Endorse your own Service and message

When did you last have a coaching session? Maybe you’ve outgrown your coach? Whatever the situation, practice what your preach by investing in yourself – hire a coach today!

There are 70,000 millionaires in the UK - 53% come from non-privileged backgrounds. All have 110% energy and 78% have risked everything at some point. 70% also say that money is more important than love, so much so, many can’t contemplate retirement in case the money runs out.

You may not want or need to become a millionaire; after all, we all have different definitions of success and ideas of when enough is enough. However, we can still apply the same principals required when establishing a successful coaching practice for example:

• Processes
• Benchmarks
• Multiple streams of income
• Marketing plan
• Best practice

In addition, many coaches share some of the same key characteristics that drive millionaires:

• Creativity - ideas, ideas, ideas (this includes taking action on those ideas)
• High self confidence / belief / motivation / obsession / indulgence
• Risk takers – they have a strategy, goals and vision
• Rule breakers – even cheating (i.e. change rules to suit themselves)

This month’s newsletter has a financial theme running through it. However instead of concentrating on what makes bottom line profit, we are instead looking at getting the basics right; the soft issues (people, skills, attitude and knowledge) because if we do that right, the profits will naturally follow.

So, over the coming months we will be exploring how best to help you achieve your goals, whether it’s about becoming a millionaire or not is up to you!

Let us know how we can best add value to your practice and ongoing self-development. How we can exceed your needs and expectations through your newsletter, tell us and we will endeavour to deliver.

Dawn Campbell
Head of Newsletters

Send your questions, quotes, case studies, articles, tips, feedback and queries, acronym’s etc to: newsletter@the-eci.org

Some years ago Britvic (The British Vitamin Products Company - from which Britvic takes its name - was founded in the mid-nineteenth century in Chelmsford) added coaching to their tool kit to improve the quality of their leadership. Using the words of participating managers, this case study is about the differences experienced. It describes the clear direction, leadership and strategy needed for change.

Nearly three years ago a new ‘Customer Operations’ Division was formed within Britvic – from several disparate groups, managed by people with differing management styles with approx 800 employees in a range of roles responsible for selling product, installing equipment and maintenance.

One of the key objectives is to become a role model in the business for leadership and coaching through setting the direction for the management with a particular focus on team-working and leadership. Aims include “developing an enabling, more ‘enlightened’ management style”.

In October 2001 ‘Steps to Selling Solutions’ philosophy was announced, an in-house training course on sales – to move people from ‘manager to coach’. “Coaching provides the right foundation to achieve the improved business performance”.

What is unusual about the Britvic approach is the extensive use of coaching as a way of transferring skills from the training room to the workplace. ‘Enabling Leadership: Coaching Skills Workshop’ is a two-day course to provide development for managers - 70 per cent is coaching, although it is called ‘leadership’.

The start of the development process is for managers to diagnose their coaching skills and development needs, using CoachingIndex360©: a 360-degree feedback questionnaire and process. CoachingIndex360© provides feedback to managers on their performance, and forms the basis for a facilitated discussion for managers to identify their own strengths and weaknesses, and draw up their own action plans.

The biggest improvements in performance – of over 10 per cent in the space of a year – were for questions such as ‘enthusiastically spends significant time coaching’, ‘promotes the use of coaching’, ‘makes time to prepare for each coaching session’, ‘jointly agrees challenging but achievable objectives for each session’, and ‘is available at a distance – has frequent reviews between sessions’. This demonstrates that the basic building blocks of good coaching are being put in place – spending time on coaching, planning and preparing, and setting good objectives.

It is clear from talking to Britvic managers that they are using the coaching sessions as ways of changing the behaviour of their teams. “There is still more to do in all these areas, but the advantage of using CoachingIndex360© is that it helps managers identify where they need to make further progress.”

There have clearly been major changes in behaviour over the period of this work. “Previously there was a lot of ‘checking’ before decisions; there was not enough intellect and empowerment to avoid that. Now it is much better; coaching has helped that.”

“The process works a lot better now managers and coaches are well briefed on the role of coaching, it helps people to manage and achieve their business objectives.”

Provided by Valerie Heritage

To read the full case study, go to http://www.europeancoachinginstitute.org/members/articles/

These are the 7 habits of highly successful people:

1. Pro-activity
2. Begin with the end in mind
3. 1st things 1st
4. Win-win
5. Seek to understand before being understood
6. Synergy
7. Sharpening the saw

1 – Pro-activity is about the power of freedom and the ability to choose. We all have this ability.

2 - Begin with the end in mind is about checking you’re climbing the right ladder:

• What do you want to be
• What do want to do
• What do you want to have

3 – 1st things 1st work out what tasks you are doing that are:

• Urgent and important
• Urgent but not important
• Important but not urgent
• Not important and not urgent

Which describes your workload?

4- Create ‘win win’ situations and develop a bank of trust with the person you’re interacting with. A deposit could be respect, feedback, compliments and asking for support etc. Withdrawals are failed promises, taking advantage, criticising or not listening etc.

5 Seek to understand before being understood rather than listening with the intent to reply i.e. finishing other people’s sentences.

This principle is about listening actively, there are 5 levels of listening:

1. We can ignore the speaker
2. We could pretend we are listening
3. We may be selective about what we hear
4. We could be attentive
5. Or we could empathise with what’s being said

6 – Synergy is about finding a third alternative, a better way of moving forward towards a co-operative solution. The essence of synergy is valuing and respecting differences then viewing them as opportunities for learning.

7 – Sharpen your saw is about the renewal of self, taking time out to look after ourselves, because we understand that we are our most valuable asset.

For more information about this inspiring 2 ˝ day course in rural Chard, please contact bernardgenge@hotmail.com

In line with the Corporate Coaching article above, to read the full case study, go to http://www.europeancoachinginstitute.org/members/articles/

European Conference 2005- the ECI is running an exciting and innovating European Conference in Spring 2005. 

I used to fear wealth. I just didn’t equate Lisa Jimenez and millionaire. And why would I? I thought millionaires were selfish, unfaithful, unkind, unbalanced, work-a-holics who were evil, rude, and ungodly.

I couldn’t have been more deceived...

These negative beliefs I had about wealth were based on lies, society’s deception, and fear of my own brilliance.

What I’ve discovered, after years of working on replacing negative beliefs, and finally creating wealth, is that money doesn’t change you. Money makes you more of whom you already are!

If you are an uncaring, selfish, jerk and you become wealthy, you are going to be a BIG uncaring, selfish jerk. On the contrary, if you are a thoughtful, kind, and generous person and you become wealthy, you are going to be an incredibly thoughtful, kind, and generous person.

Money makes you more of who you already are…do you hold that belief?

I realized that when I create wealth I greatly benefit others. When I’m wealthy everyone wins!

That is what wealth can do. Wealth gives you choices – more choices, bigger choices. Wealth gives you opportunity – more opportunity, bigger opportunity.

It was only when I allowed myself to become wealthy that I could take those intentions and turn them into actions. And it’s the same for you. When you’re wealthy everyone wins!

Wealth gives you choices – more choices, bigger choices.

Wealth gives you opportunity – more opportunity, bigger opportunity.

Financial wealth begins with your words, thoughts, beliefs, and actions. You can increase your wealth next year by increasing your inward wealth this year.

How rich is your life?

Are your words inspiring, bold, and encouraging?
Are your thoughts adventurous, confident, and exciting?
Are your beliefs empowering, audacious, supernatural?
Are your resources abundant, freely received and freely given?

What can you do today to create richness in these areas?

When you are rich in words, you change yourself and others.
When you are rich in thoughts, you inspire yourself and others.
When you are rich in beliefs, you attract opportunity, people, experiences, and an abundance of financial wealth.

Rich words, audacious thoughts and super natural beliefs create an abundantly rich life!

A business plan is a forward looking document detailing a commitment and intent to deliver. Owned by the people producing the results it demonstrates conviction, confidence, credibility and commitment to growth.

Typically there are 4 main reasons for writing a business plan:

1. To raise finance from investors
2. To help sell the business
3. To find or retain a business partner
4. As an aid to manage the business

Writing up a business plan in the form of a working document (regularly reviewed), will realise the following benefits of which these are just a few:

• Maximises cost avoidance
• Enhances time management
• It’s a tool for implementing change
• Provides focus and motivation
• It benchmarks performance
• Provides a SWOT analysis
• Conveys your mission and vision
• Establishes team spirit
• Helps to define SMARTER goals

Research shows that businesses that undertook regular planning had an average profit margin of 54% compared to those that didn’t and only made an average of 35%.

Tips

• Keep it simple, logical and honest focusing on what the reader needs to know
• Put substantial information in as an appendix i.e. evidence, using graphs, charts etc to explain statistics
• Do your market research and explain the history of the business
• Test out your plan – check it's realistic and set deadlines to it

Your business plan should include the following details:

• Name of the business and contact details, type of business and if it's sole trader / partnership or other
• Description of business premises – freehold / leasehold
• What your goals are with deadlines
• Information about your position in the market and competitors
• Aims and objectives – mission statement
• Who your customers will be and when they will be
• How much you are investing
• What your service is and what’s special about it detailing features and benefits
• Pricing calculations (add up all your standard overheads, professional fees etc this will help you work out your break-even point then divided by hourly or daily rate = your charge out rate)
• Promotional marketing and what your sales projections are based on
• Any assets you have to off set start up costs
• Creditors with a repayment plan and any other funding details
• Profit and loss and cash flow forecasts
• The resources you’ll need, recruitment and training plans
• What quality control and management information processes are in place
• Set out the structure and key skills of the team (and plans to plug skills gaps)
• How you plan to launch / promote your business
• Any historical operational and financial data
• A one page SWOT analysis

The ECI continually strives to improve the services provided to our Members, our Accredited Coaches, and our Accredited Training Providers. Therefore when we receive an offer or an article that looks interesting, we are happy to pass it on through our newsletter.

However, although we do endeavour to ensure that the offer or article is true and accurate, we are unable to try out everything we receive - as such we cannot give warranty to that effect. We cannot be responsible for the consequences of reliance on that information, and any information of an advisory nature is general only and cannot be regarded as applicable to a specific case.

Where links from this newsletter lead you into web-sites maintained by someone other than The European Coaching Institute, we make no representation or warranty regarding the accuracy, timeliness, suitability, or other aspect on the information located on such servers. The European Coaching Institute neither monitors nor endorses such web-sites or content.