Category: Coach

Mastermind: The Most Effective Tools for Improving Your Business in 2018

Mastermind: The Most Effective Tools for Improving Your Business in 2018

Julie and the others settled into their seats at a small conference table waiting for the meeting to begin. Julie is a small business owner and has been coming to these meetings for the past year. She looks around the room at the other business leaders she has come to know over the past year and can’t believe how lucky she has been to be part of this group.

“This meeting changed the way I am as a leader. For the better. My business is successful because of the suggestions and ideas I have gotten in this meeting. And let’s face it, without the accountability of this meeting, I would not be where I am today.”

About a year and a half ago, Julie was selected and joined a mastermind group. Although Julie had not heard of it until she joined the Mastermind Group, Masterminds have been around for hundreds of years. In 1727, Benjamin Franklin formed a group with twelve other tradespeople named the Junto. In early 1900’s Thomas Edison and Henry Ford started a group called The Vagabonds whose members included Harvey Firestone, John Burroughs, and Warren Harding. Bill Gates, Warren Buffet, Sherly Sandberg and others all participate in mastermind groups.

A Mastermind Group is a group of like-minded individuals who work together to help each other be successful. It provides a comfortable, confidential and challenging space where participants can discuss the issues most pressing to them. Their peers will ask deep clarifying questions to understand their challenges and then provide insight based on their experiences.

Mastermind can be formed around any topic that makes sense for the participants. As an executive coach, I use masterminds to help leaders within the small business community to improve their leadership. Other people use masterminds to support first-time parents, business owners, librarians, police officers, and even coaches*.

Each mastermind runs a little different but has some common traits. Most masterminds are small groups with no more than fifteen individuals in each mastermind. This size group allows each participant a chance to experience “the accountability seat” or “the hot seat” during each session. The accountability seat gives everyone an opportunity to share their challenge and listen to the perspective of other members as they ask curious questions and provide insights from their experience. At the end of a meeting, each member commits to some action that will help them overcome their challenge.

There is power in the mastermind as it provides a variety of perspective, increases accountability and fosters better outcomes for all the individuals involved. In one of my mastermind groups, it took only a couple meetings before; I started seeing improvement in the leadership skills of the participants.

As part of my mastermind groups, I offer individualized leadership coaching to all members if they are interested. I can help them create a plan of action and hold them to it between meetings. Most participants opt-in for this as they see the benefit of having a professional coach work through their problems with them.

The longer the tenure of the meeting the deeper the participants are willing to go to improve their outcomes. In time, friendships usually develop and become part of the process to help each other grow.

There are a few organizations who do this as a business including TAB (The Advisory Board), Vistage, and CEO Focus. Each organization has it is strengths and challenges, and I would suggest researching them before joining to make sure you have the one that fits you best. In the end, I decided to run my own because I believe that I could provide a different type of experience and wanted to reach a different kind of business owner.

John Thalheimer is the Executive Director of True Star Leadership. He has a fundamental belief that every organization and every employee deserves a great leader. Since early in his career John wanted to understand why some leaders were successful and others were not. Moreover, what he found surprised him. He earned his Master’s in Organizational Leadership and is dual certified in business coaching. John is working on his book titled, The Behavioral Algorithm, the secret formula for success. He currently runs masterminds in middle Tennessee and online to help leaders within the small business community succeed.

*If you are interested in learning more or interested in joining one of my mastermind groups, please reach out to me at john@johnthalheimer.com. Also if you are a coach, please think about joining my coaching mastermind group, as the benefits will apply to you as well.

 

Are You Ready to be Coached?

Are You Ready to be Coached?

“Are you ready to be coached?”

“Yes. Of course, I am. I mean, I think I am. Is it that hard?”

Being coached is hard. You need to open yourself to change your behavior to improve your performance. Coaching is the ability to listen to another’s perspective and use that information to make internal adjustments to your behavior to better your performance. Marshall Goldsmith, the #1 Executive Coach in the World, has an exercise he taught me called the Daily Questions. In short, it is a list of behavioral changes that you agree to work to improve every day. When he gives out this assignment, he notes that only fifty percent of individuals last more than two weeks using this system. It is not difficult. The system is not time-consuming. It takes no more than ten minutes to complete. All you do is rate yourself on a scale of one to ten on this simple question for each behavior, “Did you do your best to change your behavior?”

So why do people fail in completing this simple task?

For some, it is a lack of discipline. Although the individual knows that changing these behaviors will allow them to reach their goal, they cannot find the discipline to do this on a regular basis. In fact, Marshall falls into this category. He had to hire an accountable coach who is responsible for calling him each evening to make sure he has completed this simple task. This may seem like an extreme measure but think about how important your goals are to you and what success looks like.

For others, it is hard to recognize our habitual failures. We don’t want to look in the mirror and admit that we were not able to resist that last chocolate chip cookie or do a better job delegating at work, or the ability to listen well. I fell into this category when I first tried doing the exercise, I was afraid of admitting that I was not doing my best to reach my goal and I was responsible for not being successful.

So how do we continue to improve if we can’t handle this simple exercise? The best way is to create a level of accountability that will help you move toward your goal. This can be done by asking someone to invest in your improvement, this could be a mentor, coworker, friend, or even spouse. Unfortunately, we need to remember that they are not as invested in obtaining our goal as we are.

Another way is to find a group of like-minded people who are also on the same journey as you. Your Tribe. For instance, if you are trying to lose weight, go to a gym and find like-minded people and work out together to reach your goals. Or join a mastermind group or peer advisory group that is working toward similar goals and that will hold you accountable. I am always amazed at the number and diversity of mastermind groups available to people.  (Learn more about mastermind here).

Lastly, you can invest in an accountability/personal coach to work with you to help you reach your goal. The benefits of working with a coach are that they are trained to help individuals improve their performance. They know how to ask insightful questions, open you up to what is holding you back and provide you the support you need to be successful. (Learn more about coaching here)

So, I leave you this question — Are you willing to be coached to reach your goals?

Resources:

Triggers – Marshall Goldsmith

In this book, Marshall Goldsmith shares his experience coaching executives and how they create behavior that lasts to become the person they want to be and how we can do the same. Click here for more information

Tribe – Seth Godin

In this book, Seth Godin introduces us to the importance of like-minded people and how by working together we can achieve better results than we can by working alone. click here for more information

How to Get Better at Things You Care About – Eduardo Briceno

Great Video on being our better selves. Learn the difference between the performance zone and the learning zone and by switching between the two we can start improving the things we most care about. click here for more information