In the sixteenth century, the Mughal emperor Akbar relied heavily on the advice of Bairam Khan, known as the guide cum counselor of the nascent emperor. Just like the famous prime minister, today’s entrepreneurs also have their own guide cum counselors. But these advisers are not bound by the pledge to serve the empire, they are expert in executive coaching and earn up to $4000 per hour.
To understand why they are so important, Stanford University conducted a survey of 200 leading executive coaches and invited seven experts to comment on the findings. The results were surprising. Ten years ago, if any executive were to hire an executive coach, it would be seen as a sign of incompetence. But with the global economic slowdown, fewer people still see it in this manner. Besides, as the business world comes to know about how many companies are making unexpected gains, more and more organizations are turning to coaches to lead their way to success.
In a nutshell, the aim of executive coaching is to support the management of the company in making decisions, establishing goals and paving the way towards excellence. However, it may be important to you to hire a coach who has some experience in your field of industry, but it is not absolutely necessary to do so.
An executive coach helps to relieve burden taken on by all the executives and their management teams. Management employees are highly experienced and skilled with their job, but they may not be vigorous when it comes to specific needs and requirements. A lot of companies failed just because they relied too heavily on the abilities of their executives.
There may be many among the workforce of a company who feel that they have lost their business and executive skills and after so many years of business, may feel that they have reached their end. These can be the executives, Information Technology experts, marketing experts and even members of the board of directors. It can be very painful to think that you are stuck at one place and have nowhere to go.
However, with expert business coaching, you can revive your soulless team and make surprising financial gains. You can even learn to find new opportunities yourself rather than relying on your team to make the decisions for you. A business coach is a counselor cum consultant who can help you regain initiative – slowly and steadily – until you feel confident enough to take the ball and play with it.
A coach come into your professional life looking from the different angle rather than where you have been looking at the things for months. But that doesn’t mean that they don’t understand your problems. The purpose of a professional executive coach is to take care of the both sides of the coin and help you develop your ability, thereby pulling you out of sloth and make you more energetic.
So if you can’t see your life or business going in any direction or your income has become stagnant or has been reduced, you need an executive coach.