Whether you are the president of your company or the head of a major operation, at one time or another you have experienced the “lonely at the top” syndrome. If you are in a business or industry that is not experiencing constant change, if your personnel problems are minimal or if rapid technological advancements do not affect you, then you are indeed fortunate. However, most business owners and executives find themselves trying to position their companies for the future while handling day-to-day operational problems and managing the business to a reasonable profit. Today’s business climate is frenetic, with competition coming from all corners, lower barriers to entry in many industries, rapid technological advances, qualified personnel being harder to find and even more difficult to keep, and thinning management levels placing more demands on your time. Will Rogers once said, “Even though you’re on the right track, if you don’t keep moving, you’ll be run over.” So, how do you ensure that you are on the right track and that you are moving fast enough?

Your counterparts at Fortune 500 companies have numerous resources available: larger staffs, boards of directors, highly paid consultants, expensive and time-consuming seminars. However, most business owners and executives don’t have these resources in the same abundance. The traditional mentoring process has all but disappeared with the flattening out of organizations. Family and friends usually are not a recommended solution to most business problems. So where do you turn? Enter the coach, a relatively new profession that was referred to in the June issue of Inc. Magazine as “the management tool of the ‘90’s.” The business coach functions as an objective, third-party observer. He or she is a confidant who is able to offer fresh perspectives, clearer insights and constructive feedback. The coach engages clients on issues they may not want to discuss with their employees or board of directors, assuming they have one. Most coaching today is done over the phone and, therefore, is less intrusive to an executive’s busy schedule. The 30-minute to one-hour sessions take place three to four times a month.

If you are confronted with situations on which you would like additional input, I invite you to mail or e-mail those to me. In future columns, I will take three to five situations that have the broadest appeal or special interest and conduct complimentary, 30-minute coaching sessions with the individuals who submitted them. From these, we will publish one or two that are likely to be of the most interest to readers. All submissions, including any that are published, will be treated confidentially. Coaching may not be for everyone, but if you believe that a second set of experienced eyes can improve your chances for success or that getting a partner without giving up 50 percent of your business is a good investment, then submitting your challenges or situations and reading this column may be a wise and profitable decision. CDB