why he recommends that all business owners and executives use a business coach to increase their likelihood of success.
Why do executives and entrepreneurs needs a business coach in Toronto?
A common trait among the most successful people in business is that they recognize that they are not perfect. No matter the level of success that they reached in their careers and how profitable their companies have become, they acknowledge that they can be better leaders. They know that there are always opportunities to improve their businesses and achieve greater profitability.
That is why the very best leaders in the industry see the value of what a business coach in Toronto can do for them. Successful business leaders, such as Bill Gates, Mark Zuckerberg and the late Steve Jobs, have relied heavily on the support of multiple coaches and mentors to give feedback and objective advice. This support makes business leaders accountable leaders and helps them achieve their goals. Often successful business leaders refer to their coaches and mentors, as their own personal “Board of Directors”.
Why are more business leaders use coaching today?
In recent years, Canadian business has been thriving. The nation is fast becoming a global leader in a variety of business sectors. However, with rapid changes in the Canadian and world economy, many senior executives fear that there may be an impending leadership crisis.
The job of making high level decisions in a business organization has never been more challenging and stressful. Shifts in the market are happening very quickly and everything has become more complex. In today’s business climate, business owners and leaders are under enormous stress as they deal with the pandemic. The fast-paced evolution of information technology, the fickleness of a very youthful workforce, and the financial commitments that face leaders and their organizations, add to the stress and increased legal scrutiny that organizations endure.
Business leaders who feel that they can fly solo and handle their commitments without the support of others, will often quickly burn out. Chronic job burnout leads to high-levels of emotional, mental and physical exhaustion and impact their behavior at work in a significant way. Burnout across executive and senior management may cause issues for any business that relies heavily on the competence of their top executives.
More and more entrepreneurs and executives are working with a business coach in Toronto to help them have effective leadership skills and optimal performance. In the small business sector alone, a recent joint study by Infusionsoft, a leading vendor of sales and marketing software to small and mid-sized businesses) and Emergent Research (a research facility and consulting firm also focused on small businesses), revealed that owners of startups and small businesses are increasingly using coaches for overcoming challenges. The study “Defining and Achieving Small Business Success,“ reported that almost all respondents admit to using one or more coaching resources to help them overcome their business and personal challenges.
How can a Business Coach help you?
Business coaches have become an integral part of Canada’s business sector by playing a key role in providing business with support to leaders and their teams. This two-way relationship between executive and coach can offer many benefits no matter what stage their business may be in.
Business and Executive Coaches Can:
Provide education and training to help executives and their employees improve, overcome challenges, learn new skills and deal with complexity.
Provide the outside perspective you need to help you think outside of the box so you can keep on bringing in fresh ideas that will increase profitability.
Identify blind spots and roadblocks and hold you accountable in achieving your goals. You will be tasked to go beyond your comfort zone.
Provide guidance when you are feeling really “stuck” and having trouble in moving forward. This guidance can help you to connect the dots and go from point A to point B to get to the next level in your business.
Provide objective assessment and observations to help you enhance your self-awareness and build relationships with others. They can help you work in developing self-mastery in professional relationship management and communication skills. They can help you create a more healthy and productive work environment, which will enhance the productivity of your employees.
Help you identify and learn new and innovative techniques to stay abreast of the latest trends.
Provide training and education to develop both executives and promising up-and-comers, to build future leaders and prevent turnover.
Provide advice to help you re-evaluate priorities, take stock of what is really important and decide what actions to focus on as you reach a new level of success.
In a report by the market research firm IBISWorld, business owner Noel Theodosiou describes how a professional Business Coach has helped her performance and growth over the years, “I would attribute a lot of my success to the way that coaching has changed my perspective and made some things easier and made me prioritize my emotional energy and my time.”
Do companies and executives get value from business coaches?
Engaging the services of a business coach in Toronto, can prove to be a worthwhile investment. In a report by Canadian research firm IBISWorld published in July 2017, the demand for business coaching in corporate Canada has grown over the past five years – it is expected to continue to grow in the next five years as conditions for business improve. Updated data shows that the increased demand business coaches, comes from senior executives and management.
This rising demand simply shows that business coaching does work and can help business owners and executives get better results. The connection is simple:
Business Coach = Business Owner / Leader Efficiency = Business Profitability
The job of an entrepreneur, CEO or other high performing individuals, in a fast-paced environment, is very unique. The position requires more than simply “calling the shots.”
These leaders must have a thick skin, take criticism well and not be easily upset or insulted. They must be able to accept quality feedback to ensure that their business reach its objectives.
Another important trait that managers and executives need, is to be able to make empowered decisions. Leaders a are often the final decision makers, therefore it is important to react to market conditions swiftly and to make sure that those decisions are aligned with the business’s mission, vision, values, and goals.
So how can a Business Coach in Toronto support and Corporate Leaders and Business Owners?
Business coaches can help executives be more effective in developing the skills and competencies they need to ensure that they have the ability to address the challenges and opportunities that come with their jobs.
Many businesses and organizations across Toronto are now making business coaching a core part of their leadership development programs. The key decision makers use business coaching as a tool to develop current and future leaders. This is because coaching focuses on the development of skills and their application for better results.
Hiring a business coach is an investment that will continue to yield a return on investment for many years. According to an ICF Global Coaching Client Study, ROI for business coaching is very high – usually as high as a six-fold return in the form of improved work performance and productivity, as well as improved business management and team effectiveness.
Regardless if you are a small business owner or a top executive in one of the Fortune Global 500 Canada Companies, it is important to use the services of coach to develop the planning, time management and decision making competencies of business leaders and managers.
Now that you have taken the time to read this article, I hope your ready to take your business to the next level by utilizing a leading business coach. I encourage you to take the first step and set up a 30-minute call. Your success is just a call away.
TO learn more, book an appointment with brian now!
Summer is here and many of us are enjoying the sunny weather. It’s time to relax and enjoy for sure. Just because it’s the summer, though, you can’t completely forget about work. If you are searching for new opportunities, you still need to do career research and planning. The time for your job search is now.
People often tell me that they will apply for jobs in the fall. They often ask, why look for a new job in the summer, when the fall is when employers do their hiring?
I often respond by paraphrasing my grandfather, who was a successful businessman in Nova Scotia – “What you plant today, will be part of your harvest tomorrow.”
As with anything else, there is a lead up and planning time to secure work in your chosen field. Statistics show (depending upon what web site you are on), that 70 to 90 percent of job seekers find work by building and growing their professional network. Summertime is a great time to reach out to your personal contacts. Take this time to set up coffee meetings with employers and company representatives. Moreover, this is the time of the year, in many organizations, where the pace is slower. Leaders and Managers are using this time to develop their financial and marketing plans for the fall and winter.
This summer slow down may be the perfect opportunity for job seekers to learn more about various industries and organizations and where you may fit. I suggest that you use this time to have introductory and information meetings with employers and people of influence. They may consider you for upcoming jobs or refer you for roles in other organizations. Summer may be the a very good time to look as employers are receptive to meet and grow their professional networks – and possibly hire.
Over the years, I have worked with many project managers as their career coach. The key 5 components for project manager were shared with me by several project managers when I worked at a recent Toronto Chapter Career Day Event. Subsequent coaching meetings with PMI Association members have emphasized the 5 project management components that lead to the successful end of a project.
Whether a project manager is managing a large IT project, a construction project or a job search, similar steps are required for the end goal. As project managers, you must see projects from conception to initiation to completion. With a job search must:
1) conceptualize the job that you are searching for,
2) develop a plan of action,
3) begin and conduct the actual work search,
4) manage the daily search and
5) evaluate the progress of the search on an ongoing basis.
Keep some of your training in mind, when you set out to manage your new project – a successful job search.
1. Project conception and initiation
To start a job search, it is critical to do an assessment of your skills and experience. What have you accomplished in your career and what are your immediate and future goals? Consider what you have achieved, both academically and professionally. Evaluate the career path that you have taken so far. Think about where would you like to go in terms of your career? Consider what is important to you when you conduct your work search. Think about your values, interests, motivations, salary expectations and preferred location. What size of an organization are you interested in working for?
2. Project management definition and planning
Now is the time to plan your job search project. Chart your plan of action that you will require to reach your goal. What timelines have you set for your work search? What research will you need to do? Will you need to meet people in your field – past employers, members of associations and networking groups? What information will you need to research to become more knowledgeable about your field of interest, the work outlook and the demands of employers? Which organizations are hiring and what will you need to do to effectively market yourself?
3. Project launch or execution
How many people will you meet every week in your job search? The recommendations are that expanding your professional network while maintaining contact with people in your existing network, are key to conducting an effective work search. Depending upon what statistics you read, between 70-90% of people looking for new jobs, succeed by tapping into their network. Plan your time accordingly.
With that in mind, how much of your work search time will you focus on building and growing your network – both online and in person? All avenues should be used for your work search including job boards and company postings. Make sure that your resume markets your key achievements and results according to what the post requires. Have you test marketed your resume and cover letter with people in your professional network? Do you have success stories that you can share in upcoming job interviews?
4. Project performance and control
Like any project, compare the status of your plan with the schedule that you set out for your work search. Track your work search process to this point. Are you on schedule? Is your resume performing to the expectations of employers for specific jobs? How is your confidence? Is there anything that you can do accelerate the progress of your work search? How many resumes have you sent out?
5. Project management completion
So your project has been a success and you have accomplished what you set out to do. You have found and secured work in your desired field. How would you evaluate your overall job search? How did you perform in your job interviews? What could you do differently?
After all search project tasks have been completed, you can evaluate the highlights and success of your work search project. Like any project, you can learn what you have done well and what you would like to improve – after the project is completed and you have secured your new work role.
Seven key skills that staffers bring in the aftermath of an election.
In a few days, there will be an election in the Province of Ontario. As Kathleen Wynne conceded over the weekend, that means there will soon be hundreds of Liberal political staffers, and a few MPPs, looking for work. That is part of the real aftermath of an election.
Now, if you’re not a fan of the Ontario Liberal government — and not a lot of people are right now — you’re probably not going to lose a lot of sleep if they’re voted out of office. If you’re a Liberal political staffer, you’ve probably already lost sleep — and you’re about to lose a lot more as you try to figure out what to do next. But, if you’re an employer, you should probably be excited because a lot of talented people are going to be available for hire soon.
That’s because political staffers come with a skill set that are valuable to companies and leaders. Unlike officials in the bureaucracy, political staffers don’t have job security. Rather, they serve a minister or premier and get fired when their party loses an election. After an election loss, these highly skilled people all hit the workforce at the same time creating a temporary smorgasbord of talent.
While private sector employers may not be aware of the qualities that political staffers bring, they are incredibly valuable. They include:
When your job depends on the government being re-elected, you have a built-in incentive to work as hard as possible to help your party succeed at the polls. Political staffers are used to working long hours and being on call — and doing whatever it takes to get the job done.
Communications skills:
Politics is one of the biggest employers and incubators of communications talent. Again, when your job depends on persuading people, you get pretty good at crafting a message, managing issues and dealing with the media.
Analysis:
Every day, even very junior political staffers give advice or make decisions involving millions of taxpayer dollars. To do this properly, staff need to be able to analyze the risks and rewards of a project from all sides. As a result, people who have made a career in politics usually have excellent decision-making skills.
Flexibility and adaptability:
Consider all the government portfolios – education, health care, infrastructure, transportation, natural resources, environments Each of these has its own dedicated ministry. Most political staffers have worked for multiple ministries, meaning they can quickly adapt to new files, people and new projects.
Fearlessness:
Immediately, political staffers are thrown into morning briefing meetings with government ministers and senior leaders. This can include the premier or prime minster. Even the most junior staffer has a lot of experience dealing with big personalities and high-stakes meetings. Policy staff, in particular, are used to high-level meetings with companies, governments and other stakeholders.
Networks:
Though you might think it was more advantageous to hire staff from the current governing party, it is even smarter to hire staff from a party just out of power. In Ontario, where one party has been in charge for 15 years, staff turnover has meant that many former staffers now have key and senior positions in organizations all over Ontario. These people — thousands of them — are all connected through LinkedIn and Facebook. This massive and very loyal network can be helpful when you’re looking for a vendor or a contact or information about an issue — and they all have relationships with senior government bureaucrats.
In the next few weeks, when these talented people hit the market, some private sector employers will gloss over their resumes, thinking that they’re typical “government” workers. But that’s a mistake your competitors are going take advantage of. Bankers – take a good look at Finance ministry staff. Corporations and startups – kick the tires on some Economic Development staff. Run a clean-tech company? Environment staff. Universities? Education staff. And on and on it goes.
