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Turn Economic Challenges Into Opportunities: The Power of Business Coaching

Written by spacityadmin on . Posted in Coaching, Latest News.

Introduction

Economic downturns and market uncertainties create challenges for businesses of all sizes. Declining consumer confidence, supply chain disruptions, and fluctuating market conditions can force companies to make difficult financial and operational decisions. Leaders often find themselves navigating an unpredictable landscape where traditional strategies may no longer apply. Business coaching has become a critical tool for navigating these turbulent times by providing strategic insights, leadership development, and resilience-building techniques. Through targeted coaching, business leaders gain the ability to reassess their strategies, identify new opportunities for growth, and maintain stability even in the face of adversity.

How Economic Challenges Impact Businesses

During economic instability, businesses face:

  • Declining or Uncertain Revenue: Reduced customer spending affects profitability.
  • Operational Cuts: Budget constraints may lead to layoffs and efficiency reductions.
  • Increased Competition: Companies must find ways to differentiate themselves in a shrinking market.
  • Leadership Stress: Decision-makers face increased pressure to stabilize and grow their organizations.

The Value of Business Coaching in Uncertain Times

Economic challenges often demand a shift in mindset and strategy. Business coaching provides leaders with a structured approach to analyzing risks, exploring new opportunities, and making informed decisions under pressure. During uncertain times, the ability to remain agile and proactive is essential, and coaching helps instill these qualities in executives and teams alike. Moreover, business coaching fosters a culture of resilience, empowering leaders to communicate effectively, maintain team morale, and implement innovative solutions that drive sustainable growth despite external challenges.

  1. Strategic Planning
    • Through the use of proven frameworks, leading coaches help businesses reassess their market position and develop adaptive strategies.  This can help leaders quickly pivot, embrace change and find new revenue streams.
  2. Financial and Operational Efficiency
    • By focusing on financial performance, especially cash management during uncertain times, coaches help leaders identify opportunities for cost optimization and resource allocation in order preserve capital and business flexibility.
  3. Leadership Development
    • Overall business success in uncertain times historically has come down to have strong leadership teams in place.  Coaching that deeply explores team dynamics, accountability and skill development fosters confidence, decision-making, and resilience among business leaders.
  4. Employee Engagement and Retention
    • Uncertain times also elevate anxiety levels amongst all employees, especially those in leadership roles concerned about their performance and their teams in a cloudy environment.  Highly engaged teams lean on each other in order to dampen fears and as a result are far more productive and committed during challenging periods.

Steps to Implement Business Coaching

  1. Assess Current Challenges: Identify key pain points affecting business performance.
  2. Find the Right Coach: Select an experienced professional with industry expertise.
  3. Set Clear Goals: Establish measurable objectives for coaching outcomes.
  4. Commit to the Process: Encourage leadership and employees to engage in coaching sessions.
  5. Measure Progress: Regularly evaluate the impact of coaching and adjust strategies as needed.

Why Newlogiq

Choosing the right business coach can make all the difference in how effectively an organization navigates economic uncertainty. Newlogiq brings a wealth of experience in business strategy, leadership development, and AI-driven innovation, helping companies transform challenges into growth opportunities. With a deep understanding of small and mid-sized businesses, Newlogiq tailors coaching programs to meet unique needs, ensuring leaders have the tools and insights necessary for success.

Newlogiq’s coaching follows a simple three step process:

  • Develop a Tailored Program: Our process starts by understanding your unique circumstances and challenges and developing a custom plan for you and your organization.
  • Present the Plan: We sit with you and your management team to outline our detailed plan, month-by-month, quarter-by-quarter, so that you know what to expect, as well as the outcomes we will use to track our progress.
  • You Decide to Move Forward: Following presentation of our plan, you then decide whether to hire us to implement the plan.  With our Short Pay Promise, there is virtually no risk to ensuring your success.

With a commitment to empowering businesses through cutting-edge strategies and hands-on coaching, Newlogiq is the ideal partner for organizations looking to thrive in uncertain economic conditions.

Conclusion

Business coaching is a powerful resource for companies looking to navigate economic uncertainty with confidence. It provides leaders with the necessary tools to assess risks, adapt strategies, and execute informed decisions that foster stability and growth. By refining strategy, enhancing leadership, and fostering innovation, coaching enables businesses to weather financial storms and emerge stronger. Furthermore, coaching encourages a proactive mindset, ensuring that leaders do not merely react to challenges but anticipate and prepare for them, turning obstacles into opportunities for innovation and market expansion.

Are you prepared to tackle economic challenges head-on? Now is the time to equip your leadership team with the insights and skills necessary to drive sustainable success. Investing in business coaching can provide the strategic guidance, resilience-building techniques, and innovative approaches needed to not only survive but thrive in an evolving economic landscape. With the right coaching support, your business can seize new opportunities, strengthen competitive positioning, and secure long-term growth.

Newlogiq Releases Whitepaper on Reducing Stress and Transforming Your Business

Written by spacityadmin on . Posted in Coaching, Latest News.

Reduce Stress and Transform Your Business

Jeff Oskin Headshot

Jeff Oskin

Owner

Reduce Stress and Transform Your Business

  • Are You Struggling with Your Leadership Team?
  • Is Growth Becoming a Challenge?
  • Is Your Culture Not Up to Expectation?

This paper offers solutions to help you and your family achieve better balance and success. Download now to learn how.

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Achieving Work-Life Balance Through Executive Coaching: A Summer Priority

Written by spacityadmin on . Posted in Coaching, Latest News.

Achieving Work-Life Balance Through Executive Coaching: A Summer Priority

As the summer sun shines bright, many of us can’t help but feel a sense of rejuvenation and renewal. The warmer months offer a perfect opportunity to reassess our priorities and make meaningful changes to our lives. One area that often takes a backseat during the busy winter and spring months is our work-life balance. As the pace of life slows down slightly, now is the ideal time to focus on achieving a better harmony between our professional and personal lives through executive coaching, such as those offered by Newlogiq.

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The Science of Habit Formation: How Long Does It Take to Develop a New Habit?

Written by spacityadmin on . Posted in Business, Coaching, Latest News, Leadership.

There is a widespread belief that it takes 21 days to form a new habit.

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Jeff Oskin Headshot

Jeff Oskin

Owner

Executive Coaching Aides in Habit Forming

There is a widespread belief that it takes 21 days to form a new habit. This notion is often attributed to Dr. Maxwell Maltz, a plastic surgeon in the 1950s who noticed his patients seemed to acclimate to their new faces or limbs after approximately 21 days. However, modern psychology and neuroscience have a more nuanced understanding of this process.

Breaking Down Habit Formation

A habit is a routine of behavior that is repeated regularly and tends to occur subconsciously. Habits are integral parts of our daily lives, influencing everything from our morning routines to our professional tasks. They can be good (like exercising regularly) or bad (like excessive screen time). Regardless of whether we aim to develop new habits or change old ones, understanding the timeline of habit formation can be beneficial, especially when working on habits as part of an executive coaching process.

The Myth of 21 Days

The “21-day rule” is somewhat of a misconception. Dr. Maltz’s observation was more anecdotal than empirical, and he himself stated that “it requires a minimum of about 21 days for an old mental image to dissolve.” This became misinterpreted over time, leading to the widespread belief in the 21-day rule.

The Real Timeframe for Habit Formation

In a 2009 study published in the European Journal of Social Psychology, researchers Phillippa Lally and colleagues from University College London set out to determine how long it really takes to form a habit. Over 96 participants chose an eating, drinking, or activity behavior to carry out daily in the same context for 12 weeks, while they reported on whether or not they did the behavior and how automatic it felt.

The study concluded that, on average, it takes 66 days for a habit to become automatic or habitual, but the range can be anywhere from 18 to 254 days. It’s a stark contrast to the catchy 21-day rule, and it underscores the importance of perseverance when trying to form a new habit.

Factors Influencing Habit Formation

The duration of habit formation can vary considerably depending on several factors:

  1. The complexity of the habit: Simpler habits like drinking a glass of water after waking up are easier to form than complex ones like a 1-hour workout each morning.
  2. Individual differences: People’s personalities, behaviors, and attitudes can influence how quickly they form habits. Some people are naturally more inclined towards routine and consistency, while others might struggle.
  3. Consistency: The more consistently you perform the behavior, the quicker it will become a habit. Habits form by creating a new neural pathway in your brain, and each time you repeat the behavior, you’re reinforcing this pathway.
  4. Motivation and commitment: If you are highly motivated and committed to the habit, you are more likely to stick with it, leading to faster habit formation.

The Importance of Patience and Perseverance

Regardless of how long it takes, the key takeaway is that habit formation is a process, not an event. It’s vital not to be discouraged if a new habit doesn’t stick after 21 days or even after 66 days and this is where an executive coach can really assist your efforts. By partnering with a good executive coach, they will help you focus on the progress made and help you understand that setbacks are a normal part of the process. The path to successful habit formation is rarely a straight line, but with patience, perseverance, and a good coach, the desired change is achievable.

Conclusion

Developing a new habit through executive coaching varies widely based on the complexity of the habit, individual differences, consistency in executing the habit, and one’s motivation and commitment, taking a considerable amount of time and effort. Instead of focusing on a set number of days, it’s critical to concentrate on the process of habit formation. Executive coaching should acknowledge small victories, learn from setbacks, stay patient, persistent, and track the progress, keeping an assessment chart handy to gauge the development of the habit. Whether it’s developing new leadership skills, refining business processes or enhancing communication skills, executives who commit to habit formation are more likely to achieve the outcomes they seek. Contact Newlogiq today to learn how our coaching process supports long-term habit formation.

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A Whitepaper: Executive Coaching at Newlogic

Written by spacityadmin on . Posted in Coaching, Latest News, Leadership, Whitepaper.

Jeff Oskin Headshot

Jeff Oskin

Owner

Whitepaper_Front

Many small-to-mid-sized businesses face a common challenge: the development of a strong leadership team below the chief executive. Often, individuals are promoted to leadership positions because of their exceptional skills in a particular area, but they lack the necessary formal leadership training to excel in their new role.

As a result, businesses struggle to reach their full potential, and chief executives may stress about a transition plan for the organization. At Newlogiq, we understand these challenges and have developed an executive coaching process designed to help businesses address this issue.

With years of coaching experience, we know that strong leadership is key to a company’s success. Our approach is designed to provide comprehensive training and support to leaders at all levels, helping them to grow and develop the skills necessary to drive business growth and success.

In this paper, we will outline the Newlogiq executive coaching process and its benefits for business owners and their staff. Executive coaching is a process that aims to enhance the performance and potential of business leaders, including CEOs, entrepreneurs, and executives. The coaching process is a personalized, one-on-one approach that focuses on addressing specific challenges, improving skills, and achieving goals. The Newlogiq approach is based upon the 20 bad habits as defined in Marshall Goldsmith’s book, “What Got You Here Won’t Get You There.”

To Read the Entire Whitepaper, Please Complete this Form:

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Overcoming the Challenges of Leading a Family Business

Written by spacityadmin on . Posted in Business, Coaching, Latest News, Leadership.

Introduction

Lower Frustration by Developing Your Team

Family businesses often have a unique dynamic that can be both a blessing and a curse for leadership. Specifically, family members who have grown up in the business have a wealth of knowledge and experience. They know virtually every aspect of the business and have probably done every job at one time or another. However, while this can be a tremendous asset, it can also become a burden when team members continually look to the owner for guidance. When the owner is constantly answering questions and solving problems, it makes it difficult to grow and develop a leadership team. That’s where executive coaching and leadership development come into play.

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Overcoming the Challenge of Developing Leaders in Small to Mid-Sized Family-Owned Businesses

Written by spacityadmin on . Posted in Business, Leadership.

Introduction

As a CEO or President of a small to mid-sized family-owned business, you are probably well aware of the challenges that come with developing new leaders. Perhaps you’ve struggled to find the right person to take over the reins of the family business or have found it difficult to get your employees to take on leadership roles. Whatever the case may be, developing leaders is essential for the success and longevity of your business. In this blog post, we will explore some of the challenges faced by small to mid-sized family-owned businesses when developing leaders and offer some insights on how to overcome them.

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