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An Entrepreneur's Guide to Finding a Coach
This guide offers insights for entrepreneurs seeking coaching support, emphasizing the importance of finding a compatible coach to enhance leadership capabilities. It outlines the coaching process, criteria for selecting a coach, and distinguishes between coaching and therapy. Additionally, it provides a comprehensive look at the coaching toolbox, pricing structures, and ROI associated with effective coaching engagements.
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An Entrepreneur's Guide to Finding a Coach
- 1. An Entrepreneur's Guide toFinding a Coach Steve Schlafman HighOutput.co March 2020
- 2. One who buildsa complex human system while riding an emotional roller coaster. en·tre·pre·neur | ˌän-trə-p(r)ə-ˈnər Entrepreneur
- 3. "Every famous athlete,every famous performer has somebody who’s a coach. A coach really, really helps." Eric Schmidt, Former CEO of Google
- 4. DISCLAIMERS • This guideis far from de nitive • Its contents are curated from a variety of sources • This was designed with startup leaders in mind • There are many perspectives, this is just one • I couldn't include every coach and organization • I hope to evolve this guide over time BEFORE WE GET STARTED, PLEASE KEEP IN MIND
- 5. I designed thisguide to help you navigate the opaque world of coaching and nd a great coach. PURPOSE
- 6. Contents 1. About 2. Coaching:An Overview 3. The Coaches Toolbox 4. Process & Fit 5. Coaches & Organizations 6. Pricing & ROI 7. Other Resources 8. Contact Info 07 11 23 32 55 76 84 92
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- 8. Steve Schlafman FOUNDER COACHAT HIGH OUTPUT & ANGEL INVESTOR "My mission is to help founders bring their wildest visions to life and evolve into extraordinary leaders." OPERATOR INVESTOR COACH
- 9. A BOUTIQUE LEADERSHIPDEVELOPMENT COMPANY BASED IN NYC 1:1 Coaching Workshops 360 Reviews • Vision & Roadmap • Bi-Weekly Sessions • Ad Hoc Calls & Texts • Exercises & Content • Mission & Values • Team O sites • Post Mortems • Leadership Salons • 360 Assessment • Results & Report • Development Plan • Accountability High Output
- 10. BALANCING THE INNERAND OUTER GAME OF ENTREPRENEURSHIP Emotional Regulation Energy Management Self-Awareness Parts & Shadow Needs & Values Vision Interpersonal Dynamics Managing & Motivating Habits & Productivity Systems & Process Planning & OKRs Decision Making Inner Game Outer Game The Approach
- 11. 2. Coaching: AnOverview
- 12. COACHING DEFINED A thought-provoking and creativeprocess that inspires leaders to maximize their personal and professional potential. Source: Adapted from the International Coaching Federation
- 13. • Help leaderbecome self aware, widen perspective and nd motivation to: • Make their own choices • Change behavior • Take actions to achieve goals and improve results • Focus on the now and leader's preparation for a new future; it does not dwell in the past • Help the leader learn rather than teach them WHAT IS COACHING? Source: International Coaching Federation THE ESSENTIALS
- 14. • Coach facilitatesdevelopment by helping leader: • De ne and focus on desired goals • Investigate current situation - consider opportunities and implications • Brainstorm alternatives and courses of action • Decide and develop an action plan • Create accountability and support HOW IT WORKS Source: Beacon Executive Search & Coaching (2015) THE COACHING RELATIONSHIP
- 15. • Resourceful: Believeleaders are inherently wise and resourceful • Wholeness: View leaders as whole and complete • Diversity: Honor the full diversity of experience • Freedom: Believe leaders have freedom to choose their response to any given situation • Integrity: Create a psychologically safe space • Possibility: Believe more is possible than on surface CREATING A CONTAINER FOR POWERFUL COACHING PRINCIPLES OF COACHING Source: Coaching For Transformation (2011)
- 16. • Business Focus:Understand key business initiatives and situations directly relevant to the leader • Partnership: Support leader and key stakeholders • Systems Perspective: Aware of larger organizational structures and objectives • Results Orientation: Focus on desired outcomes • Skills Acquisition: Support leader in growing professionally CREATING A SPACE FOR BUSINESS LEADERS TO GROW Source: Adapted from the Executive Coaching Handbook, Sixth Edition (2015) PRINCIPLES OF EXEC COACHING
- 17. • Creating asafe, supportive environment • Asking empowering questions vs giving advice • Respecting client’s perceptions and learning styles • Facilitating goal setting • O ering support for new behaviors and learning • Challenging limiting beliefs • Creating accountability structures • Sending notes and action items post session THE COACH IS RESPONSIBLE FOR ROLE OF THE COACH Source: Coaching for Transformation (2011)
- 18. • Preparing wellfor each session • Taking responsibility for the outcomes • Expressing what’s working and not working • Examine own behavior, perceptions and decisions • Making requests to redesign the relationship • Showing up as whole self • Stepping fully into the coaching process • Committing time to complete action items THE CLIENT IS RESPONSIBLE FOR ROLE OF THE CLIENT Source: Coaching for Transformation (2011)
- 19. COACHING VS THERAPY Source: DanielWeil, DNW Associates (2018) CoachingTherapy Past An approach that examines your past, with a focus toward healing, to make you whole and bring you to the present. Healing Trauma Addictions Mental Illness Focus on Healing Present This approach works right now and moving forward. There is nothing to x. You already carry inside you, everything you need to accomplish your goals. Potential Possibilities Deeper Learning Transformation Clients Co-Create Their Own Learnings, Solutions & Actions Future Decision Making Accountability Action Leadership
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- 21. Source: Executive CoachingSurvey, Stanford University and The Miles Group (2013) WHY CEOS HIRE A COACH
- 22. $15B BUSINESS COACHING MARKETSIZE IN THE UNITED STATES Demand for coaching is at an all time high. A variety of tailwinds will propel its growth in the next decade. ANNUAL GROWTH RATE FROM 2014-2019 5.6% AVERAGE HOURLY RATE UP 11% SINCE 2017 $398 Source: Ibis World, Business Coaching Industry in the US (2019)
- 23. 3. The CoachesToolbox
- 24. Every coach isunique with diverse skills, training, lived experiences and cultural backgrounds. KEEP IN MIND
- 25. 4 DIMENSIONS OF EXPERIENCE ACOACH IS THE SUM TOTAL OF THEIR LIVED EXPERIENCE Professional Personal Cultural Educational
- 26. CORE SKILLS SKILLED COACHESHAVE A VARIETY OF TOOLS (1/2) • Sharing qualities that we see, hear and sense • Asking open-ended questions to create insight • Brainstorming and expanding new possibilities • Encouraging resourcefulness and action • Trusting and expressing gut reactions • Clarifying by articulating needs and values • Creating structures to verify the plan is on track Source: Coaching for Transformation (2011)
- 27. CORE SKILLS SKILLED COACHESHAVE A VARIETY OF TOOLS (2/2) • Supporting leaders to live in line with values • Helping leaders move towards vision and goals • Describing what is happening in the moment • Mirroring words, energy and feelings • Sharing new perspectives to open up possibilities • Requesting for a speci c action to be taken • Noticing our own internal experience or agenda Source: Coaching for Transformation (2011)
- 28. CERTIFICATION THE INTERNATIONAL COACHINGFEDERATION CERTIFIES COACHES GLOBALLY The main accrediting and credentialing body for the coaching profession. It campaigns for professional standards and provides independent certi cation for professional coaches and coach training programs. To become certi ed, a coach must complete an ICF accredited program and log at least a hundred hours of coaching. There are three levels of certi cation: Associate, Professional and Master. Nearly 30,000 coaches hold an ICF credential.
- 29. Certi cation isnot required to practice. There are e ective and seasoned coaches without one. Experience is equally important. KEEP IN MIND
- 30. SKILLS AND CERTIFICATIONS ON TOPOF ICF CERTIFICATION, THESE ARE SOME COMMON AREAS OF EXPERTISE Ennegram Assessment Mental Health First Aid Non-Violent Communication Leadership Circle Profile Neurolinguistic Programming Internal Family Systems Grief & Loss Conflict Resolution Group Coaching Organizational Development
- 31. 360 Reviews Personality Assessments Retreats & Bootcamps Forums & Circles Team Offsites Co-Founder Coaching Workshops& Trainings ADDITIONAL SERVICES IN ADDITION TO 1:1 COACHING, COACHES OFTEN PROVIDE A RANGE OF SERVICES Org Coaching & Development
- 32. 4. Process &Fit
- 33. Finding a coachrequires patience and a process. Give yourself 4-8 weeks. Your goal: to determine and achieve mutual t. KEEP IN MIND
- 34. STEP 1: ASSESS NEED SIGNSYOU ARE READY FOR A COACH • You want to level up as a leader • You want to move faster and remove barriers • You desire accountability • You want to make tough decisions quicker • Your team is scaling rapidly and you want help • You value a neural sounding board • You are feeling overwhelmed and burnt out • You have conflicts you would like resolved
- 35. STEP 1: ASSESS NEED SOMEQUESTIONS TO REFLECT AND JOURNAL ON • What is my current situation? • What are my challenges and roadblocks? • What have I tried? What works? What doesn't? • Who do I want to become as a leader? • What kind of company do I aspire to build? • What drives me? • What activities energize and deplete me? • What are your desired outcomes with coaching?
- 36. Answering those questions shouldhelp you decide whether to move forward and meet with some coaches. Only you will know. KEEP IN MIND tlkj;
- 37. SIGNS YOU MIGHTNOT BE READY FOR A COACH • You blame external factors for your problems • You don't prioritize the time • You want to focus too much on tips and tactics • You delay getting started with a coach • You want to be given answers • You don't have specific desired outcomes STEP 1: ASSESS NEED
- 38. STEP 2: DISCOVERY HOW TOFIND POTENTIAL COACHES • Start with people you trust and respect: • Founders • Investors • Operators • Advisors / Mentors • HR Professionals • Contact coaching organizations (slide 62) • Search CoachFederation.org
- 39. You should meetwith three to ve coaches to see di erent styles, philosophies and approaches. Treat each like an interview. KEEP IN MIND
- 40. Coaches often specialize. Somefocus on CEOs, executive teams and/or co-founders. And some focus on company stage. Be sure to ask! KEEP IN MIND
- 41. STEP 3: INFO SESSION THEINFO SESSION SERVES AS THE FIRST INTERVIEW • Introduce yourself and company • Share your goals and aspirations • Learn about the coach • Path to coaching • Experience • Philosophy and approach • Decide if there is a potential t • Determine next steps (sample coaching session)
- 42. STEP 3: INFO SESSION SOMEQUESTIONS TO ASK THROUGHOUT PROCESS • What was your path to becoming a coach? • How and why did you become a coach? • What experience and certi cations do you have? • What is your approach and philosophy? • Who is your ideal client? • How are your coaching engagements structured? • What does a typical session look like? • How do you de ne and measure success? • How do you invest in your own personal growth?
- 43. If you enjoyedthe initial info session, scheduling a sample session is a good investment in time so you can determine if there's a potential t. KEEP IN MIND
- 44. STEP 4: SYNTHESIZE QUESTIONS TOCONSIDER AFTER INITIAL SESSIONS Source: Ed Batista, How to Find and Choose a Coach (2013) • Do I feel safe and a sense of trust with this person? • Have they demonstrated a willingness to be real? • Do they focus on the practical or the existential? • Are they warm, supportive, critical and/or direct? • Are they focused on the big picture and vision, or more detail orientated and pragmatic? • Can this person see the world from my perspective, or at least empathize with it?
- 45. STEP 4: SYNTHESIZE QUESTIONS TOCONSIDER AFTER INITIAL SESSIONS Source: Ed Batista, How to Find and Choose a Coach (2013) • Are they "in my corner" AND willing to challenge me? • Can they be compassionate AND hold me accountable? • Why are they a coach? Is their answer compelling? • Do they have the right level of experience and knowledge to help me? • Can they say why they're not a good t for every client? • Is this person working on their OWN development? • Can they talk about their growth as a coach?
- 46. Finding a coachis a highly personal decision. It's a big investment in time, energy and money. Fit is everything. KEEP IN MIND
- 47. STEP 5 DECISION /FIT HERE ARE SOME VARIABLES TO ASSESS FIT • Context: Do they understand my role and industry? • Experience: Do they have relevant experience? • Philosophy: Does their philosophy resonate? • Specialty: Do they specialize in my area of need? • Connection: Do I feel energetically connected? • Proximity: Do I prefer IRL or virtual coaching? • Safety: Is this someone I trust? • Cost: Does the price t within my budget? • Gender: Do I prefer to work with a man or woman?
- 48. I generally recommend selectingthree to four ' t variables' that you want to optimize for. Ask yourself, 'what do I value most in a coach? KEEP IN MIND
- 49. When evaluating a coach,think about whether you want to index on personal, life, cultural and/or educational experience. KEEP IN MIND
- 50. According to HBR,the ingredients of a successful relationship include high motivation to change and good chemistry with a coach. KEEP IN MIND Source: The Realities of Executive Coaching, Harvard Business Review (2009)
- 51. BE AWARE OFTHE FOLLOWING RED FLAGS • Given a deadline to make a decision • Not o ered a sample coaching session • Sold a multi-month engagement without an opt out • Require large upfront payment to get started • Feel hesitant or uncomfortable to move forward • Believe the coach lacks training or experience • Observe the coach talk more than he/she listens • Deliver more advice than thoughtful questions STEP 5 DECISION / FIT
- 52. Decades of experienceor incredible credentials don't mean much if the relationship doesn't "feel" right. KEEP IN MIND
- 53. 1. Contracting 2. Datagathering 3. Goal setting and development of coaching plan 4. Implementation of coaching plan 5. Measuring and reporting results 6. Adjust goals and coaching plan as necessary 7. Transitioning to long-term development HERE'S THE PROCESS ONCE YOU SELECT A COACH Source: the Executive Coaching Handbook, Sixth Edition (2015) STEP 6 THE ENGAGEMENT
- 54. A good coachwill customize their process to your needs and coaching goals. KEEP IN MIND
- 55. 5. Coaches &Organizations
- 56. I talked withdozens of your peers. These coaches come highly recommended. REFERRED COACHES
- 57. Independent Sunil Arora Austinfish Julia Austin REFERRED COACHES Stanford EdBatista Basker & Co. Jonathan Basker Founder Coach Amy Buechler Conscious Leadership Diana Chapman Reboot Jerry Colonna Scale.us Virginia Bauman
- 58. Conscious Leadership Jim Dethmer Reboot ChadDickerson REFERRED COACHES Reboot Khalid Halim Rad Reads Khe Hy Osprey Leadership Leigh Kearney Evolution Geoff Graber OnCourse Jim Kochalka Priority Coaching Sharon Daugherty
- 59. Reboot Albert Lee REFERRED COACHES Independent Ann Mehl Reboot JimMarsden Evolution Miriam Meima The Mochary Group Matt Mochary Porthouse Coaching Tim Porthouse Rosen & Associates Jim Rosen Independent Tarikh Korula
- 60. REFERRED COACHES Sulkowicz Group Kerry Sulkowicz Coach.me TonyStubblebine Practical Philosopher Andrew Taggart Independent Katia Verresen Independent Leo Widrich Founder Forward Robyn Ward The Forcing Function Chris Sparks Trium Jonathan Rosenfeld
- 61. The speci ccoach you choose to partner with is far more important than the organization he/she works for. Independents are equally capable. KEEP IN MIND
- 62. These coaching organizations and networkshave been recommended by your peers. COACHING ORGANIZATIONS
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- 64. Conscious Leadership Group COACHINGORGANIZATIONS
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- 67. Leaders In Tech COACHINGORGANIZATIONS
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- 74. These are notthe only organizations and networks dedicated to serving leaders. Ask your peers who they also recommend. KEEP IN MIND
- 75. Coaching orgs make senseif you want access to multiple coaches and a range of services. They provide single point of contact, streamlined pricing and choice. KEEP IN MIND
- 76. 6. Pricing &ROI
- 77. There is virtuallyno standardization when it comes to pricing. The range varies greatly. KEEP IN MIND
- 78. RETAINER • $1,000 -$6,000+ per month • Often sold month to month PER SESSION • $300 - $3,000+ per session • Often sold in packages PRICING & PACKAGING* *Based on conversations with dozens of coaches and founders MEMBERSHIP (FOR GROUPS) • $300 - $600+ per month • Billed monthly or annually
- 79. Some coaches will lowertheir rate in exchange for equity or o er performance based pricing. KEEP IN MIND
- 80. One day Picassowas sitting at a cafe. He drew a sketch on a napkin. A lady recognized him and asked how much she could pay for the napkin. Picasso said $20,000. The lady was shocked, “But it only took you two minutes to draw.” Picasso replied, “No, it took me my whole life.” SUBJECTIVITY OF PRICING
- 81. Created Future (w Coaching) DefaultFuture (w/o Coaching) What You Pay For HOW TO THINK ABOUT ROI FOCUS ON DESIRED OUTCOMES RATHER THAN COST PER SESSION Source: The Prosperous Coach (2013)
- 82. 3.5x RETURN ON INVESTMENTAS MEASURED BY PERFORMANCE, RETENTION AND WELL-BEING Research suggests a solid ROI on coaching though outcome data is still limited. REPORT IMPROVED WORK PERFORMANCE, REATIONSHIPS AND MORE EFFECTIVE COMMUNICATION 70% REPORT INCREASED SELF CONFIDENCE 80% Source: BetterUp (2019); International Coaching Federation (2009)
- 83. THE CASE FOR COACHING HOWMUCH DO YOU VALUE • Increased energy, focus and productivity • Sharper decision making and execution • Enhanced self awareness • Fresh perspectives • More self con dence • More e ective communication and listening • Stronger relationships and resolved con icts • Greater accountability
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- 85. • Measurable progresson goals and objectives • Real outcomes in business via key measures • Increased awareness and energy post session • Improved interpersonal dynamics and relationships • E ective internal and external con ict resolution • Better and faster decision making (e.g. hire/ re) • More e ective management of energy and health • Higher employee satisfaction and retention HERE ARE SOME SIGNS AS THE PARTNERSHIP DEVELOPS HOW TO KNOW IF ITS WORKING?
- 86. For many theimpact of coaching can be felt in the rst few sessions but outcomes can generally take three to six months. KEEP IN MIND
- 87. RECOMMENDED READING IF YOU WOULDLIKE TO GO DEEPER I RECOMMEND THESE BOOKS
- 88. ☐ Complete thequestions on slide 35 ☐ Determine if coaching might be a t for you ☐ Ask your network for references ☐ Schedule initial info sessions with 3-5 coaches ☐ Enjoy the process! CHECKLIST HERE ARE SOME NEXT STEPS YOU CAN TAKE
- 89. Coaching isn't a panacea.However, it's incredibly powerful for those who nd the right coach and are deeply committed to growth. KEEP IN MIND
- 90. The world islled with thousands of amazing coaches. May you nd the one who helps you reach new heights. GOOD LUCK!
- 91. THANK YOU • SunilAgora • Julia Austin • Ed Batista • Richard Hughes Jones • Tarikh Korula • Chris Muscarella • Jeremy Shure • Tony Stubblebine TO THOSE WHO HELPED WITH AND INSPIRED THIS GUIDE
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