Vision on business coaching
Business coaching is a broad term. It is not only directed to people having and running a business. It involves a variety of people who want to develop an entrepreneurial mindset. We identify three types of groups: the entrepreneur (who has and runs a company), the intrapreneur (who needs to be entrepreneurial within an organization) and the edupreneur (the student who needs to acquire an entrepreneurial mindset).
There are many business owners in the world, but not all of them are also enterprising. Anyone can be a business owner. In most cases, you only have to register at a companies house and apply for a VAT number and off you go.
So, it’s about how entrepreneurial an entrepreneur is. And how entrepreneurial he needs to be for the business he is in. Therefore the main question business owners should ask themselves regularly is: if they are the right entrepreneur for the business and business phase they are in.
Lack of self-knowledge: Why entrepreneurs need business coaching.
Being entrepreneurial means seeing opportunities, exploiting them and creating value for yourself and others. The good news is that an entrepreneurial mindset can be developed. And of course, you already knew that. There is also enough science to back this statement.
But, it all begins with self-awareness and self-knowledge. This means entrepreneurs need to honestly and objectively assess their strengths and weaknesses.
Unfortunately, many entrepreneurs lack this self-reflective ability. Research shows: only 28% have accurate self-knowledge. Because of this, they follow the wrong strategy, with failure or worse bankruptcy as a consequence. Business coaches can improve the self-knowledge of small business owners. Furthermore, they can increase their personal and business growth. Research shows an increase with our proven tests, tools and training.
The world is changing rapidly. This means that organizations, large and small, have to change too. They have to anticipate and act. Not only the management board has to be enterprising, employees too. That means intrapreneurship.
So, employees must anticipate what will come, even though they do not know what direction it will be going to. Due to this, they need to see opportunities. They have to convince others, like management, to ensure that the organization can utilize them. In the end, creating value for the organization and its environment.
How HR can spot entrepreneurial DNA
However, in many jobs, they are looking for an entrepreneur. Yet, what they mean is an enterprising employee. Still, there are a lot of employees who lack this entrepreneurial DNA. With special programs, HR can discover the best entrepreneurial employees. And for some of them, there is potential to develop an entrepreneurial mindset within the organization.
Furthermore; to be enterprising within an organization also means that the structure and culture of the organization must fit intrapreneurship. We can help HR with tools and programs.
Due to the popularity of entrepreneurship, lots of students are positive about starting a business of their own. But even if they don’t want to start a business, employers are looking for staff with an entrepreneurial mindset.
So, education has to focus on entrepreneurship. As a consequence: vocational education is forced to change its qualification. These should entail orientation towards entrepreneurship, enterprising behavior and running your own business. But most teachers really don’t know what to develop an entrepreneurial mindset with today’s students.
Why teachers need to have business coaching skills for the students of tomorrow
Being entrepreneurial is an umbrella term for an entrepreneurial mindset and behavior. It is thus a prerequisite for entrepreneurship. Entrepreneurship – in our definition – is seeing opportunities, exploiting them and creating value for yourself and others. And value is much more than money alone. An entrepreneurial mindset helps everyone in daily life such as at home, at school, and at work.
Good news: it can be developed, also among students. Especially if it happens in a continuous and blended learning environment. But it requires, above all, business coaching skills of the teacher. We have E-Courses to learn teachers how to coach student entrepreneurs.