executive coach

The Leadership Challenge: Developing Leaders at No/Low Cost – 5 Options

May 19, 2015 By Sam Palazzolo, Managing Director

The Point: Leadership Development can be an expensive proposition. With most options starting at $50k, what’s an organization to do that is looking to generate tomorrow’s leaders today, or for the up and comer who’s organization doesn’t offer any type of development program? (Hint: If you’re at an organization that doesn’t offer leadership development and it’s important to you, you’re probably at the wrong place!) In this post we take a look at five (5) no or low cost options for organizations or individuals that are searching for leadership development options… Enjoy!

We Develop Our Leaders (Don’t We?)

Jim’s organization was a lot like most fairly new ones that successfully had gone through the “startup” moment of ideation, creation, launch pad through lift off. While they were currently in year five (5) of their initiative, annual revenue was now approaching $100M and along with revenue growth personnel increased as well. He was at the point in their organizational growth where they wanted to continue to live in the “startup” moment, but insure that tomorrow’s leaders were being recruited/cultivated/developed today.

However Jim and the organization had the leadership challenge of the century… They had no clear Human Resources department nor any type of leadership development program. With this in mind, Jim and his leadership team setout to develop the following five (5) no/low cost leadership development options.

Option #1: Individual Development Plans with a Leadership Component

Typically, and Jim’s organization isn’t different from most, an organization will establish Individual Development Plans (IDPs) on an annual basis. These IDPs typically consist of the individual’s goals in reference to those of their team’s, department’s and organization’s. Think of it as an “If we need to get there, we need you to do ___” coordination moment.

Where Jim’s organizational IDPs took a hard-left turn was in the implementation of leadership development components therein. In other words, if you want to grow leaders, you need to be able to provide goals to do so that are akin to the goals that you typically establish. More important, these IDPs should be reviewed on a monthly basis so as to avoid the once a year “surprise” that one typically experiences.

Option #2: Free Online Courseware

Isn’t the internet wonderful? As a leader, you probably have some differing thoughts on just how “wonderful” it is. Jim for example was often frustrated by his employees and their ability to engage in non-productive work on sites like Facebook and games like Angry Birds. Recognizing that there still could be some good that comes from the internet and its ability to aid in leadership development moments, we implemented a series of “Leadership Development” courses from sites like Coursera (www.coursera.org). These courses typically are free, and some offer a low fee option to receive certification.

Option #3: Free Executive Coaching

The International Coach Federation – ICF (www.coachfederation.org) offers something akin to the ability for you to get a free haircut at a barber college. The ICF offers a “Coach Referral Source” wherein you can specify the type of coaching you’re interested in (Business Coaching, Executive Coaching, etc.) and begin receiving proposals from coaches across the globe! Sometimes you can secure a free coaching relationship, but just like that haircut from the barber college, sometimes you get what you pay for (Remember, hair will grow back… Your career might not!)

Option #4: Leader as Mentor

Sometimes the best leaders are at your company. If that’s the case, and who wants to admit that you don’t have the best leaders, holding leadership responsible for mentoring a finite quantity of individuals may be just what your organization is looking for.

Keep in mind that most organizations that offer mentoring programs do so in a very ineffective “organic” or “unstructured” capacity. If you’re going to offer a mentoring program, important to keep in mind that this needs to be more than just lunch every once in awhile. Structuring the mentor program around goals/objectives/learning moments is crucial.

Option #5: MasterMind Group

What if leadership development program participants (or leaders for that matter) were able to gather around the table (either real or virtual) to discuss their biggest problems and receive perspective on potential solutions? If the meetings are held in a confidential environment and open/honest feedback is provided, and members held other members accountable for taking action based on what they heard nothing!

From my time at Vistage (www.vistage.com), both as a member and working at their world headquarters in San Diego, I saw firsthand the benefits of such gatherings. At Tip of the Spear, we’re piloting a program next quarter called The Leadership Advisory Board (or “LAB” for short) that has many of the same features, and a few new/unique ones (If you’re interested in finding out more and/or participating, use the CONTACT US page of this website to inquire).

SUMMARY

So you might not have $50k to spend on each leadership development candidate in your organization. I hope in this post I’ve identified five no/low cost alternatives for you to pursue. Remember, your business is no different from the others inasmuch the people will make the difference. Investing in your people today will continue to drive business results tomorrow, but those investments don’t always need to be costly.

Sam Palazzolo

PS – You may also enjoy some of the other recent posts I wrote:

What You Should STOP Doing As A Leader – Part VI

April 2, 2015 By Sam Palazzolo, Managing Director

The Point: While there are a gluttony of behaviors/actions you should be doing as a leader, we thought it would be interesting to take a typical Tip of the Spear contrarian view of what you should STOP doing as a leader. As such, the following seven (7) part series was developed based on executive coaching conversations had with leaders. In reviewing these leadership behaviors/actions, see if you see a little bit of yourself in the examples provided (No doubt you know several leaders besides yourself guilty)… Enjoy!

Crushing Creativity

An associate comes to you with a “new” idea that they want to implement. This idea represents their view on how things could be better (Read that as reflecting operational improvement efficiency, higher revenues, decreased expenses, increased customer advocacy, etc.) When this new idea is presented to you, what do you do? If you’re like most leaders, you ask the question “Why?”

In Centered Executive Coaching sessions I frequently talk with leaders about how it is that they cultivate creativity. After all, you do want new/exciting ways to do things in your organization, right? In session after session, conversation with leaders across borders/cultures, typically the response comes back regarding the first question asked as “Why?” While you’re attempting to get to the heart of the matter, or reasoning, what your stakeholders hear instead of the curiosity of your question is “Defend yourself and your position which isn’t good.”

Implementation Effectiveness

Implementation effectiveness is a simple mathematical formula I developed that has (A) the quality of the concept/idea multiplied times (B) the commitment level to implement. Now the quality of an idea can be quite difficult to measure, but let’s base success criteria off of key performance indicators that have traditionally working in the past as well as other items that need to be considered because of the innovation. Commitment level consists of the individual’s ability to see things through to implementation/feedback loop. Keep in mind that this too can be challenging, primarily because implementation may/may not consist of the individual alone (in other words, there might be actual “leadership” moments where they’ll have to get others to follow along!)

Leadership Pause – Stop, Breath, Speak

So if your stakeholders are put on the defense immediately through your use of the question “Why?” what should you do? In researching the effectiveness of interviewing questions, the suggested decreased use of “Why?” should be replaced with anything but! Try using any of the other 5 W’s and H instead.

Along with this new interviewing style, as a leader it is important to break, or pause, take a deep breath, and think before you speak.

Too often I encounter leaders that simply want to rush to judgment when it comes to creative ideas that are submitted. Part ego driven (As a leader, you do have your ego under control don’t you?), and part “best interest” focused moments of creativity soon become disengagement areas for your stakeholders, and a “Why bother?” attitude prevails.

SUMMARY

So in this post we covered that leaders should stop crushing their stakeholders creativity through asking questions that rob the individual. Instead, encourage creativity through the proper use of interviewing and implementing the Leadership Pause – Stop, Breath, Speak (Don’t forget to Think before speaking!)

Sincerely yours,

Sam Palazzolo

PS – You may also enjoy some of the other recent posts I wrote:

Sam Palazzolo is the Managing Director at Tip of the Spear Ventures, an agile Venture Capital and Business Advisory Services firm specializing in Executive Coaching, Leadership Development, and Communication Skills Training for Leaders.

10 Criteria for Selecting an Executive Coach

October 17, 2014 By Sam Palazzolo, Managing Director

The Point: It’s lonely at the top. Ask any CEO and s/he will confirm. As a CEO, you are supposed to know all the answers, and even the slightest mishap from your end can cause you to lose your position as the C-suite executive, no matter how hard you have worked to get there. This is why the CEO is in need of coaching and leadership advice. However, studies show that more than 60% of CEOs do not receive executive coaching. The trend needs to change. But how will you select the “right” executive coach to work with, and is there such a thing? The following are 10 ways in which you can find the best centered executive coach… Enjoy!

#10 Ask for A Test Drive

One way to find out if a person is fit for the executive coaching job is to ask for a walkthrough of the leadership development process via a test drive. This usually includes a starting point, identifying key issues to be addressed, and the goals to be achieved. The coach should be able to give you specific scientific (or a flavor) for how they employ methods that will be relevant to your situation.

#9 What Coaching Methodology?

This follows from the previous point. It should be clear from the onset what kind of feedback, tools, and methods will be used. A mark of a good coach is that they listen more than they speak in order to identify which areas of your CEO-persona are most in need of immediate improvement. Also important is to identify if they are able to suggest/explore the best in class strategy development to achieve such changes.

#8 Feedback – Coaching or Conversation?

Feedback is an integral part of executive coaching. Sometimes all a CEO needs is someone identifying their blind spots. Of course, the coach will help you in this respect, but they will start by gathering feedback of what the team members and board of directors think about you. This stakeholder input is crucial to engagement success, and long-term sustainment.

#7 More than a Sounding Board

All leaders need someone they can confide in and who can act as their sounding board. However, if that is all that your prospective coach is claiming to offer, it is better not to hire him. Put another way, you want more than just a 1-sided conversation to take place if you expect results (and you better expect results!)

#6 Confidential Information – To Share or Not To Share?

This is a no-brainer. The coach needs to ensure 100% confidentiality regarding what happens during the coaching session. Working with a coach that doesn’t guarantee confidentiality could be a potential career-threatening move. Keep in mind, in the event your organization is sponsoring the initiative, they will expect to get updates regarding your progress. Simply put though these “sharing moments” should be done at a high-level (think 30,000 feet!)

#5 Track Record of Success

All the above-mentioned factors are essential, but they amount to nothing if the coach cannot refer to successful clients serviced.

#4 Testimonials

When selecting executive coaching services, always ask for testimonials of past (or even existing) clients. Most importantly, follow up with this cadre of clients to find out what they experienced positive, negative, and if they had to do over again if they would. This will show just how result oriented the coach really is.

#3 Accountability

This is an important point in leadership development. You should either hire the services of the coach on a personal basis, or use company funds under your discretionary control. If the coach is being paid by the organization, then you’ll need to ensure that loyalty and accountability lies with the organization as well as you as the leader (In our Centered Executive Coaching engagements where this is the case, we typically refer to this as a “triangular” relationship between coach, coachee, and sponsoring organization).

#2 Monitoring Progress

Only a genuine coach will explain to you strategies that will be used to measure improvement in your behavior during and after the coaching program is over. In our Centered Executive Coaching programs we typically initiate the sessions by structuring a dashboard of key performance indicators (KPIs) or important metrics to measure/review at periodic intervals throughout the engagement.

#1 Compatibility

Finally and most importantly, make sure that you have the right chemistry with the coach you are hiring. Ideally, look for a coach that offers a complimentary session so that you can ensure that you are comfortable with the coach selected.

Summary:

The CEO of today works alone. They may collect all the praises, but then they also get all the blame. Only a sound leadership coach can help them ensure long-term success, which is why it is essential to choose the best one.

If you’d like more information on Tip of the Spear’s Centered Executive Coaching offerings, please use the CONTACT US page of this website.

What Superman (or Your Executive Coach) Would Tell You You’re Doing Wrong as a Leader

August 7, 2014 By Sam Palazzolo, Managing Director

The Point: You’re not Superman… So how can you achieve extraordinary results day-in and day-out? Centered Executive Coaching helps organizations achieve goals and move forward by empowering their leaders. However, even the best coach in the world cannot help you if you are not receptive to constructive criticism. A key trait of leadership is to admit ones own weakness(es). In the following post, we’ll take a look at the key problems that an executive coach may identify in your personality traits as a leader and how you can improve them… Enjoy!

Looking for a Temporary Solution to a Permanent Problem

In the corporate world, some problems are ‘permanent’ in that they keep recurring from time to time. Examples include office politics, financial loss, and external threats like lawsuits and mergers. There is no temporary solution to these problems! However, you can effectively manage them without exacerbating yourself. Only an experienced executive coach can help you understand this distinction so that you are not focusing your energies on unrealizable goals.

Downplaying your Abilities

Following from the previous point, an executive is seldom free from internal or external business pressures. However, some executives make their situation even more complicated with negative self-talk. They start to doubt their abilities and question their very role in the organization. A leadership development and/or executive coach helps you to identify your strengths so that you can leverage them to overcome problems, while identifying issues so that solutions can be sought. Sometimes, all you need is an honest assessment of your skills, which is a core aspect of executive coaching.

Doing a Balancing Act

Nothing strains your capacity as an executive more than the mistake of balancing everything on your shoulders. For example, you simultaneously want to become a better planner, eloquent speaker, and efficient manager, while also trying to improve work-life balance. However, having your focus on several things can easily drain your motivation so much so that you fail to make any progress. Results-oriented executive coaching helps you identify each area that needs development, and then tackle them one-by-one for better results.

Taking your Time and Energy For Granted

This follows from the previous point… Some executives think they are Superman. They have a reservoir of time and energy, due to which they say “Yes” to everyone and take responsibility for virtually everything that happens in their company. This is a crucial mistake! Your executive coach will help you prioritize your task, help you manage your time, and boost your confidence to say “No” and delegate more often.

Summary

To sum-up, there are serious behavioral issues that hinder the success of executives, and thereby their organizations. I’ve seen how leadership development and executive coaching can help leaders understand those areas that need improvement so that they (and their businesses) become more efficient (and profitable!)

To learn more about Tip of the Spear’s Centered Executive Coaching programs, CLICK HERE.

10 Tips to Successfully Find an Executive Coach

August 5, 2014 By Sam Palazzolo, Managing Director

The Point: We have a client that shared their frustrations in their search for an executive coach. Their story went something like “So many coaches… So little time!” With little/no barriers to entry, no coordinated/consistent professional body providing certification credentials, and every Tom, Dick and Harry calling themselves a coach… We feel your pain at Tip of the Spear! With a deep bench of professionals that have not only “been there” but have “done that” we’d like to think that we’re a different type of Business Advisory Services firm. So if you’re looking for results-oriented executive coaching that can help you take a step back and redefine your approach to become a better manager and leader, you’re in the right spot! In the following post, we brainstormed 10 tips to successfully find an executive coach… Enjoy!

Tip #1: Life Coach vs. Executive Coach

Not all coaches can fulfill the role of the executive. Some coaches are well intentioned folks that have a passion for motivating you in the right direction from a “personal” or “life” perspective. They work more on your personal growth. However, executive coaches hired by our firm focus more on professional development areas that you and your company have identified as essential to your success.

Tip #2: Clarity in All Things

A good executive coach is one that is able to explain his/her processes clearly. S/he will identify goals with you and define action plans on how you can achieve them. Along the way during coaching conversations, they’ll share first/second-hand perspectives that will aid you in framing your desired outcomes.

Tip #3: Customized Approach

There is no “one-size-fits-all” approach when it comes to executive coaching, simply because business challenges vary from company to company and from individual leader to leader. You may get referrals from other leaders in your industry, but what worked in their firm may not work in yours. Hence, look to hire a coach that best suits you/your organization’s needs rather than just hiring on the basis of experience and testimonials.

Tip #4: Expanding Vision

Following from the previous point on Customized Approach, the executive coach you hire should identify problems in your professional space and offer unique perspectives and solutions. They should be able to explain how their services will benefit you/your organization instead of quoting random case studies and statistics of how centered executive coaching helps businesses.

Tip #5: Test Before Hiring

Depending on your agreement, you will be spending significant time with your coach (Our typical engagement lasts 12-months). So instead of directly hiring a coach, we always recommend spending an hour with a coach to see if you actually “feel” comfortable around them or not (Think of it as a “test” drive!)

Tip #6: Never Settle

Many executives dread the coaching experience. That is why they will say yes to any coach that their company recommends. But this is a mistake. Settling is never worth it. You should thoroughly interview every coach you shortlist, and take second opinion if possible.

Tip #7: Detailed Answers

Anyone can memorize an article like the one you are a reading right now and quote a fact or two about executive coaching. However, a pro will be able to give you in-depth information and explain their coaching processes and how they will help you tackle specific issues. If the coach you are interviewing is regurgitating generic information, you are better off without them!

Tip #8: Confidentiality

This is perhaps the most important point. Never work with a coach with whom there is even a slightest suspicion of business information going outside your conversation (worse yet, outside your organization!)

Tip #9: Real Results

Effective Centered Executive Coaching enables clients to better themselves (Leader Centered Coaching), their constituents (Stakeholder Centered Coaching), and their organizations (Business Centered Coaching). Good coaches help their clients understand how they can best contribute to success, and achieve better results so as to climb up the corporate ladder. If a coach can’t point to actual clients with whom they achieved real results, don’t hire them!

Tip #10: Who is the Star of the Show?

Finally and most importantly, you should never work with a coach that makes themselves, and not you, the star of the show. Professional coaching certifications are a given (For example, the International Coach Federation’s Certifications – See them by CLICKING HERE. Keep in mind, the job of a Centered Executive Coach is to help you become better as outlined in Tip #9 (Real Results).

If you’d like more information on Tip of the Spear’s Centered Executive Coaching offerings, CLICK HERE.

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