Mastering Mid-Year Excellence: Seven Pillars for Elevating Your Executive Leadership

As we near the year's midpoint, now is the perfect time to assess and enhance our executive leadership methods. We've pinpointed seven foundational elements crucial for nurturing growth and building a robust framework that supports ongoing success and meaningful impact in your career. This article provides two guiding questions for each element, intended to prompt deep reflection and empower you to conclude the year on a high note.



1. Continued Education and Certification
Maintaining up-to-date skills and knowledge is essential. As we grow older, neuroplasticity—the brain's capacity to adapt and learn throughout life, and potentially delay age-related cognitive decline—decreases (Shaffer, 2016). Research conducted by Ruth Flexman, Ph.D., highlights that participating in lifelong learning activities is associated with enhanced cognitive performance and a reduced rate of cognitive decline in older adults (Flexman, 2021). Reflect on:

What areas of business should I study next to gain a broader perspective and enhance my leadership abilities?

What fears or hesitations do I have about further education, and how can I address these to move forward?

2. Networking and Collaboration
Establishing relationships and fostering collaboration within the industry is fundamental. Research suggests that networking and collaboration are pivotal for psychological well-being and resilience to stress (Ozbay, 2007). To guide your efforts in networking and collaboration, consider the following questions:

Which conversations or connections have I been avoiding in my professional network, and why?

How can I leverage my unique strengths to contribute to collaborations in a way that benefits all parties involved?

3. Enhanced Online Presence
Enhancing your digital footprint and engaging a broader audience is crucial in today's landscape. Research indicates that users form opinions about websites within a mere 0.05 seconds (Lindgaard, 2006). This underscores the significance of making a powerful first impression through well-crafted website design. To decide what to focus on to improve your online presence, consider the following:

What authentic stories or experiences can I share online that would deeply resonate with my target audience?

How does my online persona align with or differ from my real-life leadership persona, and what does this say about our brand?

4. Feedback and Self-Assessment
Regularly assessing your performance and actively seeking constructive feedback are essential practices. Evaluations offer insights into strengths and weaknesses, allowing employees to pinpoint areas for growth and set specific goals (Kluger, 1996). For executives, evaluations provide valuable feedback to enhance their leadership methods for clients. Furthermore, self-reflection fosters a deeper understanding of one's strengths, weaknesses, values, and motivations, facilitating better decision-making and personal development (Grant, 2002). Consider reflecting on the following:

What specific instances in my leadership have made me uncomfortable, and what can these moments teach me about my leadership style?

In what ways might my personal biases influence the feedback I receive, and how can I mitigate this?

5. Client Experience
Focusing on delivering exceptional and personalized service/product experiences is crucial. According to PwC’s Future of CX Report, “43% of all consumers would pay more for greater convenience; 42% would pay more for a friendly, welcoming experience. And 65% find a positive experience with a brand to be more influential than great advertising.” Reflect on the following:

What assumptions might I be making about my clients’ experiences, and how can I validate or challenge these assumptions?

How can I create more meaningful, transformational experiences for my clients?

6. Mindfulness and Self-Care
Prioritizing your well-being to maintain effectiveness and resilience is fundamental. Researchers analyzed over 200 studies on mindfulness in healthy individuals and found that mindfulness-based therapy is particularly effective in reducing stress, anxiety, and depression (Khoury, 2013). Consider the following questions to gauge your success in achieving mindfulness:

What personal triggers or stressors affect my leadership effectiveness? How can mindfulness help mitigate these?

How does my own self-care practice reflect in my leadership philosophy and advice to clients/employees?

7. Strategic Planning and Goal Setting
Crafting a clear vision and actionable goals for your organization is imperative. Strategic planning helps organizations focus on key priorities and align resources and efforts towards achieving common goals (Kaplan, 1996). Consider:

What underlying fears or beliefs might be holding me back from reaching my full business potential?

How can I align my personal values more closely with my business goals to create a more authentic and fulfilling career path?

As we navigate through the year, it is essential to engage in this mid-year introspection to identify and overcome any barriers to progress. By rigorously examining these ten areas, we can better position ourselves and our clients for significant achievements in the latter half of the year. Embrace this opportunity to challenge your assumptions, push beyond your comfort zones, and set the stage for continued success.

 

Business Management Tips for Entrepreneurs

Business management is a vital part of running small to medium-sized enterprises (SMEs). Owners and entrepreneurs in South Africa use business management skills such as planning, organising, directing, and controlling the activities of a business or organisation to achieve its goals and objectives. This includes overseeing all activities from finance, and operation to marketing and customer retention.



In this article, we delve into a few business management tips that entrepreneurs can use in their daily operations.

 
Business Management Tip 1: 

Set Clear Goals and Objectives

Businesses have various goals and objectives. Not only can this be to make money, but also to make a difference within a community. Regardless of the exact goals, many aspects of reaching these goals can be difficult to keep up with. That's why they must ensure their goals and objectives are clear, practical, and aligned with their vision and mission. This ensures that they remain focused.

It is also important for SMEs to use SMART Goals. This is a widely used method for setting effective and achievable objectives in both business and life. In short, this acronym stands for:



Specified,


Measurable,


Attainable,


Relevant, and


Time-bound.



They make SMEs aware of what they are working towards and allow them to measure their progress. However, goals should be assessed over a three to five-year period.

Business Management Tip 2: 

Understanding Financial Management

Another tip SMEs must practice is controlling the flow of capital in and out of the business. Businesses need to sell products or services, pay expenses, balance the books, and file for tax. This section of business financial management can be referred to as financial management.

Furthermore, it also comes in, but it also consists of complicated processes, such as paying employees, purchasing supplies, and submitting documents to government agencies. TikVah Business Consulting have what we call Streams of Business Solutions that can be accessed by SME's which will greatly enhance how they do business. For more feel free to contact us on nevillesol@icloud.com

Business Management Tip 3: 

Use Technology Effectively

As the business world is evolving, and technology is seamlessly increasing, there is no doubt that businesses need to utilise technology. Not only will this help businesses run smoothly, but it makes managing the business easier.

Entrepreneurs can use tech tools to automate tasks, optimise business operations, increase productivity, and enhance communication and collaboration across businesses. See the previous chapter to learn more about our Streams of Business Solutions.

Business Management Tip 4: 

Customer Care and Satisfaction

Entrepreneurs must hone the skill of acquiring and retaining customers since customers are the lifeblood of any business. But how? Tip 4 is to ensure you take care of your customers and keep satisfaction high by listening to feedback. With our NXT-9 system we can set your business on the right path.

Create a culture of continuous service follow-ups and reviews to better understand their needs and expectations. Answering customer inquiries and complaints effectively and quickly resolves issues and shows a commitment to customer care. This, in turn, leads to increased loyalty and word-of-mouth referrals.

Business Management Tip 5: 

Have a Strong Marketing Strategy

Marketing is important to attracting and retaining customers in order for the business to run and grow. SMEs need to develop a marketing strategy that employs various channels like social media, e-mail marketing and content marketing. They can measure the effectiveness of the marketing strategy and adjust if need be.

 
Business Management Tip 6: 

Keep with Industry Trends

Entrepreneurs must be willing to learn about new trends, technologies, and consumer behaviour constantly. That is how they are able to manage their businesses effectively.

Businesses that follow trends based on market demands and technology can uncover new business opportunities. Even if it's adopting new business models, exploring different markets, or integrating technology that aligns with your business, any new trend can make a business grow.
Business Management Tip 7: Build a Great Network

Networking broadens entrepreneur's horizons. By participating in peer groups, attending events and connecting with colleagues and mentors exposes them to new ideas and advice about managing their business.

 
Business Management Tip 8: 

Future of Goal-Driven Businesses

SMEs that are goal-oriented and have short- and long-term goals are more likely to expand and survive in business for a long time. This is mainly because they have identified tasks to be done according to their goals and objectives and they can measure whether they are on the right path or not.

However, it is this future-oriented mindset that allows them to easily adapt when change happens within the business and keeps them motivated.

Entrepreneurs need to understand how business management works. It helps them to implement various business strategies that drive success. Furthermore, it also helps the business grow when processes are running smoothly, customers are happy and workers have their mind set on the business's future goals.

Find out more about our Business Coaching programmes that can assist you regarding business goals and mindset.

 

Benefits of Business Coaching

Small and medium enterprises (SMEs) have shown supremacy in their business 

operations and have a promising future in the world of business. And have 

been identified as productive drivers of inclusive economic growth and 

development in South Africa and around the world. Some researchers have 

estimated that, in South Africa, SMEs makeup 91% of formalised businesses, 

provide employment to about 60% of the labour force and total economic 

output accounts for roughly 34% of GDP.  

However, they lack a well-structured network of people to consult with 

about where to start and how to manage their businesses. The result is 

businesses that don’t survive for long. Business coaching becomes crucial, 

and a coach is a tremendous help for entrepreneurs and business owners. 

But what precisely is a business coach, and how can South African SMEs 

benefit from them? 

What is a Business Coach?

A business coach is a professional mentor or expert who works with 

entrepreneurs to help them improve their business performance 

and offer recommendations for a company’s vision, objectives, 

and goals. They identify strengths and weaknesses and convert them 

to actionable success to help the business grow.

What Does a Business Coach Do?

A business coach can be given a variety of responsibilities, and their duties can include:

1. Providing entrepreneurs with advice on business plans and strategies

2. A coach must ensure the entrepreneurs are motivated and liable.

3. They are responsible for proper clear, concise communication and understanding of goals 

and objectives 

4. Business coaches create a plan with metrics to help entrepreneurs with their businesses.

5. They also assess the entrepreneur’s strengths and weaknesses and offer guidance 

in development.

Benefits of Having a Business Coach

While a business coach helps SMEs with different aspects of business, the main focus is 

generally on the SMEs ' overall growth. The more growth a business sees, the more 

successful and profitable it will be. Entrepreneurs want their businesses to be 

successful and profitable, thus business coaches work with them to make it happen.

Other aspects may include financial planning, marketing strategies, or basic planning. 

A business coach also helps with the following:

• Troubleshooting business problems or inefficiencies in business ideation
• Creating a business plan, company mission statement, and values
• Marketing and promoting strategies
• Developing financial plans

Key Benefits of Business Coaching

Personalised Guidance and Mentorship

 

Business coaches offer tailored advice to entrepreneurs who need personalised 

guidance and mentorship while instilling leadership and management skills for 

them to put to use in their business operations.

Better Strategic Planning

Entrepreneurs also get assistance with setting long-term goals, while getting 

made to improve business strategy and execution.

Enhanced Responsibility

The business coach often does regular check-ins and tracks the progress of 

tasks given to the entrepreneur. This is done while offering motivation to 

the entrepreneur to stay focused and committed to the goals and objectives

Acquisition of Skills

Training is also offered in specific areas, such as marketing, finance, 

and operations. And enhancing problem-solving and decision-making.

Opportunities for Networking

Entrepreneurs can access a comprehensive range of networks of business 

professionals and potential partners. There is also room for opportunities 

and collaboration that an entrepreneur can get for their businesses.

The Future of Business Coaching in South Africa

Since technology is evolving, there has been a significant shift from 

conventional coaching, which involves the business coach and the entrepreneur 

having face-to-face contact, to remote coaching. The relationship between an 

entrepreneur and a business coach can easily be facilitated through technology 

such as artificial intelligence, machine learning, and virtual and remote coaching. 

Here’s how they work:

Virtual and Remote Coaching

 

There’s an increase in remote coaching creating a global network, virtual coaching 

is a tailored approach to professional development delivered remotely through digital 

platforms

AI-Powered Coaching

 

Artificial intelligence (AI) and machine learning are actively reshaping the coaching 

industry and gaining increasing influence. It is a machine-assisted, systematic process 

that helps clients set professional goals and construct solutions to achieve them 

efficiently

The business world just got better for entrepreneurs in South Africa who can now access 

services from business coaching to help them with their businesses, in terms of personalised 

guidance, enhanced responsibility, acquiring skills, and networking opportunities. As an

 entrepreneur, you should take advantage of this and get yourself a business coach. 

Schedule a coaching session with one of our many professionals with over ten years of 

experience to guide you towards success.

Coaching Skills: The 4 Types of Awareness 

The seventh core competency of the ​​International Coaching Federation’s (ICF) Core Competencies is the ability to “evoke awareness.” The Merriam-Webster dictionary defines “awareness” as “the quality or state of being aware: knowledge and understanding that something is happening or exists.” However, what is awareness when applied to executive coaching? Why do executive coaches need to adopt “awareness,” and how can they? Continue reading to find out.

“Awareness is a key ingredient in success. If you have it, teach it, if you lack it, seek it.” - Michael Kitson

Defining awareness

Dr. David Hanscom defines awareness as “being fully connected to the present moment” (2021). The ICF states that the aware executive coach “facilitates client insight and learning by using tools and techniques such as powerful questioning, silence, metaphor or analogy.” The aware executive coach is intentionally aware of the “client experience,” as well as their “thinking, values, needs, wants and beliefs.” They are aware of “what is working” for their client as well their potential challenges (ICF, n.d.). When an executive coach practices awareness, they will know “how to facilitate the session” and “the right questions will come at the right moment” (Kumar, 2020).

In summary, the aware executive coach is intentionally aware of all aspects of their coaching relationship, how it affects their clients, and how it affects themselves. The aware executive coach uses their awareness to provide more impactful and personable coaching.

4 types of awareness

When examining awareness for the executive coach, it is important to understand the different types of awareness. By breaking down the various forms of awareness, executive coaches can further ensure that they are maintaining intentional awareness of their executive coaching. Dr. David Hanscom outlines 4 types of awareness.

#1: Environmental awareness

As defined by Dr. Hanscom, “environmental awareness involves placing your attention on a single sensation—taste, touch, sound, temperature, etc.” This awareness draws your attention to what is happening in the present moment and allows you to notice not only your surroundings but also your client's non-verbal communication. As the adage goes, most communication is non-verbal. Some even report that non-verbal communication is up to 90% of all communication (UTPB, n.d.). The Society of Human Resource Management states that “managers who rely solely on verbal cues to communicate with employees are missing the majority of what their employees are saying” (Talley, 2010). This is also true for executive coaches. By noticing your clients’ non-verbal cues within your coaching environment, you begin to gain awareness of questions that your clients are not open to, or challenges that are particularly stressful, as displayed by their body language and tone of voice.

#2: Emotional awareness

Executive coaches should also be aware of emotions that are displayed during a coaching session. Being aware of emotion requires not only awareness but also a vulnerable acceptance of emotions. Dr. Hasncom shares a quote from a fellow doctor in his article which states, “you have to feel to heal” (2021). Without emotional awareness, executive coaches risk being reactive to the behaviors, failures, successes, and challenges of their clients (Hasncom, 2021). This reactivity can displace powerful questions, time for reflection, and insightful discussion. When executive coaches are aware of the emotions that their clients display, they can better address their needs and challenges.

“What is necessary to change a person is to change his awareness of himself.” - Abraham Maslow

#3: Judgment awareness

It is also important for coaches to be aware of their judgments, unconscious biases, and preconceived notions. Types of judgment can include labeling, perfectionism, and negativity. Dr. Hasncom states that by gaining awareness of these thought patterns, you can work towards “more rational thought patterns.” Furthermore, judgments can also get in the way of powerful questioning. When judgments are made and accepted without being confronted by awareness, curiosity is left far behind. By embracing awareness and questioning preconceived notions, executive coaches can protect their sense of curiosity, ask more powerful questions, and better help their clients achieve their business goals.

#4: Ingrained thought patterns

Dr. Hasncom states that “your thoughts and beliefs are your version of reality” (2021). The thought patterns and beliefs that you have influence your view of your challenges as well as your view of your clients’ challenges. Being aware of your thought patterns and beliefs can help you recognize unhelpful patterns or beliefs such as negative assumptions about client behavior. Furthermore, learning to recognize your own ingrained thought patterns can help you start recognizing the thought patterns of your clients as well. This new knowledge can be a great source for powerful questions and deeper discussion.

 

Mindset in Coaching

What is a mindset?

Our mindsets are “habitual patterns of thinking” that

·         Frame the way we see the world

·         Program what we believe our limitations and possibilities are

·         Define the parameters of our actions and interactions

·         Affect our outcomes/results         Adapted from: Marilee Goldberg (2002)

 Our mindsets are like lenses through which we view the world. For most of the time we are not even aware of our mindset. We can, however, become aware of the mindset we’re operating with. We are then able to decide whether that mindset actually serves us and our goals – or whether another mindset might serve us better. As coaches we are more effective when we shift from the mindset captured on the left to the mindset captured on the right.

From		Towards
Focus On Deficits & Deficiencies What Needs To Be Fixed		Focus on Strengths Capabilities and Possibilities
Concerned with Judging & Evaluating Current Performance		Concerned with Developing and Growing Capability for Current and Future Performance
Caring Only About Results		Caring About Results and Caring About People
‘Know It All’ Closed Thinking Judger Orientation		Curious, Open Inquiring Learner Orientation