Passing Value: Reflections of Three Retired Entrepreneurs to a Struggling One

SE: I’m not sure what I should do. Nothing has quite worked out as I hoped.

RE1: Most things don’t. But sometimes what happens instead is the good stuff.

RE2: The only real failure is the failure to try.

RE3: And the measure of success is how we cope with disappointment, as always we must.

RE3: We came here and we tried, all of us in our different ways.

RE3: Some achieved more than others, but we did our best; nothing else matters.

RE2: Perhaps it’s true: we don’t stop playing because we grow old; we grow old because we stop playing.

RE2: All we really know about the future is that it will be different.

RE1: So we must celebrate the changes.

RE1: Let them come. Bring them on. Because as someone once said, everything will be alright in the end…

– Adapted from The Best Exotic Marigold Hotel

Purpose of Coaching

In 1974 Tim Gallwey simplified the mysterious world of coaching and distilled it down into a simple equation:

Performance = Potential – Interference

 

I have used this equation to guide my coaching performance for 20 years in business and 30 years in athletics. A good coach simply removes interference for the coachee, but a skilled coach more particularly creates space for the coachee to remove the interference on their own.  In addition to this equation below is a pic from Sir John Whitmore – another giant in the coaching and mentoring scene.

Whitmore Purpose of Coaching

 

If you are a coachee:

It will help you understand why you should embrace the movement from comfort to discomfort: your own performance benefits. Courage is frequently required; having a skilled coach to guide helps immensely.

If you are a coach:

Creating the space, not letting coachees regress into comfort and helping coachees navigate the consequential chaos are critical skills.

Best,

Richard

Art of Persuasion

This week has a very short segment that will challenge conventional sales approaches and even marketing ones. I share Daniel Pink’s video on persuasion for entrepreneurs on three accounts:

  1. The conventional, business-as-usual marketing and sales approaches are largely discredited and are melting away. They are singularly useless for searching organizations and early execution ones. Even in MBA schools and big organizations, their efficacy is fast becoming dubious.
  2. Entrepreneurs cannot be remotely successful ignoring the human factor (the widget itself is worthless) – a reality exacerbated by adhering to antiquated approaches. Buying decisions are emotional, for technology companies this is counterintuitive especially when business analysis seems to creep into the buying decision. It is seldom, if ever, an impersonal, logical decision.
  3. Buyers hate being sold, but love to buy. Think about your own response to being sold something. It is usually unpleasant, often requiring a shower afterwards.
In short, immediately stop doing what doesn’t work, start doing what does and if you don’t know how and when to do it invest immediately in getting that capability too. There’s lots of what out there, but much less how and when.

Have a great week and innovate your persuasion skill set!

Richard