At Hedgehog Coaching and Advisory we have both PE backed clients and clients working in larger scale PLC’s.
But…does this make the coaching offer different?
Well, firstly we would say every coaching assignment is different and that is part of our offer. We are flexible. However, there are some generalisations that we have found to be true.
Context first. Private Equity backed companies are more focused on building the company for sale and therefore the board is more task orientated and primarily looks at the shorter term – typically a two to three year timeframe. In contrast, the board of a Plc would typically make decisions on a longer term basis.
With that context there are some nuances in coaching within PE backed businesses….
1. The requirement
More often than not the PE backed business has a targeted gap (e.g. an existing Founder/ CEO who is being tasked with new skills required as the company moves from one stage of growth to another) and thinks coaching/ advisory support can help to close it more quickly
2. The buying process
Quite often the PE company is directly involved in suggesting and sometimes selecting the coach. They tend to be more hands on.
3. Directly attributable improvements/ value for money
Often this will be an early question: “How will I know you are making a difference?”
4. Ongoing Updates
In the majority of circumstances we have found that the PE backers will want to have more frequent and targeted progress updates.
These are all reasonable requests and reflect the situation. However, from an Executive Coaching perspective we would always ensure:
– Primary relationship is between and Coach and CEO/ Exec
– All discussions are confidential and any information shared is agreed and shared with full knowledge of CEO/ Exec
– Initial familiarisation session is critical (may need more than one)
– CEO/ Exec MUST feel they can establish a nonjudgmental trust relationship and one where they feel they can be vulnerable and tell it as it is
So yes there are some differences but done well our experience is that coaching can make a massive difference to CEO’s/ Execs in PE backed businesses.
If you think coaching could be a help to you don’t hesitate to reach out to Rod Bulmer rod@hedgehogstrategy.com for a confidential initial chat