Background
Michael Watts engaged Emergination for business coaching in 2020 to help execute his vision for ToBe Advisory, centered around providing services to help business owners balance purpose with profit, through practical approaches to ESG (Environmental, Social, Governance). However, at the outset, his business model and vision needed additional clarity and definition. This case study highlights the process engaged with Michael showcasing the pivotal role of values, strategic planning, assessments, and accountability in shaping the business’s success.
Defining the Values, Vision, and Purpose
At the start of this journey, Michael’s vision needed a solid foundation. The first step was to develop a values, vision, and purpose that resonated with Michael’s beliefs about what constitutes an exceptional organisation. Michael’s extensive experience, including working for Wesfarmers, shaped his conviction that successful companies should serve not only shareholders but also stakeholders, the environment, and uphold principles of good governance, with his particular strength being in governance.
Strategic Planning Process
The subsequent phase involved crafting a strategic plan that aligned with the business’s vision. This encompassed a strategic planning workshop, dissecting various facets, such as strategy, solution offerings, pricing, sales processes, operations, and finance.
Harrison Assessment
To enhance self-awareness and better understand the person behind the business, a Harrison Assessment was conducted. This assessment not only benefits a coach in tailoring support but also empowered Michael with profound self-insight, which proved instrumental in maintaining motivation and pursuing set goals. It assisted Michael in realising his preference to operate as an independent freelance expert, rather than building a traditional consulting firm.
Getting the Offering Right
Significant efforts were dedicated to refining Michael’s service offerings. Early on, the market maturity and understanding of the benefits of being purpose-driven and implementing effective ESG was limited. Given the intangible nature of services, especially in a nascent market, an approach was taken to productise the services, simplifying the sales process. This clarity in product offerings allowed prospective clients and referral partners to comprehend the model, thus enhancing the effectiveness of the sales process.
With a defined product solution, the next step involved developing a value proposition to position Michael effectively in the market.
Thorough work was undertaken on the sales process, including identifying the target market specifically, and the right types of organisations within the not-for-profit, small to medium business, and privately held sectors. Understanding the value delivered to these organisations was crucial, with the mindset of the clients being a critical factor in determining their fit for the service.
Tracking Progress
A sales tracking process was introduced, serving as a cornerstone of the coaching engagement, supported by Mindshop Online for action tracking. This system facilitated monitoring sales and project progress from inception to completion, together with a Customer Relationship Management (CRM) system.
Weekly Accountability
To maintain momentum and focus, weekly accountability calls became an integral part of the coaching process. These calls aimed to determine the upcoming week’s priorities and ensure that high-priority activities were being completed. Additionally, these calls proved invaluable in identifying any roadblocks hindering the completion of strategic actions. Often, owners find themselves stuck due to uncertainties about how to proceed, leading to procrastination. The accountability call process helped channel energy towards completing the right actions, minimising the frustration that can arise from feeling stuck.
Michael attests to the value of these accountability calls, finding them instrumental in setting an energetic tone for the week ahead.
Client Testimonial
“Emergination’s guidance and support have been transformative for my practice. Through a well-defined strategic plan, enhanced self-awareness, and streamlined processes, we’ve been able to chart a clear path towards our vision. The weekly accountability calls have been a game-changer in maintaining focus and overcoming challenges. Emergination’s coaching has been instrumental in shaping my practice into what it is today.” – Michael Watts
In conclusion, the partnership between Michael and Emergination exemplifies how values-driven vision, strategic planning, assessments, and accountability can catalyse the transformation of a business. Michael Watts’ journey with Emergination underscores the significance of clear purpose and effective execution in achieving success in the realm of ESG and balancing profit with purpose.
