Coaching

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When making your wedding vows, the idea of having an affair or mistress is not at the forefront of your thoughts. I will also suggest that many entrepreneurs have never considered being unfaithful to their spouse. However, the “love affair” or romance that an entrepreneur can have with their business can result in misplaced priorities.

Consider Charles Dickens’ literary anti-hero Ebenezer Scrooge. In a very sad and painful scene, Belle declares that she has been replaced by another idol.

For again Scrooge saw himself. He was older now; a man in the prime of life. His face had not the harsh and rigid lines of later years; but it had begun to wear the signs of care and avarice. There was an eager, greedy, restless motion in the eye, which showed the passion that had taken root, and where the shadow of the growing tree would fall.
He was not alone, but sat by the side of a fair young girl in a mourning-dress: in whose eyes there were tears, which sparkled in the light that shone out of the Ghost of Christmas Past.
“It matters little,” she said, softly. “To you, very little. Another idol has displaced me; and if it can cheer and comfort you in time to come, as I would have tried to do, I have no just cause to grieve.”
“What Idol has displaced you?” he rejoined.
“A golden one.”
“This is the even-handed dealing of the world!” he said. “There is nothing on which it is so hard as poverty; and there is nothing it professes to condemn with such severity as the pursuit of wealth!”
“You fear the world too much,” she answered, gently. “All your other hopes have merged into the hope of being beyond the chance of its sordid reproach. I have seen your nobler aspirations fall off one by one, until the master-passion, Gain, engrosses you. Have I not?”
“What then?” he retorted. “Even if I have grown so much wiser, what then? I am not changed towards you.”
She shook her head.
“Am I?”
“Our contract is an old one. It was made when we were both poor and content to be so, until, in good season, we could improve our worldly fortune by our patient industry. You are changed. When it was made, you were another man.”
“I was a boy,” he said impatiently.
“Your own feeling tells you that you were not what you are,” she returned. “I am. That which promised happiness when we were one in heart, is fraught with misery now that we are two. How often and how keenly I have thought of this, I will not say. It is enough that I have thought of it, and can release you.”
“Have I ever sought release?”
“In words. No. Never.”
“In what, then?”
“In a changed nature; in an altered spirit; in another atmosphere of life; another Hope as its great end. In everything that made my love of any worth or value in your sight. If this had never been between us,” said the girl, looking mildly, but with steadiness, upon him; “tell me, would you seek me out and try to win me now? Ah, no!”
He seemed to yield to the justice of this supposition, in spite of himself. But he said with a struggle, “You think not.”
“I would gladly think otherwise if I could,” she answered, “Heaven knows! When I have learned a Truth like this, I know how strong and irresistible it must be. But if you were free to-day, to-morrow, yesterday, can even I believe that you would choose a dowerless girl—you who, in your very confidence with her, weigh everything by Gain: or, choosing her, if for a moment you were false enough to your one guiding principle to do so, do I not know that your repentance and regret would surely follow? I do; and I release you. With a full heart, for the love of him you once were.”
He was about to speak; but with her head turned from him, she resumed.
“You may—the memory of what is past half makes me hope you will—have pain in this. A very, very brief time, and you will dismiss the recollection of it, gladly, as an unprofitable dream, from which it happened well that you awoke. May you be happy in the life you have chosen!”
She left him, and they parted. (1)

Entrepreneurs may forget the main reasons that they pursued being in business for themselves. Stephen Covey’s 2nd habit of highly successful people is, “Begin with the end in mind.” The earthly end of all of us leads to only one place. I have not seen a tombstone that showed the last 5 years of financial statements or cash available in the bank. Nor have eulogies focused on the rapid growth of the business or market share obtained. Tombstones discuss family. Eulogies will include business; however, they too are focused on family. Therefore, “beginning with the end in mind” focuses the entrepreneur on the importance of family and what trade-offs are acceptable and which ones are not.

As in Dickens’ text above, the entrepreneur must be on guard when he/she declares that they are running the business and making sacrifices for the benefit of the family. This is a dangerous and narrow path. At some point, the entrepreneur becomes so self-absorbed that their end goal changes unwittingly.
What should an entrepreneur do?

1. “Begin with the end in mind.” Write out the reasons for being an entrepreneur.
2. Make sure that family is part of your daily thought processes and priorities.
3. Commit to being at significant family events – this also means commit to NOT MISSING family events. By the way, your family should tell you what is important.
4. Do not bully those you love into justifying the reasons that the business becomes your mistress.

I can only wish that all of us “be happy in the life you have chosen!”

About the Author: Jim Lindell, CPA, CSP, CGMA is a best-selling author and speaker. Jim is a TEC Chairman (The Executive Committee), which is the Granddaddy of CEO coaching organizations and with its’ Vistage Affiliation is the World’s largest peer group for CEOs and Senior Executives. Jim has been Coaching CEOs through TEC since 2001. His website is www.thorstenconsulting.com. Jim’s latest book, “Controller as Business Manager” is available from the AICPA at http://bit.ly/1zGOYmz.

(c)2015 Jim Lindell and Thorsten Consulting Group, Inc.
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(1) Excerpt from Dickens - Dickens, Charles. A Christmas Carol, n.d. http://www.gutenberg.org/files/46/46-h/46-h.htm

During the 1950s and 1960s, being left handed was seen as a disadvantage. Great efforts were taken by teachers and parents to train students to use their right hand as opposed to their left hand for writing. As a consequence, many kids were forced to focus on hand writing techniques as opposed to learning techniques.

Unfortunately, many managers and coaches still try to force “left handed people to work as if they were right handed.” This metaphor illustrates how people are trained with specific techniques that may not be effective for that individual. Well-meaning coaches and managers may be too narrow in their approach to training or philosophy about business. Unfortunately, their technique or approach may be in conflict with the skills, intelligence or personality type of the individual being trained, managed or coached.

There is a significant danger when the coaching or training approach is “one size fits all.” Let’s consider this example as it applies to the role of a coach and their respective student, customer or employee.

Since coaching focuses on the coachee, let us begin with the left side of the diagram representing the individual that is to receive the coaching service, counsel or advice. There are three main levels of coaching services that an individual can receive:

1. Short term – Short term coaching is usually directed in one of the following areas:

a. The individual has a weakness that needs to be improved.

b. The individual has a serious issue, possibly resulting from disciplinary action, and behavioral change must take place.

2. Intermediate – Intermediate coaching is usually provided when there is a lack of knowledge. This knowledge is necessary for the person to advance to a different level in the organization.

3. Long-term – Long-term coaching is usually directed at individuals that are perpetual learners and are always seeking ways to grow themselves, the organization, and those around them.

In essence, these three levels represent the “needs” of an individual that is to be coached.

The right side of the graph represents the coach’s role. Note that there are two extremely significant principles that apply to a coach. The first is that a coach cannot allow their self-interest to get in the way of helping another individual. The second principle is that the coach should foster independence in the individual as opposed to dependence. Unless an individual is seeking a long-term learning relationship, most coaching assignments should have a specific task with a specific timeframe. The only type of ongoing coaching relationship should be a life-long learning relationship. Beware of the coach that is hired for a short term need who insists on a long-term relationship. The coach may be putting their self-interest ahead of the needs of the individual.

There are many skills a coach should possess including:

Facilitation skills

Counseling skills

Solid experience

Understanding of interpersonal skills and personality profiles

Ability to recognize learning skills of the person that they’re working with

Ability to recognize intelligence types

Desire and evidence of their continued learning.

Now we can reconsider the comparison of left handed and right handed people. A coach that only uses one approach without recognizing the limitations of that approach is not serving his customers well. Failing to understand the needs and styles of the individual being coached typically leads to short and unfulfilled coaching relationships. One of the main reasons coaching assignments do not work out well is that the coachee and the coach are not compatible. A successful coach will be flexible and capable of working in a variety of styles. The greatest of coaches will exhibit the most flexibility in working with a variety of people.

Therefore, it is important for coaches to evaluate personality types and intelligence types to determine how their skills must be altered to bring out the best in the individual.

About the Author: Jim Lindell, CPA, CSP, CGMA is a best-selling author and speaker. Jim is a TEC Chairman (The Executive Committee), which is the Granddaddy of CEO coaching organizations and with its’ Vistage Affiliation is the World’s largest peer group for CEOs and Senior Executives. Jim has been Coaching CEOs through TEC since 2001. His website is www.thorstenconsulting.com. Jim’s latest book, “Controller as Business Manager” is available from the AICPA at http://bit.ly/1zGOYmz.

Occasionally, employees will complain about the use of sports examples to reinforce aspects of company teamwork. The irony is that successful team characteristics almost always apply to a successful sports team first and to the work environment second. In the past, employers desired to transform uncooperative employees and departments into interdependent units, i.e. teams. If the employees could only work together in the same manner as the athletes did, productivity and cooperation would soar!

The history of the term “team” has its roots in Germany and England. Originally it applied to a “team of draft horses” or to “lineage or race.” The latter no longer is used, but the former meaning evolved into its main usage today for sports teams. It is worth noting that some of the synonyms of team are: army, band, brigade, company, crew, outfit, party, platoon, squad and gang. If an employee does not enjoy being a part of the “team,” maybe they would prefer being part of a “party” or “gang.”

Typically, participation in sporting events is voluntary. However, in the work world, many of the team synonyms suggest participation is involuntary.

Some employees may never appreciate sports examples. Instead of dismissing sports analogies, an employee should interpret and utilize the lesson from their perspective.

Jim Lindell is the author of “Controller as Business Manager” by the AICPA http://bit.ly/1zGOYmz . He is an Award Winning Speaker and Best Selling Author. In addition, Jim is a TEC Chairman for two groups in SE Wisconsin (TEC/Vistage is the world’s largest peer group of CEOs and Executives)
©2015 Jim Lindell

When you feel that you have been treated unfairly:
- Think of Victor Frankl.
When you feel that no one cares:
- Think of Mother Teresa.
When you just want to give up because it is too difficult:
- Think of Winston Churchill.
Most of us have nothing to complain about. I am always amazed and blessed by those that overcome significant obstacles. They provide the inspiration to pick ourselves up and move forward.

For what it is worth...
Jimmy


©2015 Jim Lindell - Thorsten Consulting Group, Inc.

How do Controllers and CFOs increase their value to their organizations? It requires them to move from traditional practices and expand to business strategy, industry strategy in addition to obtaining and understanding trends that impact the business or organization. Sometimes it is not always apparent what impact a specific trend will have. The traditional practices must still be followed and implemented. However, these practices are what is expected of Controllers and CFOs today. It is similar to how quality is expected in manufacturing or service. It is also easier to replace a Controller or CFO that operates only in the traditional role. The Controller or CFO that masters each of the expanded roles in the image will not only be more valuable but will also be more difficult to replace.

HR managers and IT managers that have struggled with being excluded from strategic processes in the organization can also take heart in a similar approach. They must become business people first and then be recognized for their expertise. Rarely are they recognized for their expertise. It is in their application of their expertise as a resource or servant leader to the other parts of the organization that their true value can be recognized.

Following is a short video on my presentation on Increasing Controller / CFO value. It was delivered in Las Vegas in Nov. 2014 and the topic was Innovation and Creativity in an Organization. This clip is based on an excerpt from my new book published by the AICPA - "Controller as Business Manager." Click on the following link to read more about the book Controller as Business Manager

Increasing Controller / CFO Value

Youtube Video - Jim Lindell - Increasing Controller - CFO Value

Copyright 2014 - Jim Lindell, CPA, CGMA, MBA - Thorsten Consulting Group, Inc.

George Satula hosted Saturday, November 8, 2014 radio show which featured a conversation with Jim Lindell, CEO of Thorsten Consulting, TEC Chair and award winning speaker! This was a great talk about driving value in an organization. The topic was based on Jim's new book "Controller as Business Manager" published by the AICPA. Listen to the Podcast https://tecmidwest.com/wp-content/uploads/2013/12/tec_11-8-14.mp3

Servant leadership is not about “I”- nor is it about “we”- it is about “them.”

©2014 Thorsten Consulting Group, Inc.

Today, I posted to my social media accounts the following statement:
"The desire for wealth is understandable, the pursuit of wealth is underestimated, the harm in achieving wealth is misunderstood. - JL 4/14"


The desire for wealth is understandable -
Wealth can be attractive. It can be a tool to improve one's: life, family, or community. To pursue it to achieve a noble goal is the starting point for many.


The pursuit of wealth is underestimated -
The time commitment to achieve great wealth is sorely underestimated. This commitment may have many unforeseen costs that in retrospect are much greater than the wealth to be achieved.

The harm in achieving wealth is misunderstood -
Wealth that results in narcissistic behavior, reduced self discipline, reduced commitment to improving one's: life, family or community, is not wealth - it is a curse that is cloaked in a very seductive way.

©2014 Jim Lindell
Thorsten Consulting Group, Inc.

Why is Monday the Worst Day of the Week? It has to do with the following:

Job or school satisfaction

Control over your day

Work vs. fun or relaxation

Unfinished work or homework

Pleasant expectations

Consider the following image. It is as simple as 1+2=3. Monday is the Worst Day of the Week with a "5!"
Remember that "the answer to life the universe and everything is 42" - according to Douglas Adams and "The Hitchhiker's Guide to the Galaxy." Saturday is at the top of the list with a score of "31." Only 11 points short of "the answer to life the universe and everything."

©2014 - Jim Lindell - www.thorstenconsulting.com

Is there a difference between practice and training? Absolutely! Consider the definitions of each term.

Practice is the act of rehearsing a behavior over and over, or engaging in an activity again and again, for the purpose of improving or mastering it, as in the phrase "practice makes perfect". Sports teams practice to prepare for actual games. Playing a musical instrument well takes a lot of practice. It is a method of learning and of acquiring experience.

Training is the acquisition of knowledge, skills, and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance.

Businesses invest time to learn new processes / skills through training. Sports teams do the same. The big difference is in practicing. Sports teams invest time to practice or rehearse so that they can execute during a game. Unfortunately, businesses rarely practice but utilize OJT and correct mistakes as they go. A business that wants to be more successful will invest the time for employees to practice!

© 2013 Jim Lindell - Thorsten Consulting Group, Inc.

Note: the sources of definitions for practice and training were: http://en.wikipedia.org/wiki/Practice and http://en.wikipedia.org/wiki/Training respectively.

Organizations will use SWOT analysis in Strategic Planning efforts. SWOT represents:

Strengths

Weaknesses

Opportunities

Threats

The typical SWOT process requires input from senior managers. The distillation of the input should result in key points that the management team will: ignore, leverage, invest, divest, mitigate, defend or improve.

One way to leverage the SWOT process is to have knowledgeable objective outsiders provide input for the SWOT analysis. The outsiders are typically not: held back by current paradigms, influenced by internal politics, advocates of a particular agenda. Companies have brought insiders in for focus groups and other type of information gathering processes. Expand the use of outsiders to enrich the strategic planning process.

©2013 Thorsten Consulting Group, Inc. - Jim Lindell

#strategicplanning #outsiders #strengths #weaknesses #opportunities #threats

It is amazing how many people will rush to post a comment but fail to consider their grammar. As a result, the individual will: look foolish, dilute their comment and invite ridicule from other readers. Consider the image in this post. The article suggested that it may be possible to predict heart disease from a medical review of the patient's fingers. The first commentator posts a comment that adds no value. The second commentator points out the lack of value in the comment and the incorrect grammar. The third poster incorrectly contradicts the second poster and shows his own ignorance regarding you're vs. youR. The second commentator then finishes off the third commentator with a factual comment and a derogatory comment. Both the 1st and 3rd commentators now have information on the web (forever) that portrays each of them in a negative fashion.

Before you post:
1) Is it an accurate statement?
2) Is it free of grammatical and spelling errors?
3) Are you willing to be associated with the post 5 years from now?
4) If you are trying to be humorous, cynical, or skeptical is it obvious to the reader?

© 2013 Jim Lindell - Thorsten Consulting Group, Inc.

The following video illustrates the mindmapping process applied to disaster planning. Mindmapping will increase your creativity and can be used in all aspects of business from planning to daily operations. In addition, it can be used just as well in your daily life for personal planning, projects and career management.