Does your SME need an NED or a business coach?

It’s common for small and medium enterprises (SMEs) to reach a stage where they seek professional support to help them scale and grow. But this support can take many forms. While many SMEs go down the route of appointing a non-executive director (NED), UK sales transformation specialist Sales Talent argues that appointing a professional coach could reap greater rewards.

“The value of mentorship is well established. Mentors can help business leaders to assess and enhance their skills and to shape the future of their company in a way that maximizes its potential. What’s key is accessing the right kind of guidance. For some SMEs, that will mean appointing an NED, but others will derive greater benefit from coaching.”

Paul Owen, MD, Sales Talent

One problem that many SMEs run into when appointing an NED, according to Sales Talent, is finding the right person to support them. An individual who has successfully grown their own business may have achieved that success due to the brilliance of their product or their marketing campaign. They will not necessarily be an excellent all-rounder who can support with skills development and strategy. They may also not be an experienced mentor.

Business coaches, on the other hand, will have proven credentials when it comes to supporting leaders to develop their skills. Those who are well experienced can deliver advice based on work across a range of sectors. Their input can therefore be broader, as they support SME leaders to scale and tackle a wide range of issues that could be acting as blockers for business growth. Coaches can also take a more dynamic, hands-on role in supporting leaders to develop, when compared with traditional NED arrangements.

It’s something that an increasing number of businesses are realising, leading to the rapid growth of the coaching industry. According to the International Coaching Federation, the sector is expected to grow from a value of $15 billion in 2019 to reach an estimated $20 billion this year.

“Working with the right coach can be transformative for individual business leaders, entire teams and companies as a whole. But it does need to be the right coach. SMEs should invest time into finding a suitably qualified and experienced individual, of course, but they should also assess potential coaches’ interpersonal skills. Coaches need to gel with the people they’re working with if everyone is to get the very best out of the arrangement.”

Paul Owen, MD, Sales Talent