#smecoach

Micromanagement slows businesses down. Empowerment speeds them up.

Which one are you choosing today?

Top 5 Challenges Faced by SMEs in 2024 and How a Coach Can Help 

The SME landscape in 2024 is both dynamic and challenging, presenting a myriad of obstacles for entrepreneurs. However, you don't have to face these challenges alone. A business coach can be instrumental in guiding your business through adversity. 

Today, we will explore the likely challenges SMEs will face this year and demonstrate how coaching can help them overcome them with panache. 

Keep reading to discover why business coaching may be the answer to successfully navigating your business through these tough times.https://sites.google.com/view/ethique-advisory/home

Defining the value set is as intrinsic as defining your mission and vision when it comes to building the organizational foundation. Values provide the framework for all employees within the organization on conduct and decision making. So, far we have relied on lead by example, peer influence that is exerted when you are working together in the same space to inculcate this in the new recruits. The question is –

Will the culture survive the unprecedented scenario that the Pandemic has thrown us into?

Will culture take a hit because people can’t meet in person, making it harder to solidify the shared beliefs?

Will employees still be able to use culture as a roadmap for making the right decisions in a tumultuous time?

How can you continue to build and leverage the culture while the organization is operating mostly remotely?

7 effective ways to make better Business Decisions.

In both our professional and personal life, we are constantly challenged with making the right decision.Here are a few tips that could help you make quicker and better business decisions.

Make decisions in the light of your values.Each successful business has a set of values, that provides a framework for staff to make decisions. So, when making a decision, keep only those options on the table, that align with your company’s value sets. This narrows the options to those that can be considered. As an Entrepreneur/Business owner, in case, you have not yet defined the values for your organization, you might want to spend some time to flush them out.“It’s not hard to make decisions once you know what your values are.”– Roy Disney

Seek expert advice An “expert” here being the right person, a person with knowledge and experience. Business Coach, Industry expert could be great options to explore. Expert Advice may be sought in person if you have the right connections. If not, research would be the next best thing to fall back on.

Mind Mapping Mind mapping is a visual technique to organize ideas and information. The product of mind mapping is called a mind map which is a diagram, representing a central topic branching out to subtopics that elaborate the central subject, in this case, a decision to be made. This tool is used to generate, visualize and structure ideas and aids decision making and problem-solving, by providing the user with a base to see the big picture. Mind maps can help you visualize and document all connected information to a decision, and will guide your analysis of the situation, with clear documentation of pros, cons, risks, resources and outcomes.

Ask “what if” a lot If you have multiple paths to a solution it is good to question each to fully understand its consequences and risks. By doing so, we consider all possible future occurrences and arriving at options that best fit our requirement. Therefore, making better decisions.