You need to constantly improve if you want to win in today’s hyper-competitive market. No one, I mean no one, can sit back and rely on their past successes as a guarantee of future success.
Nowhere is that more risky than in a family business! So many families believe their family’s reputation and success will carry them into a secure and prosperous future. Yet the statistics consistently reveal that 70% of family businesses will not survive into the next generation.
The answer? Every business team must grow, develop and improve their skills and ability to execute.
That’s where coaching comes in. Coaching is not only a partnership designed to improve performance, it’s a mindset!
Here are the top 10 benefits you and your family will get when you learn to be “coachable!”
- It helps everyone learn how to be open-minded
- It’s a great way for the team to learn how to support each other in a productive way
- It builds resilience and a performance-improvement mindset
- Coaching is a form of communication and feedback, so it builds communication skills
- It teaches you how to be a good listener
- It teaches humility and a willingness to demonstrate you don’t have it all figured out
- It helps the team focus on and articulate the needed skills for success
- It builds teamwork
- It provides a path to success
- It teaches you how to win
Everyone in my family has learned how to coach and be coachable. It’s a great way for us to interact and support one another. It’s not always easy, and there are times where someone might say “not now,” but in the end we all want to keep finding ways to find the best version of ourselves and our family.
Enjoy the journey!
Pete Walsh is a demanding, courageous and playful Master Coach in Phoenix, Arizona. He is the founder of Peak Workout Business Coaching and the Family Business Performance Center. He can be reached at firstname.lastname@example.org.