What is an ‘expert business coach in residence’?
There are artists in residence, writers in residence and composers in residence… so why not a business coach in residence?
Being a business coach in residence is like being part of a human library of business skills that can be accessed through a ‘triage’ system allowing for the signposted coachee to book in set timed sessions over a key time frame…
Unlike a final show and tell of art made during the residency the outcomes are measured in the progress made by the Founder being coached using an assessment framework alongside the personal and business goals of the Founder.
Imperial Enterprise Lab - Imperial College London are among a few innovation driven, forward thinking entrepreneurial institutions investing in embedding industry experts into the enterprise ecosystems.
It’s a commitment to ‘greenhousing’ their students, graduates and academic partners with seasoned professional business advice and guidance to grow new ideas, products and services that seek to change our world.
Having been an Entrepreneur in Residence at London South Bank University for 7 years I understand the value add of being there for budding and scaling entrepreneurs right at the times when blockers, burn out and rejection feel like the end of the road.
In my experience key benefits for students, graduates and academics from being able to access business coaching and other professional support such as legal, IP, commercialisation, marketing and investment advice are;
Have an external professional listening ear to road test out ideas and speak to concerns Founders may have about their start up or scale up - it is still so true that we often can speak more openly with perceived strangers than those we work or live closely with. The power of being listened to deeply and asked open, solution focused questions has huge benefits
Access to new avenues of commercial advice to align with academic research in early stages of testing - knowing how viable a new business idea is key whilst also being encouraged to play with ideas and experiment with failing forward
Team leading tools and strategies can be shared in ways that a Founder can take on board and implement alongside being a rising expert in their field of studies and research
Mental health and overall wellbeing support can be delivered in more relaxed settings alongside developing a new or growing idea. Every expert in residence will have their own lived experience of navigating their career and field of play through rejection of ideas, lots of interpersonal challenges and learning how to have the stamina to stick the course
Widening networks for Founders as each professional brings their own network to the table and through building a strong partnership, if appropriate and ethical, introductions can be made.
BIGGER PICTURE
For organisations and institutions considering investing in experts in residence, the return on your investment is worth the time, money, people and tech set up.
The two-way street such programmes open up for entrepreneurs and professionals is a huge value add too. So often when scaling a business consultancy, venture or career the old adage of who you know and work alongside still holds huge weight and still opens so many more doors.
Being alongside students, graduates, academics and the enterprise teams leading such innovative schemes count as some of the richest times of learning and growth for myself as a Founder, coach and human being.
Building a relationship that builds each partner in the partnership up makes for wins all around.
USEFUL LINKS
Imperial Enterprise Lab Expert in Residence programme via https://www.imperialenterpriselab.com/services/x-i-r/
From the archive - LSBU Entrepreneur in resident article with Anna B. Sexton https://www.lsbu.ac.uk/stories-finder/entrepreneur-in-residence-anna-sexton
