02nd Oct , 2019
So far in 2019, businesses have faced many challenges with recurring themes, as well as new and unique pressing issues, all of which our business coaching professionals can provide assistance and support for.
At International Business Mentors, our business mentors and coaches come with a wealth of business experience to share with their mentees, helping to improve business performance and success. We can provide a business coach or mentor for any industry sector, ranging from small businesses through to SMEs and large corporations.
The top issues in which our business mentors and business coaches have assisted so far in 2019 are:
This is a constant area where our business mentors and coaches can provide valuable input through experience, by casting an independent and impartial eye over the business and offering confidential support to implement change and improve business growth strategies. For example, examining the process for expansion in home markets and overseas, with the various supportive and incentive systems available.
Good leaders are at the core of business success. Business owners, and those transitioning into leadership roles, want to be better leaders. With the help of a supportive business mentor or business coach, their leadership styles are examined so areas for improvement can be identified.
Businesses with strong ethics and moral compasses have increasingly strong reputations and enjoy success. But for businesses perceived to be acting improperly, they can develop a tarnished reputation that impacts financial performance directly. Where there is adoption of strong ethics, procedures and policies that are transparent and compliant, business reputation can be strengthened and customer and market perceptions can be improved.
Our business coaching and mentoring professionals have also been called upon to assist with emerging issues, such as spin offs for Australian businesses as a result of Brexit. A potential free trade agreement with the UK could have possible enormous benefits, especially in agriculture and exports from Australia.
Other areas where a business coach or mentor can assist include:
The following are emerging and growing economic issues experienced by our clients:
The explosion in wellness centres has led to more businesses understanding the importance of incorporating wellness into the business and its culture.
It’s important to identify mental health issues amongst employees. Once established how this may impact on the business, a business can assist and support those affected.
Automation, robotics and AI advances are emerging as strong business opportunities that need to be assessed on how they will transform and completely change the competitive landscape and disrupt markets for individual business. These areas will need planning for transforming workforces, retraining, and gearing up for the new technologies. New approaches will also be needed for delivering product and services, marketing, selling and advertising online, and leveraging up social media.
Whilst technical ability is critical in most instances, recognising and encouraging the less tangible ‘soft skills’ such as creativity is important. Other competencies can include negotiation, persuasion, interpersonal capabilities, flexibility, adaptability, teamwork and leadership. These skills can help to develop more productive workforces, leadership and management.
The move is on to harvest the benefits of having a broader range of people in the workforce, such as a wider representation of women and a broader mix of ages, disabilities, business and market experience, technology competencies, and wider ethnic and cultural backgrounds. These greater diversities promise to unleash great business improvements and business growth strategies, but business leaders need to be more flexible and evolve their management and workplaces to deliver on that largely untapped potential.
The pressures of climate change affect some businesses more than others, but all organisations need to be aware of the relevant impacts and compliance around this sensitive issue. Wider stakeholder pressures will increase.
A growing challenge is to keep up to date and compliant with changing national and international legislation, such as avoiding modern slavery, tax avoidance and money laundering.
This has become increasingly important in 2019, with every business at serious risk. Businesses need to put in place IT architecture and systems to check that vital data is kept secure.
Flexible working such as hours and working remotely have become more common and part of dynamic management of workforces to increase productivity and reduce the costs of business. These new workforce paradigms come with new management challenges to ensure that productivity does increase and is maintained.
The customer continues to be crucial to all businesses. Attracting them, keeping them happy and retaining them in a competitive environment is a continually increasing challenge that a business coach or mentor can assist with.
Good people are one of the organisation’s best assets. With the help of an experienced business mentor or business coach, policies and procedures can be implemented to encourage support and reward those most valued.
At International Business Mentors, we have business coaches and mentors in specific areas who can assist with emerging issues by taking a practical business approach that’s aimed to improve your business’ performance. This close supportive relationship allows you to tap into the broad business experience of your business coaching professional, who understands the challenges faced by business owners, CEOs and senior executives. For assistance in overcoming emerging challenges and developing your business’ performance, contact International Business Mentors today.