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post Category: Business — Kenny Tran @ 4:27 pm — post Comments (1)

When you hear the word “coach”, what comes first into your mind? Do you picture a basketball team with a man/woman shouting out directions? Or perhaps a football team with a man/woman pacing to and fro and calling out the names of the players?

Coaching is no longer reserved to sports teams; it is now one of the key concepts in leadership and management. Why is coaching popular?

Coaching levels the playing field.

Coaching is one of the six emotional leadership styles proposed by Daniel Goleman. Moreover, it is a behavior or role that leaders enforce in the context of situational leadership. As a leadership style, coaching is used when the members of a group or team are competent and motivated, but do not have an idea of the long-term goals of an organization. This involves two levels of coaching: team and individual. Team coaching makes members work together. In a group of individuals, not everyone may have nor share the same level of competence and commitment to a goal. A group may be a mix of highly competent and moderately competent members with varying levels of commitment. These differences can cause friction among the members. The coaching leader helps the members level their expectations. Also, the coaching leader manages differing perspectives so that the common goal succeeds over personal goals and interests. In a big organization, leaders need to align the staffs’ personal values and goals with that of the organization so that long-term directions can be pursued.

Coaching builds up confidence and competence.

Individual coaching is an example of situational leadership at work. It aims to mentor one-on-one building up the confidence of members by affirming good performance during regular feedbacks; and increase competence by helping the member assess his/her strengths and weaknesses towards career planning and professional development. Depending on the individual’s level of competence and commitment, a leader may exercise more coaching behavior for the less-experienced members. Usually, this happens in the case of new staffs. The direct supervisor gives more defined tasks and holds regular feedbacks for the new staff, and gradually lessens the amount of coaching, directing, and supporting roles to favor delegating as competence and confidence increase.

Coaching promotes individual and team excellence.

Excellence is a product of habitual good practice. The regularity of meetings and constructive feedback is important in establishing habits. Members catch the habit of constantly assessing themselves for their strengths and areas for improvement that they themselves perceive what knowledge, skills, and attitudes they need to acquire to attain team goals. In the process, they attain individually excellence as well. An example is in the case of a musical orchestra: each member plays a different instrument. In order to achieve harmony of music from the different instrument, members will polish their part in the piece, aside from practicing as an ensemble. Consequently, they improve individually as an instrument player.

Coaching develops high commitment to common goals.

A coaching leader balances the attainment of immediate targets with long-term goals towards the vision of an organization. As mentioned earlier, with the alignment of personal goals with organizational or team goals, personal interests are kept in check. By constantly communicating the vision through formal and informal conversations, the members are inspired and motivated. Setting short-term team goals aligned with organizational goals; and making an action plan to attain these goals can help sustain the increased motivation and commitment to common goals of the members.

Coaching produces valuable leaders.

Leadership by example is important in coaching. A coaching leader loses credibility when he/she cannot practice what he/she preaches. This means that a coaching leader should be well organized, highly competent is his/her field, communicates openly and encourages feedback, and has a clear idea of the organization’s vision-mission-goals. By vicarious and purposive learning, members catch the same good practices and attitudes from the coaching leader, turning them into coaching leaders themselves. If a member experiences good coaching, he/she is most likely to do the same things when entrusted with formal leadership roles.

Some words of caution though: coaching is just one of the styles of leadership. It can be done in combination with the other five emotional leadership styles depending on the profile of the emerging team. Moreover, coaching as a leadership style requires that you are physically, emotionally, and mentally fit most of the time since it involves two levels of coaching: individual and team. Your members expect you to be the last one to give up or bail out in any situation especially during times of crises. A coaching leader must be conscious that coaching entails investing time on each individual, and on the whole team. Moreover, that the responsibilities are greater since while you are coaching members, you are also developing future coaches as well.

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post Category: Business, Just Personal, Kenny's Publications — Kenny Tran @ 12:51 pm — post Comments (2)

Recently, I came to know that my book (translated from I Am Gifted, So Are You book by Adam Khoo) has become one of the best-selling books in Vietnam since Dec 2007. I must say I’ve learned a lot from my journey with this book.

I’ve learned that no matter how good a book is, it won’t sell itself. If you publish a great book but just leave it for the book distributor, it’ll hardly sell. Especially, if you’re a first-time author, they’ll just leave your book at some corner in their bookstore.

Although I put lots of efforts in achieving the highest quality for my book, I knew I must do something  about marketing and sales to get it to the audiences.

What I did was first to setup a website for my book. On that website, I posted the full table of contents, many excerpts from the book, and gave away soft-copies of the first 3 chapters generously. Thus, my readers can check out not only just what my book is about but in some details as well. From there, they can make a good decision whether the book is for them or not.

In addition, I also prepared lots of complementary materials for my readers and answer all their questions either on the website or by email. Even for some students who asked me questions that are not related to my book, I still sincerely gave them the answers within my knowledge.

Although my book became one of the best-selling within only 2 months after published, there were some failures too. I failed to market the book directly to the schools in Vietnam due to the red-tape (my brother is still working to find a way to). I failed to establish a small retail shop for my book due to my location research (and I lost some money for this poor decision). Anyway, I learned my lessons and my book still became very successful.

However, that success wasn’t easy. It took lots of effort and input from my family and me. It’s also not possible without our supporting readers. And that a journey I’ll write about in my next post…

If you like this, just buy me cup of coffee. Thank you!

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post Category: Books Summary, Business — Kenny Tran @ 5:23 pm — post Comments (0)

98) JV Anything You Need - Need a room to hold your seminar? A rental car? Your hotel or airfare covered? Any expense, rental, or use of a product or service? Why not use your product or service to JV what you need. Michel Fortin used to do this with a local hotel. He would get the room for free and hold all of his seminars there, getting new leads and business. While his seminar attendees were there, they used the hotel’s business center, giving the hotel business as well. It was a win/win situation.

JP Maroney worked out a deal to get his room for free to hold his mini-seminar as well. Jay Abraham regularly did deals to get cars, airfare, you name it.

99) JV for Airtime - Yes, it’s even possible to JV with radio and television stations for free airtime for your ads and infomercials. Every radio or television station has some unsold airtime. They have to use it for something. They only need to fill a certain amount of public service time. After that, the rest of the time is used for the most profitable way they can come up with. If you present a compelling offer to them, yours may be more desirable to them. Simply find out what they want, and offer it to them for an exchange of airtime.

NOTE: This technique is done more often than you think, mostly by ad agencies and bigger companies. But even with that going against you, there is still a considerable amount of unsold time available, especially in the smaller stations. Hint: You don’t have to do the deal with only one station at a time.

100) Leverage JV with Bartering - This is another little-known technique you can
use to make your deals even more lucrative.

Let’s say that you found out that your local radio station WXXX needs a new roof. So you do a deal with the local roofing company J&J Roofing, where you trade your services for a roofing job. J&J charges $10,000 for a new roof needed by WXXX. But it only costs them $3,000 in labor and materials. The other $7,000 is profit. So you provide $3,000 worth of services to J&J, get $3,000 worth of labor and materials in result, and are able to give WXXX a new $10,000 roof for only $3,000 worth of services. Now you get J&J’s $7,000 profit.

Listen, it does work that way more often than you think. Jewelry, cars, furniture, services, and just about anything you can think of produced by a for-profit company always has that kind of leverage if you work the deal the right way.

101) “Think Outside the Box” - Yes, I know it’s a cliché. But in this case, it’s very
true and profitable. The examples I provided here aren’t by a long shot every possible technique you can use. Rather, they are designed to get you thinking in the proper “mindset.” You’ll soon see that there are more possibilities and opportunities around you that you may have not noticed before. So your job is to always be on the lookout for them. And recognize them when they do catch your attention.

Will they always be profitable? Hardly. But as you get more and more exposed to this kind of creative marketing thinking, you’ll be better equipped to spot the ones that are more frequently up front.

The best advice I can give you to that end is to try some of these ideas for yourself. Make them your own. Find out what works best for your business and which ones don’t. Read more than one newspaper each day. Read trade journals and magazines. Read what your target market reads. There’s opportunity everywhere if you know where to look.

If you like this, just buy me cup of coffee. Thank you!

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