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These haven’t changed much over the years, but still seem to be often overlooked by business professionals and leaders in their haste to keep up with peers, competitors, and customers in today’s volatile environment. The reality is that starting a business, as well is working an existing business, has always required perseverance.
I’m sure you can imagine how much that impacts any business or startup’s ability to react to changing customer needs and growth opportunities, no matter how insightful their leaders. Listen to everyone's input, encourage people to speak up, and repeat back what you have heard. Facilitate coaching and mentoring, inside and outside.
Therefore, I was pleased to see some good insights and recommendations in a new book, “ Intrinsic Motivation ,” by Stefan Falk, a McKinsey & Company performance coach. The key to harnessing self-doubt starts with your confidence in your ability to set yourself up for success. Never focus on things you can’t control.
How well you handle uncertainties by climbing over your hurdles and standing back up after a fall is what will determine your ability to win in the long run. Use your support resources and access to coaching to solidify your mindset and personal values, and don’t back down prematurely. Pick battles that have value in that context.
I’ve found that you can best start by asking for another perspective, whether of yourself or a team member. You must give them a strong sense of self-efficacy by championing autonomy, encouraging them to think big, and coaching them on areas to improve. Diversity and inclusion will get you started.
Start with ‘How are you?’ Trust is hard because it requires giving up control and being honest with ourselves, and with every team member. Leave it up to team members and leaders to decide what schedule works best for them. Provide coaching and facilitate mentorship from others in the company for growth.
Many of you business professionals I meet in my business consulting and mentoring roles seem very determined to advance their career, or even start their own business. Most people find that the act of committing something to paper forces them to face the reality of getting started and measuring progress.
In this context, I was impressed with the insights provided in a new book, “ Stay Sane In An Insane World ,” by peak performance coach Greg Harden. In my experience as a startup investor, I have become convinced that the biggest reason for business failure is giving up too early. Always dig a level deeper.
For example, the Ritz-Carlton Hotel Company has implemented a practice of authorizing employees, after relevant training, to spend up to $2,000 per guest, without pre-approval, to solve a special requirement for any guest that will make their visit totally memorable. Marty Zwilling First published on Inc.com on 1/3/2023.
She is a long-time executive coach who has helped thousands of clients overcome fears about communication. Use job search tools to seek openings, line up references, and use trustworthy people to find other employment. Marty Zwilling First published on Inc.com on 2/15/2023 Stay quiet when you’re too angry to see clearly.
I have found that the ability to make effective decisions is a key starting point, and a tough one to learn. I always struggle with coaching along these lines, so I was pleased to see some excellent guidance on tactics in making decisions in a new book, “ The Leap To Leader ,” by Adam Bryant.
As a result, these people often end up disheartened. In my experience, new startup businesses are initiated primarily by these standalone innovators, popularly called entrepreneurs. You should team up with intrapreneurs to land their ideas and translate them into the language that the company can understand.
The boundaries in business may start with work scope limitations, but certainly must include emotional and physical constraints as well. If you are in charge of a meeting, make sure all members are aware of and live up to the same participation rules. Marty Zwilling First published on Inc.com on 2/10/2023
Yet, despite major strides being made by women in business, entrepreneurship is still very much a man’s game, with all-female start-ups receiving only 1.9% of venture capital funding in 2023. With 42% of US companies currently owned by females, the business landscape has become a lot more equitable in recent decades.
For example, if you are an entrepreneur seeking investment or a cofounder, there is no substitute for networking at industry and startup conferences in your area. People who show fear or trepidation find it hard to get the respect and trust they need to hold up their side of any relationship. I recommend treating all people as equals.
Of course, you should always be available and willing to coach members when requested, or share your experience and skill. In addition, you are doing yourself a favor by creating a trusting team and setting yourself up for loyalty and success down the line. Marty Zwilling First published on Inc.com on 2/27/2023
Put away permanently your “suck it up” voice. If you want team member work to change for the better, make that voice shut up. You can counter positively by encouraging everyone to go home on time, managing meetings carefully, and coaching positively. Marty Zwilling First published on Inc.com on 1/18/2023
These authors bring a wealth of knowledge from their decades of practicing executive coaching and psychology, as well as business employment law, with real companies both before and during the transition. Coaching – Practice active listening and feedback. Start today to adapt to this change, recognizing that you are already late.
Something happened in the past 7 years in the startup and venture capital world that I hadn’t experienced since the late 90’s — we all began praying to the God of Valuation. How might our next phase of the journey seem brighter, even with more uncertain days for startups and capital markets? What happened? There was no money train.
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