6 Ways Executive Coaching Can Help Business Owners Handle a Crisis

With economies still reeling from the global health crisis, business owners need to step up to protect their ventures. This means managing your finances efficiently, using all available resources effectively, looking after your employees, and continuing to go over the other operations unaffected by the pandemic.

As a business owner, you also have to start making changes in your company to accommodate the “new normal.”

With more responsibilities to juggle during a crisis, you will definitely experience some difficulties handling all of them. But with all the hard work and investment you put into your business, and as the leader your employees look up to, you can’t afford to be overwhelmed by these challenges.

Relying on the right employees can allow you to manage these challenges efficiently. Also, joining the right executive coaching training program can help you deal with a crisis in various ways.

By working with a qualified coach, you will be able to:

1. Find clarity

Facing a crisis means knowing and dealing with numerous crucial details. Some require your immediate attention, while others do not.

With all the information at hand and your stress levels higher than usual, you may find it difficult to prioritize and focus on the more important tasks and goals.

An executive coach can assist you in finding clarity so that you can stay focused on achieving both your short- and long-term goals. With this higher level of clarity and focus, you will be able to make smarter decisions and learn to prioritize better. 

You will also be able to filter out all the information you come across more effectively, thereby allowing you to make better use of your time.

2. Prioritize effectively

Once you have a better picture of the issues you are dealing with, you can also ask your coach to help you identify what steps and actions you should take first to protect your business during the crisis.

Your coach can guide you as you create a to-do list of things you have to prioritize during these troublesome times.

Although this may seem like a simple thing to do, you need to work on this process carefully. This is because organizing what needs to be done (and when, and by whom) correctly can affect various operations of your business during and after the crisis.

Additionally, you can explore with your coach various strategies that can allow you to deal with issues that require your immediate action.

With the guidance of your coach, you can also decide on the actions to take that can support the continuity of your business and put your organization in a better position once the crisis is over. 

3. Develop flexibility

Changes always come hand in hand with a crisis; as such, you have to be prepared to deal with them during and after the predicament.

Dealing with these changes means doing simple things such as modifying employee schedules and reorganizing teams or more complicated ones like cutting down on expenses or laying off workers.

Your executive coach can help build your skills to handle all these changes effectively.

Aside from assisting you in achieving clarity during times of turmoil, your coach can teach you how to remain calm as you go through or make these changes.

Moreover, he or she can help you develop an open mind as you make decisions so that every step you take protects your organization and enables you to stay aligned with all your goals. 

4. Communicate well with others

Communication is crucial for any business. It allows employees to work efficiently and companies to boost their sales.

In times of crisis, communication becomes doubly important. Your employees need to know what is happening in your company and the steps you are taking to protect them. Your customers should also be aware of everything that concerns them and their dealings with you.

Creating a communication plan ensures no one is kept in the dark and that everyone gets the right facts.

Working with your coach to create a plan or asking him or her to review it enables you to have one that works for your company during the crisis. It should cover internal and external communication, strategies, platforms, frequency, and specific responsibilities of employees involved so that everyone is well-informed and up to date. 

5. Boost productivity

During a global crisis, everyone can feel nervous, stressed out, and uncertain about the current situation and their future. Your employees won’t be immune to these emotions, which can affect their performance and productivity.

Unfortunately, you won’t be able to control their emotions, which means you may have to deal with low morale and productivity.

However, it doesn’t mean you simply let your employees wallow in their fears and emotions. With the help of your coach, you can still get the most from your team by redirecting their energy.

Being honest is a strategy that can help boost the morale of your employees and maintain their productivity. Be real about your feelings and circumstances, and speak openly about what is going on in and outside the company and the steps you are taking to protect everyone.

Remind your employees that your workplace is a safe space where they can share their thoughts and experiences with you openly as well. This simple strategy assures your team that they have someone they can turn to when things get too rough for them.

These strategies give your employees the motivation they need to continue being productive and efficient.

6. Control your emotions

Lastly, although you may also be nervous and uncertain about the future, you can’t let your employees see that you are overwhelmed by these emotions. If you do, you will heighten their fears and get them panicking.

As a leader, you need to look and act professionally at all times. Executive coaching guides you through the inner work you may need to do to build the courage and confidence you can show employees, which they may emulate.

However, your team does not need a cold and stoic leader right now. Your coach can also train you to engage with your employees and other people professionally, yet with the right amount of authenticity, honesty, and openness.

The right coaching program can also help you control your emotions, especially when things get too tough. Moreover, your coach will listen to you when you need someone to talk to about your feelings.

It can be tough being a business owner and leader during these tough times. But with the right people around you, you can deal with the negative effects of the crisis, protect your company, and emerge strong once the market stabilizes again.

AUTHOR BIO:

Salma El-Shurafa is an experienced Executive Coach and founder of The Pathway Project . She is a Professional Certified Coach by the International Coaching Federation (ICF), a Certified Professional Co-Active Coach from The Coaches Training Institute (CTI) and a graduate of CTI’s Co-Active Leadership program.

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