As the 21st century progresses, what do contemporary businesses actively seek?
The new currency of this digital age is information.
Meaning, knowledge-based businesses such as consultancy, coaching, mentoring, as well as research and development have become a lucrative industry worth an excess of two-billion-dollars.
With content being king and information the new currency, ventures such as coaching has quickly become a most sought out after service and career.
Coaching is a proactive role where athletes, business professionals, students or other individuals sharpen their new and existing skills. Coaches operate in multiple capacities and can be classified differently.
What are the different types of Coaching
- Business Coaches
These coaches assist CEOs, executives and other professionals in upgrading their competencies to meet sales targets, achieve market growth, manage competition, increase business output and maintain low costs. They may also work with their clients to improve sales pitches, manage conflicts and mental or emotional stresses that accompany running a business organisation.
- Leadership Coaches
These coaches work with clients who have assumed a new leadership role in their company or community and need to develop the capabilities to command respect as a leader, inspire their followers to act and achieve their overall objectives. Leadership coaches often build public speaking skills, communication as well as confidence.
- Career Coaches
Whether it be university graduates stepping into the working world, or employees seeking to switch careers, these coaches analyse the job market, what skills are in demand and how to acquire them. Career coaches also provide interview practice and tips, resume writing, job searching techniques as well as onboarding services.
- Relationship Coaches
Relationship coaches work towards improving the interactions between spouses, families, and even work in business environments to resolve issues between business partners.
- Lifestyle Coaches
These individuals assist clients who may have suffered certain setbacks in life such as job termination, divorce, addiction, legal issues or other trauma and are seeking to regain a sense of direction and balance in their lives. Lifestyle coaches can also work with persons who may want to just maintain a sense of order and productivity.
- Performance Coaches
All coaches aim to improve performance, but these coaches help their clients to upgrade their physical and mental prowess for specific goals or events. Actors often work with dialect coaches when preparing for a certain role. Sport professionals work with coaches to improve their physique, speed, strength, agility, flexibility or endurance for specific sporting events or competitions.
What are the Purposes and Benefits of Coaching?
Coaching is multi-dimensional, and encourages improvement of physical, mental, emotional and spiritual states. There are various benefits clients are seeking from their coaches:
- Improved performance
Coaching cultivates a mindset where excellence is the new norm. Working with coaches has enabled individuals in multiple disciplines to exceed expectations. Coaches identify what success means to that individual and determine specific goals to achieve that.
- Personal and professional development
Life is not always easy, and in some instances, coaching allows individuals to break free of their comfort zones and self-limitations. In doing so, clients would recognise their skills, motivation and overall wellbeing increasing.
- Self-awareness and confidence
Coaches enable people to push their boundaries which boosts self-esteem and confidence by achieving things they may have previously thought impossible.
- A greater quality of life
Acquiring new skills and improving your talents can bring immense job satisfaction, stress management and overall contentment. Coaches identify and discover your best, which leaves you feeling the same way.
- Success
Whatever your definition of success is – improved health, achieving organisational goals, building your business brand, spending more time with family, financial freedom or a sense of wellbeing, coaches can set you on the path towards your success.
What are the Differences between Coaching and Mentoring?
Two knowledge-based services – coaching and mentoring – involve gearing individuals towards success. However, these two disciplines can hardly be considered as substitutes for each other.
- Objectives
Coaches work to upgrade their client’s skills to achieve a specific purpose, target or outcome. Mentors are more concerned with broadening a client’s perspective as well as personal development.
- Time Factors
Coaching is a practical, proactive process. A coach challenges a client to maximise their competence for a specific period. Some individuals retain coaches for years, but mentorship usually involves a program spanning longer time periods. Mentors are usually seasoned experts with experience and knowledge in the industry of the person they are mentoring. Like coaches, they also seek development, but more focused on personal growth. Their focus is not on a specific event. They seek to develop individuals to attain long-term goals by advising, teaching and training methods.
- Dynamics
A coach’s role is not to give advice to a great extent, but to extract the knowledge and skills out from you. Coaches believe that you have the skills and abilities. They identify your starting point, and work to elevate you to a higher level. Their process draws out your capabilities, and challenges you to improve it. Mentors give advice. They are the competent. The knowledge you need is within them. They share information, allowing you to absorb their insights, to upgrade your intelligence.
- Structure
Coaches may operate in a formalised environment that is conducive to the subject matter you are being coached in. For example, business coaches collaborate with you in an office, fitness coaches may work with you in a gym or sporting arena. Career coaches can be found in universities. Mentorship follows a less formal approach. Mentors may meet you after working hours, in a café or casual setting. Mentorship can also be done via telephone, video conferencing or social media.
- Relationship
The relationship with coaches and mentors is different. Usually, coaches are assigned, although they can be chosen based on an individual’s need to achieve a short-term goal. Coaches function as private businesses, so they are usually compensated for their services. Mentors are selected by mentees based on their knowledge and expertise. In a lot of cases, mentorships tend to be on a volunteer basis. Mentorship programs usually facilitate the sharing of information, so it’s quite common for mentors to learn from their mentees as well. Relationships with coaches tend to be a little more authoritative.
Ultimately, both coaches and mentors seek professional and personal improvement for people. Whether you have chosen a coach or mentor, depending on your goal, the knowledge industry is rapidly giving rise to pertinent information sharing and organisational improvement. As the 21st century advances, it can be predicted that only those who seek consistent development may thrive in an increasingly competitive environment.
