Why hire a Business Consultant?
Business consulting helps you meet your leadership goals, not by telling you what to do, but by asking increasingly pointed questions that help you target important goals, defining the activities that promote or detract from those goals, committing to doing more of the former and fewer of the latter, and holding you accountable for following through on the commitments. Consulting is about drawing out the internal wisdom of the client.
Consulting has more of a recommendation, prescriptive, or advising quality. At the end of a consulting engagement, the client has answers. Consultants are often eager to implement the recommendations.
Consulting is relentlessly present-minded and action-oriented. While consulting, we may be therapeutic for some CEOs, it is definitely not therapy.
Truth Telling. No one in the organization needs an honest, close and long term relationship with a trusted advisor, more than a CEO. No one else needs to hear the truth more, but gets it less from colleagues; no one else is always the focus of criticism when things go wrong; no one else is the final maker of difficult and often lose lose decisions; and finally, no one else benefits from the rewards and celebrity when things go right.
When CEOs ask why they should engage an executive coach, she says: “The value you get from an outside person looking in who is not attached to your persona, job or product gives you an insight that you will never get from your colleagues. And what better benefit can you get than the truth?”
The chief benefit of coaching is to get “unbiased feedback on the good and ill of CEO behavior.”
CEO coaches and consultants can provide not only strategic advice, but a strategic sounding board. The nature of CEOs is that they tend to leverage the factors, qualities and attributes that led them to success. That mix usually serves CEOs well. But there are aspects of the CEO job that requires them to act differently, communicate differently and partner differently. A consulting or coaching partnership can help a CEO with those.
Great CEOs, like great athletes, benefit from coaches that bring a perspective that comes from years of knowing [you], the company and what [you] need to do as CEO to successfully drive the company forward. Every CEO can benefit from strong, assertive and honest coaching.
There is much at stake. Coaching can be costly, but not because of the fees, which, with travel expenses, can exceed $100,000 for a six-month engagement, but in terms of the CEO’s time. Compared to the magnitude of the decisions CEOs make, money is not the issue. If you have a new perspective, if you feel better with your team, the board and the marketplace, then you have received real value.
Mergers and Acquisitions