Executive Coaching Introduction
Executive Coaching – An Introduction
Nearly 40% of CEOs fail outright within the first 18 months, most of it because of lack leadership skills!
Being a leader can be difficult, almost always.
In the current times – with constantly changing market dynamics, cut-throat competition and stringent compliance measures to just name a few – it can get very difficult for CEOs and business leaders to manage the corporate affairs. CEOs play a key role in the way an organization is to be nurtured and taken forward. It a tough role to play and CEOs need support.
Why do CEOs fail sometimes?
It isn’t lack of knowledge, competence and experience that compels CEOs to fail – most CEOs have all of these. In the well-researched book ‘’Why CEOs Fail’’, authors David Dotlich and Peter C. Cairo state that CEOs fail due to hubris, ego, low emotional quotient (EQ) and lack of self-awareness. Surprising isn’t it?
This calls for an immediate need for somebody to assist and support CEOs to find a footing and more importantly, to find themselves. That somebody happens to be the Executive Coach.
What is Coaching?
As per the International Coaching Federation (ICF), Executive Coaching is –
‘’Partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential”
The key words here are – Partnership | Inspiration | Maximizing Personal and Professional potential
The usual perception is that coaching is some sort of training or counselling. It is not. There is a clear and demarcated difference here. Coaching is a transformative process where the executive coach helps the coachee (Executive/Leader) find a better version of her/himself. Executive coaching brings about a measurable difference to the potential and performance of the coachee as s/he aligns with a coach.
Coaching is fluid in its nature – like a flowing brook – touching everything around soothingly while gently facilitating the process of self-acceptance, self-evaluation and self-construction.
Coaching, by nature, is very positive and yet does not shy away from unearthing the innermost demons and differences a person possess and it is at this juncture that coaching departs from other forms of self-development. Coaching gets constructive by helping coachees accept themselves as they are and use these differences to construct a better version of themselves.
‘’Coaching is simply a platform that facilitates transformation for the better’’
Some Coaching Stats
The Misconceptions – What Coaching is NOT
It is often misquoted that – Coaching is passive, remedial and post-mortem like.
It is not.
Coaching is perceived to be more of a ‘’remedial measure’’ – more an afterthought than a proactive approach – that isn’t true. This misconception stems from the fact that the coach often plays the role of a guide, listener and does not ‘enforce’ or ‘direct’. Few realize that coaching is a subtle yet powerful way to help coachee – know her/himself better, gain clarity and initiate the journey towards higher potential.
Not many realize that coaching can be a very effective, efficient and proactive process to help coachees transform for the better. Arguably, the single most differentiating factor – Coaching is all about helping a person discover her/his self through a very structured and yet an emotive method.
Coaching is NOT …
A Stanford survey stated that out of 200 CEOs, about two-thirds do not receive any kind of external coaching but almost all of them are receptive to suggestions from coaches showing the sheer impact of coaching.
‘’No matter how experienced you are and how much you have achieved in your career, there is still room for improvement, and a good coach can change the game for you just like Bill Campbell did for Eric Schmidt (Google CEO)’’
Insulated Top management: The more senior the top
management gets, the more ‘out-of-reach’ they become and
the less likely are they to receive constructive feedback. In
short, they become insular when in fact, they need to be more
open and connected.
Outsider value: An executive coach plays the perfect role – that
of an outsider who would have a 360° view of the
leader/executive and help her/him chart a journey through trust
Create Self-awareness: The coach plays a very significant role,
unlike any other, in the life of a CEO or a Business owner. Coach
helps CEOs become self-aware, build empathy, increase the EQ
and ultimately bring them to a level of a more ‘’resourceful
state’’ where they perform well both as an executive and as a
Self-awareness: Arguably, the most pivotal of all benefits is awareness of oneself –one’s weaknesses, strengths and everything in between. Self-awareness is very essential for CEOs and decision makers who are under keen observation by the rest of the organization. A good coach will help you see yourself better and while putting you on a path to self-discovery.
Awareness about others: Assess people well enough or better not assess them at all! This fits very well with CEOs who need to assess people from within and outside the organization. Inaccurate assessment can lead to many unwanted issues – misunderstanding, misdirection and missed opportunities to name a few. Being aware of what others are helps CEOs hire the right talent and take better decisions.
Work on weaknesses: A pain point area is when someone has to tell a CEO about her/his weakness. This where coaches make the difference – they will help CEOs realize their weaknesses and help them to work on these. Many at the leadership level do not realize their weak spots – this where executive coaches play a defining role.
Leverage your strengths: We all have our share of strengths but more often than not, we fail to recognize some of these. Coaches play a pivotal role in not only helping you recognize strengths but also help you leverage on these to your advantage. As CEO/leader/business owner you could use your strengths to benefit many around; to lead people and create positive impact.
‘’The interesting thing about self-awareness?
It’s for life, not just for professional growth. It changes the game in every way for the individual in question’’
How can Regal Help
Regal Unlimited is a well established executive coaching firm based out of Bangalore and conducts in-person sessions at Bangalore, Chennai, Hyderabad, Pune and also conducts the online sessions to clients across the globe.
uncover the hidden talents within you
We help you achieve your true and original
potential through which you can achieve all your
objectives – professional and personal – and reach
the zenith of your success
Regal Founder/CEO – Subash CV has helped
many CEOs, business leaders and business owners
redefine their approach towards work and life and
in turn, achieve boundless potential
‘’IQ gets us a job. EQ gets us growth. But it is fulfilment that we deeply aspire for. And it comes from connecting with ‘purpose’, which is nothing but spiritual quotient (SQ) or love quotient (LQ). Coaching helps you traverse to the ‘fulfilment’ phase and stay there.’’
Want to more on how Regal can bring forth the best version of you? Connect with us
Test Your Leadership Effectiveness with this Quiz
There are various leadership styles from Charismatic, Transactional, Laissez -faire to Hybrid, and everyone has their own.
The more important thing is your style being effective and creating an impact.
Challenge yourself with this quiz and find out how effective is your leadership style?
Need more info on coach training?
Here is your chance to get an answer from our Experts. Type your question and click Submit