When entrepreneurs step into their first leadership role, it is a perfect time to consider coaching and training to support the transition.
Here are eight questions and answers that rising entrepreneurs may have about entrepreneurial leadership coaching.
What Is Entrepreneurial Leadership Coaching?
An entrepreneurial leadership coach is a qualified professional who works with entrepreneurs to help them achieve their development objectives, clarify goals, gain self awareness, unlock their potential, and provide guidance.
Some coaches believe that they should refrain from giving advice or solving their client’s problems to let the coachees discover their own solutions.
However, this is often considered as an excuse for not having any practical experience.
Specialised programmes in coaching, such as from the University of Cambridge, teach that coaches are not therapists but indeed coach, consult, train, and provide their point of view depending on the situation or when specifically asked for it after hearing the coachee’s suggestions.
What Exactly Does an Entrepreneurial Leadership Coach?
Entrepreneurial leadership coaches provide a confidential, non-judgemental, and supportive environment for their coachees.
They ask questions, challenge assumptions, help to provide clarity, and often provide resources, training, and frameworks, which is especially useful as only 1 out of 5 leaders possess formal leadership and management training.
They may also help interpret behavioural assessments and shadow the entrepreneurial leaders during their work and/or meetings to help them gain more self awareness of habits and behaviours to then establish further action plans.
What Does It Take to Become an Entrepreneurial Leadership Coach?
Anyone can call themselves an Entrepreneurial Leadership Coach.
However, it is recommended to work with coaches who were entrepreneurial leaders and have actually been there and lived through the tough challenges of leadership and management.
There is no required certification to be a coach.
It is advised to work with someone with a formal training that is approved by the International Coach Federation (ICF) as an official certification.
However, other training providers, such as the University of Cambridge, offer equally sophisticated programmes.
Who Hires Entrepreneurial Leadership Coaches?
Most rising entrepreneurs invest in themselves to learn advanced behaviours and best practises on mindset, time management, marketing, human resource management, entrepreneurial leadership, and to receive tools to transform into effective entrepreneurial leaders.
While some entrepreneurs may took leadership and management programmes before, most entrepreneurs lack this training and greatly benefit from working with entrepreneurial leadership coaches.
What Does a Typical Entrepreneurial Leadership Coaching Process Look Like?
While there are many variations, entrepreneurial leadership coaching involves an initial assessment through guided exercises, goal setting, action plan development, and then progressing through the development plan, with periodic check ins with the entrepreneurial leader.
The duration of a coaching engagement is three to twelve months, with weekly, bi-weekly, or monthly check ins, depending on the set goals and the requirements of the entrepreneurial leader.
What About Confidentiality in Entrepreneurial Leadership Coaching?
When it comes to entrepreneurial leadership coaching, conversations are completely confidential between the coach and coachee.
Does Entrepreneurial Leadership Coaching Have to Be in Person?
Face to face coaching is ideal, given that so much or communication is non verbal and it helps in building rapport initially.
However, it is becoming more common to coach over the phone or video calls as an alternative and still effective option.
How Much Does Entrepreneurial Leadership Coaching Cost?
The Personal Development Industry is currently worth £9.5 billion and is expected to rise at a staggering rate of six percent per annum.
The median range for an entrepreneurial leadership coach is between £250 and £500 an hour, however, coaches often offer a fixed programme fee.
About Claudio Marseglia
Claudio helps rising entrepreneurs become effective business leaders by teaching a proven system of best practises.
He is the creator of Entrepreneurial Leadership and teaches advanced behaviours and best practises on mindset, time management, entrepreneurial marketing, entrepreneurial human resource management, entrepreneurial leadership, and provides tools to, amongst others, lead effective team meetings.
His programme that makes other leadership and management programmes redundant.