5 Reasons Why You Need An Executive Coach

Many of the top CEOs in major global brands have an executive coach on retainer, but small businesses leaders can also benefit from this type of expertise. On average, one of the primary reasons many small businesses do not hire a coach is because of the expense, even though it would make sense for their group. Granted, executive coaches can be a significant expense, charging rates from $300, $1,000 or even $3,000 or more for one session.

Because the business world is now moving at an incredible pace with minimal margin for staying ahead on the competition as new ways of doing business and disruption are now baked into our collective DNA, an executive coach can be a great benefit to your company.

Exploring Ideas: Business coaches have experience across a broad swath of clients, and they bring that experience to their work with you. One of the top benefits of a business coach is the chance to have someone that is unbiased and outside of your organization help you think through new ideas and strategies. In the process of your speaking to a coach about thoughts that you’re thinking, a good coach will ask you questions that will test your thinking and in the process give you more insight.

Leadership Effectiveness: An executive coach can do something that probably no one on your small business team will do–give you feedback. Sometimes business owners have a trusted executive that works with them that will challenge their skills and effectiveness. But, more often than not, that is not the case. A small business owner can easily be in an environment where few people, if any, will inform the leader about how he’s doing. An executive coach is someone that will not have any doubts helping you understand the “why” of decisions and courses of action you’ve taken. In the process, this will help you understand and gain insight into your own management and leadership.

Accountability: The reality is that a small business owner has his or her little fiefdom. Larger corporations have their boards to hold them accountable, but who does a small marketing or retail shop have to hold them accountable? The answer is usually no one. If you’ve meant to update your operating bylaws, launch a new marketing campaign, or figure out how to develop team members, a coach will hold you accountable. It will be this person’s job to check in with you on the goals you’re putting forward for your company.

Measurement: Typically, when you sit for your initial conversations with an executive coach, this professional will ask you about your goals for the process. Out of those goals will come ways to ensure that the goals are accomplished, and usually these goals are tied to making your business performance and leadership better. An executive coach will help you get better at measuring the success of your business because he will be working with you on core issues related to your company, which will come from the goals you prioritize.

Improved Decision Making: One of the significant benefits of executive coaching is that with the live sounding board, in the form of a coach, you’ll have an opportunity to test out ideas and thinking. A good coach will always push you by asking you questions that will help draw out and clarify your thinking. In turn, this process will help you improve your decision-making process because the decisions you will be making will have been thought through with much more rigor. Your choices will become better, and the process of how you get to decisions will become even more thoughtful and rigorous.
Sometimes executive coaches are brought on board for a specific laser reason, but lots of times they are hired because business leaders can benefit from working anywhere from three months to a year with someone helping them develop and improve. If you haven’t thought about an executive coach, it might be something to consider. If you think the price is a factor, it’s only a matter of priorities.

Will China Replace the USA As the New Superpower?

China Socialist Empire has grown enormously strong since 1949 and many are wondering if this mighty economic giant will surpass the United State in the near future.

The rise of China economy is startling, consider that China hold the number three spot in power on the world stage next to Russia, which include the number one ranking GDP, which has surpassed the United State plus its transparency and influences are increasing, therefore, it is impossible not to be aware of its presence. Furthermore, the Yuan has become the third reserve currency next to the US Dollar and Euro.

The Chinese Yuan is as a strong contender against the US Dollar since they want to enforce more control over their economy, there is a push to make sure that their system of money become globally accepted. This drive may be to cement itself, as the best replacement of the US Dollar as the universal currency. The recent news that Venezuela is now selling oil for the Yuan instead of the US Dollars doesn’t sound so good, plus rogue countries that are suffering under a sanction imposed by the west are using the Yuan as a tool for survival. Furthermore, the number of countries with close ties to China have been conducting their trade and investment under the radar with the Yuan, they are Russia, Germany, Sweden, Malaysia, Australia, Indonesia and Canada.

Today 1.3 billion citizens of China are experiencing a better standard of living and many have risen to prominent status, recognition, and power. Its strong growth has increased the number of self-made High Net Worth Individuals and they have overtaken the United State with the most Billionaires at 637 to the United State 342. Their Diplomatic Public Relation skills that are utilized seem to have made a big impact with other countries far and wide, which has made it become one of the most favorable country today.

Meanwhile the United State seems to resemble a shadow of its former self, even though it still wield external economic and military might, however, its influence and respect seem to have gone warm and its image has suffered a steep decline among its allies, plus its favorites is at all-time low in countries such as Africa, Asia, Europe, Latin America, and North America. The American Dream appears to be fading due to the decline of the economy, and its prospect become difficult for the youth of today to access a better standard of living than their parents of former days, according to an article published in Eureka Alert, by the America Association for the Advancement of Science. Meanwhile the Pew Research Center, state that, there are few adults in the middle and upper-income bracket, but there are more occupying the lower class.

Today international investors are becoming more concerned about where they place their investments.

They observe that Washington has not yet passed a budget, nor enforce credible action to pay down their creditors’ bills. Which is viewed as an unsafe heaven for investment and that is not good. Lately, the United State has been conducting financial sleight of hand by moving money around in order to ensure that they do not run out of cash. They have borrowed approximately $19.8 trillion, where one third of this amount is owing to itself, $6 Trillion from Major Foreign Holder of Treasury Securities, which include foreign countries, companies and individuals, $1.1 Trillion is owed to China and the same amount to Japan plus the balance of US citizens and business include local and state Government. It’s still an amazement to see that the International Credit Rating Agencies, Moody and Fitch gave the United State as three “A’s” credit rating, while S&P gave an AA+.

Moody the International Credit Rating Agency has downgraded China credit rating to A1 for the first time in three decades, this is seen as a setback and this action has angered them, meanwhile S&P and Fitch rated China A+. China economy has surged up for the past 18 years but seem to be cooling down slightly, but in spite of all this, it is still seen as a favorite place for investment than the United State include most countries today.The economic outlook for China remain stable for 2018.

Recent news coming out of China, state that during 2018, there will be a move to ensure that a more sustainable and in-depth way is utilized in order to increase high-quality development that will enrich global prospect, according to the Chinese President at a high profile meeting. This move will be enforced to transform in a more intensive way in order to deliver more prosperity for both China and aboard. This is the news investors love to hear.

Prospecting Made Easy

Today’s message is very short and sweet… well maybe not so sweet but short for sure… and hopefully helpful to you.

We’ve all felt the frustrations of trying to get good clients. Heck, trying to get new clients period can be a real challenge.

So today I wanted to share a few ideas that have worked for me…

Start by making a list of who you’d like to work with. Think: “Who’s my perfect prospect?” If you could hand pick any client, who’d that be?

This could be connections from a past job, or business associates that you know and who like and trust you or a vendor who you’ve done business with in the past. As a last resort you could put together a “cold list” of prospects.

Study that target market intensely and find out what problems they’re dealing with today, who are they (male, female), how old they are, what magazines they read etc.

Learn all you can about your perfect prospect and the marketplace in general. This is a critical step. This is very important step and should done before you start your marketing message. I know that I’ve talked about this many times, but it’s super important.

Once you have a target group in mind, create a mailing list. You’re going to be sending them numerous messages, offers, and various messages over and over until they become clients, so I suggest that you put these names in a program like Excel so you can keep up with them easily.

Study the competition and learn what they’re doing what offers they’re sending out, go to their websites, landing pages, and direct mail etc. This way you can position your business uniquely.

Once you feel you have enough “intel”, create a lead generation letter and send it to your prospect list.

It’s going to take more than one letter. I like using a letter series sent over a couple of weeks. Sure, you can sometimes close the deal on a single letter but it’s very unlikely. The power in direct mail is by mailing several letters not just one.

So, don’t be discouraged if you don’t get a response on the first letter you sent. This is typical. Again, the power of a letter series goes a long way to landing that client.

You got to remember, people are busy, they are preoccupied, and flooded with lots of distractions, junk mail, and advertising messages in today’s super-busy world.

Lastly, I encourage you to study the masters. Learn all you can about your craft. If you can afford a mentor, then by all means hire one. A good mentor will save you tons of money, time and frustrations. It’s as good as money in the bank… provided you follow through and act on what you’ve learned.