TED Talk Tuesday 9th February 2016

This week’s TED Talk clip is from an independent TEDx event:
How Meditation Can Reshape Our Brains: Sara Lazar at TEDxCambridge 2011

Clip length: 8 mins 33 secs

Prefer to watch via YouTube? In that case you’ll need to click here.

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5 Ways To Get Your Clients To Breakthrough When They’re Well and Truly Stuck

In today’s guest post coach and mentor Lottie Moore shares some of her practical experience and knowledge:

5 Ways To Get Your Clients To Breakthrough When They’re Well and Truly Stuck

By Lottie Moore

"5 Ways To Get Your Clients To Breakthrough When They’re Well and Truly Stuck" by Lottie Moore

At some point in our coaching careers we all come across the clients who are ‘stuck’, who, despite our best efforts, are unable to move forwards with their plans, dreams, or ambitions.

As coaches this can be a frustrating process.  As an outside pair of eyes, we can often see, or at least guess at, what the issue is that is holding the client back.  Quite often it can feel that there is an elephant in the room with us, glaringly obvious, and yet unmentioned by our client despite all our best lines of questioning and cajoling.

Sometimes even when the client recognises what it is that is holding them back from achieving their goals, they are unable to break out of the old, destructive patterns of behaviour.  You may sit in sessions with them where it seems likely that they are going to breakthrough what is holding them back, only to see them in a fortnights time to realise nothing has changed.

So how do we help these clients?  How can we facilitate them moving forward when they appear to be well and truly stuck?  Here are my top 5 tips to creating breakthrough when it’s needed most

1. Drop the F-bomb – sometimes your client may just require some serious reinforcement to realise how important this issue is. A carefully placed f@@k, or equivalent bad language, can bring it home with a bang how pivotal you think this issue is.

2. Use Physical Metaphors – creating great confidence and self-belief in one area can hugely assist your client to live that out in other areas of their lives. Activities like glass walking, or arrow breaking with the throat can have a deeply impactful effect on all areas of life, and learning the skills to use these activities in your daily work is easier than you think.

3. Look Back To Move Forward – you don’t need to be an expert in timeline therapy to assist you client to look back on their past experiences to find out where the initial cause of the limiting belief sits. By uncovering what lies at the root of the problem, they can then start to take steps to move away from past learnings that are holding them back.

4. Create Anchors – although physical metaphors are great for this, they are not the only way to enable your client to use this powerful NLP technique. Get them to think back on a time were they were hugely successful and happy, then assist them to create a physical anchor such as a simple hand movement.  When they are struggling with what is holding them back, they can then use this anchor to root them in success and positivity.

5. Be Kind – Life can always seem easier to an external set of eyes, but it’s important to remember that we all have our own shiz to deal with. Don’t let yourself get frustrated or disappointed if it’s taking your client longer than you would have hoped to reach that moment of breakthrough.  Sometimes all anyone needs is patience, understanding, and encouragement, so keep being that positive influence in your client’s life, and reminding them of what they are capable of when they set their minds to it.

Clients that take a long time to reach a point of breakthrough can rock our confidence in our coaching ability, but also can be hugely rewarding when they finally get there.  I hope these 5 tips will be of use to you next time a client that is well and truly stuck comes through your door.

About Lottie Moore

Lottie MooreLottie is a multi-award winning coach and mentor who lives life outside of the comfort zone.  Best known for her firewalking, and physical metaphors training, Lottie is passionate about creating change for the individuals and groups that she works, encouraging them to look beyond their limitations and shine

 

Lottie loves to connect and can be found at: breakthrough to personal power

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TED Talk Tuesday 2nd February 2016

This week’s TED Talk clip is from an independent TEDx event:
Thinking beyond your head | Mikkel Rasmussen | TEDxTottenham

Clip length: 11 mins 54 secs

Prefer to watch via YouTube? In that case you’ll need to click here.

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The most popular quote from our twitter account from week 3 of 2016: 1

Most RT'd quotes last week on @thecoachingblog

Each week I share the most RT’d quote(s) from the blogs twitter account over the previous week. Last week the quote with the most RT’s was:

M “Success is stumbling from failure to failure with no loss of enthusiasm.”

(Winston Churchill)

Tweeted on 18th January

There was a 2-way tie for the quote with the next highest amount of RT’s between:

“Success is walking from failure to failure with no loss of enthusiasm.”

(Winston Churchill)

Tweeted on 19th January

and

“A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing.”

(George Bernard Shaw)

Tweeted on 24th January

thank you

Many thanks to everyone who shared the quotes above and the other quotes from last week. I know that there are various aspects that can influence if a quote attracts your attention – if you saw the tweet, personal style, if it speaks to something happening in your life at that moment etc.

Which quote do you prefer?

(For those of you as geeky as I am and wondering what tool I’m using to measure individual RT’s this week I’ve been playing with www.twitonomy.com)

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Is Holding Three Months’ Worth of Overheads enough to Mitigate the Small Business from Risk?

Finance is one aspect of running a coaching business. In today’s guest post finance expert Hayley Chiba shares some of her expertise of working with small business and entrepreneurs.

Is Holding Three Months’ Worth of Overheads enough to Mitigate the Small Business from Risk?

By Hayley Chiba

"Is Holding Three Months’ Worth of Overheads enough to Mitigate the Small Business from Risk?" by Hayley Chiba

Business coaches and consultants often advise a small business, to always aim to hold 3 months’ worth of their overhead costs. This is to mitigate the risk of some down turn in the business.

In fact, this could apply to any unforeseen event occurring, where this meant the business were unable to generate sufficient sales to cover their fixed costs.

As a business coach, overall this is a good metric to have, but I was recently asked this question by a business owner. He still didn’t feel assured and satisfied that he had risk covered. If a business coach is to provide a valuable metric to his business owner client maybe a fuller dialogue is needed. As we know, better discussions with our clients can often lead to longevity and trust from your clients, as it gives you the opportunity to demonstrate your deeper value to your clients.

The problem is, that using an arbitrary figure like this, does not really relate directly to the specific level of risk that the business is facing.

Using this measure is fine if it relates to a business with low growth. Also, if it has a foreseeable pipeline of sales and a good insight into future potential environmental factors which may affect the business.

Just concentrating on holding a reserve only buys time, actually 3 months in this case.  You need to consider, if there were an unforeseen event, how would that impact on the business financially?  An unforeseen event may be the loss of a major customer, change in law or perhaps the loss of a key employee. Having considered this, how long would the business need, to put in place an alternative plan? Furthermore, how long would it take for “business as usual” to resume?  This then leads us to think that we may need a much longer period of time, perhaps more like 6 months. As well as thinking about the amount of time the business needs to recover, we also want to consider if the business owner is actually looking to change something about the business.

Specifically, if they are thinking about undertaking a significant investment to grow the business. In this case the potential risk will rise as the return from the investment into growth activity is still to be proven.  Spending out on more investment for growth will, in the short term, lower the profit margins and available cash. This can feel daunting especially when the business owner realises their current healthy profit margin is going to be eroded and in fact with it, any cash reserves they have built up.

So, I always recommend that in this case, further projections should be made. This will give the business owner the peace of mind that eventually, he is going to see the results he is anticipating. More importantly though, having some sort of forecast of what he expects to happen and measuring against this, every month, will flag quickly to him, where the plans are not playing out the way he was expecting. This will give him sufficient time to look at this, think of the actions he needs to take and make the necessary adjustments to his action plans to try to bring his results back on track.

The key report required to help give visibility on whether the new investment is viable is the Cash Flow Forecast.

I always suggest starting with the current situation and financial shape. Hence at this point it is crucial you understand your current position in terms of some key components.

  1. What is the current Sales Projection based on hard data? We can all dream, but sales forecasts should be based on some credible extrapolation of the past or last year’s actual data achieved.
  2. What are the current profit margins and specifically what is the gross profit margin? Gross profit margin being sales less direct costs.
  3. What are the overheads and what is the average run rate for the overheads? Overheads will naturally fluctuate due to the timing of supplier invoices. Marketing, administration, repairs and travel are good examples of this type of spend. They reflect areas where the timing of spend is discretionary and not fixed as a monthly fee. Breaking out spend where there is some flexibility on when to spend, gives a view of what overheads are absolutely fixed and have to be covered month on month.

So, armed with these 3 areas of information, you should be fine now to create a time based cash flow forecast. Not you of course, the bookkeeper or the business owner himself!

This forecast should be drawn up as a monthly forecast, (or even weekly depending on the nature of the investment spend). Plot it forward until the point when you expect the business to be seeing the benefit from the investment. This is often longer than you realise. The cash flow forecast should show the benefits materialising, which take the business to the next level. Ensure that the forecast covers this full time span. Many business owners stop short of this point. They only project across the time of when the spend is actually taking place. You need to see what happens to the business shape post the spend. You want to see if and when the business shape returns or even improves versus its original shape. This will often result in a forecast for at least 1 to 2 years out.

Having created the forecast, the most crucial action is to measure against this monthly. Failure to do this, may mean that the forecast is not delivered. You will need a flag to alert where and when the business   moves off-track. Ensure that there is a consistent and methodical tracking of the key components of this cash flow forecast.

Planning and then measuring, will help to confirm if the growth investment decision was the right decision. Where it is proving not to be, this early warning flag should give sufficient time to plan how to mitigate these costs by stopping the things that are not working and reinvesting in other areas.

Protecting the business pot of cash is as important as building that pot of cash, whether it relates to 3, 6 or 12 months’ worth of overheads. If you can advise him fully by including these additional necessary steps where appropriate, you will ensure that the business owners hard earned cash is not eroded.

That’s something I’m sure he will certainly thank you for!

About Hayley Chiba

Hayley Chiba

 

Hayley Chiba is a qualified Financial Controller working with small businesses. She runs her own business, Better Numbers Limited, which provides one to one Financial consulting to £1m + growing businesses in the Bristol, UK area.

She also provides Financial coaching to Entrepreneurs, Home Business Owners and Start-ups via her Ecourses. She dedicated to helping small businesses grow through increasing their personal and business financial awareness.

 

 

Connect with Hayley via:

Website: www.betternumbers.co.uk

Faceboook: www.facebook.com/Betternumbers/

Twitter: @betternumbers1

Linkedin; uk.linkedin.com/in/hayleychiba

 

 

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Coaching Resource – “Coach Cafe” Live Event

Coaching Resource – “Coach Cafe” Live Event

Occasionally I like to share resources and events that I think will be of interest to other coaches. Today I want to share an event happening next week:

Coach Cafe

5th February Norton Park Conference Centre Winchester

Coach Cafe

This is your personal invite to join the Coach Cafe on 5th February

Founder Pam Rigden says:

Coach Cafe provides a high return-on-investment (ROI). This includes the value of powerful relationships, business building and improvement ideas, learning about a variety of topics connected to professional skills, and the value of community. Sharing successes or receiving help with a challenge is often served through friendship.

When you join us you will have the opportunity to both make friends and be a friend. You will also have the opportunity to share your knowledge and wisdom; we learn together how we can serve our clients and build our businesses.

It is my intent that Coach Cafe provide a safe place and community that encourages and supports friendship, learning, and business relationships. We do that with FUN! Coach Cafe makes it safe, easy and fun for you to build your network of friends, learn what you need to be great at what you do and be more successful in business.

I am delighted that Andy Gwynn will be presenting his signature 2 Hour Workshop ‘How to win more business through your use of Linked In’ at our February event. I was fortunate enough to hear Andy speak for one hour at a networking event in the Midlands back in March. At the time I wasn’t using my LinkedIn account; in fact I wasn’t entirely sure whether I actually had one! To cut a long story short I have diligently followed Andy’s advice and implemented all of the strategies that I learned during that short session and, as a result, I have transformed my business using LinkedIn. I now have almost 4000 connections and have built relationships with a highly responsive network of Coaches across the UK. If you want more coaching clients; this one is for you.

If you would like to book or would like more information please contact Pam.

Email: pam@nlpforcoaches.com
Mobile: 0044 (0)7741 101077

And you can also book direct via this website link.

 

Future Coach Cafe dates for your diary

8th April
10th June
9th September
4th November
9th December

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More posts for coaches – 27th January 2016

Links shared on our Coaching Confidence Facebook Page

Each Monday on this blogs Facebook page I usually issue the following question and invitation:

“Have you written/seen a blog post in the past week that you think will interest other coaches? If so you are welcome to share a link here for others to also read.”

Here are links to some of the posts that have been shared for this Monday’s invite:

How emotional Intelligence can enhance coaching practices” by Gobinder Gill

You are your biggest obstacle” by Samantha Mae

Not-knowing” by Nick Wright‎.

 

thank you

Thank you to all the coaches who, by linking to these posts, have taken the time to share their thoughts, expertise and knowledge.

The Monday invite on Facebook is a regular feature so if you’ve written or read a post that will interest other coaches please feel free to share on our Facebook Page.

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TED Talk Tuesday 26th January

This week’s TED Talk clip is from an independent TEDx event:
Your personality and your brain | Scott Schwefel | TEDxBrookings

Clip length: 13 mins 05 secs

Prefer to watch via YouTube? In that case you’ll need to click here.

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