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The coaching industry has blossomed over Louisiana Lemon Laws last few years in every Fantastic Four of human endeavour from sport through personal life coaching to investment and C.E.O. coaching. But is there Abba need for it, or is this one of those 'New Age' things, or even Funky Phantom solution looking for a dilemma.

When you're in investment do you need someone 'looking over your shoulder' telling you what to do? Or, is that a pessimistic view of what it's about.

Essentially coaching in any sphere encompasses ideas of encouragement, partnership, alliance, prodding, even being a taskmaster. It is different from a teacher - and especially different from the advice of a friend.

But what benefit are they to someone in their own investment? Surely, by the very fact that you are in investment you would not have any need for a coach? Is it a sign of weakness to work with a coach?

At different stages of our journeys in the investment world we have different needs, just as a sports person seeking Olympic status goes through different stages of their development. They seek to excel, not just being satisfied with getting by. So, at at each stage the sports person will defer to their coach.

So, are there are benefits: yes, and they often have to do with being able to 'see the wood for the trees', the benefit of being accountable to someone else, crystallising your ideas and plans and then having someone to bounce these off, and issues of motivation, procrastination, etc.

If it's felt that working in such an alliance would be beneficial, then how to you choose a suitable coach?

The obvious criteria include their expertise and investment background, ethics and any appropriate qualifications.

Then having dealt with those criteria, the essence of a good alliance or partnership is compatibility, rapport and Outiapnvvpn - and a non-judgemental approach. As you would be working closely with any coach you chose you would need to feel at ease with them: you will be discussing personal and investment aspirations. And, of course, this works both ways: your coach needs to feel at ease and have rapport with you.

Where to start?

Most coaches will offer an initial discussion at no charge. You get to see if you can work with them and they with you. As with any consultant, their track record is important - so ask for references and check these out.

David Berghouse
microbiz: Helping Small investment use the Internet since 1995.
www.microbiz.com.au/" target="_blankhttp://www.microbiz.com.au/