An investment process, be it formalised or informal, be it in the context of an asset manager or an individual investor, encompasses all information, actions and decisions from data gathering through analysis down to actual investment decisions and even further, with decision and performance analysis (detailed in a separate section).
The key point is that there are naturally multiple decisions and biases through the whole investment value chain that may not be compared to a butterfly effect, but still can have a significant impact on final investment decisions and consequently performance. One can choose to avoid looking into those as long as performance is good enough, but it can be a bit like avoiding to adjust a fatty and sugary diet until one gets a heart attack while in that same moment being diagnosed with diabetes. And if one has been already diagnosed with diabetes, well, then it makes to look into the diet anyways.
Exaggerated medical parallels aside, a solid and unbiased investment process, at institutional or personal level, is key to control risk, be it too high or too low relative to one’s goals and risk profile, which over time affects performance. An external coach can help you see your processes more clearly and in a less biased way, helping you to take control of the whole process.