The IEC Debrief with Tom Floyd – Coaching for Entrepreneurs

Coaching for Entrepreneurs

A new study sponsored by The Entrepreneur’s Source finds 5 universal reasons why businesses fail no matter what their size.
They are:

  • Poor financial management.
  • Mismanagement of human capital. 
  • Pursuit of projects that are incompatible with resources and capabilities.
  • Underperforming sales people.
  • Lack of communications leadership.

On this show, I interviewed guests who have successfully guided entrepreneurs in the past, focusing on how coaches can help entrepreneurs overcome their blind spots, see the big picture and improve their overall performance.

Highlights of the show included:

  • How coaches can work with entrepreneurs to avoid financial mismanagement.
  • The importance of outsourcing in helping entrepreneurs manage their business.
  • How coaches can counsel entrepreneurs who may be pursuing the wrong endeavors or projects.
  • How coaches can help entrepreneurs deal with the symptoms and signs of stress.
  • The importance of social networking in an entrepreneur’s success.
  • The resources and tools that can help entrepreneurs network and grow their businesses.

Featured Guests:

Andrea Garfield, Entrepreneur, Advisor, and Coach, UCLA Anderson School of Management
Patricia Kelly, President and CEO, Limerick
Terry Powell, Founder and CEO, The Entrepreneur Source
Paul Williams, President, E Odyssey, Inc.
 
The IEC Debrief with Tom Floyd

The U.S. Small Business Administration indicated there were 671,800 new business start ups in 2006, yet according to the U.S. Bureau of Labor Statistics, 45% of new businesses ventures fail within 2 years of opening.
 
When asked about the reasons why many small businesses fail, one of the most interesting reasons to me Terry Powell highlighted was underperforming salespeople.
 
As a small business owner myself, that pain point in particular really resonated with me.
 
In the small business world we wear so many different hats, and in some cases when you’re personally responsible for delivering the work you sell, it’s extremely hard to continue focusing on sales when work is piling up in front of you.

Talk to us small business owners!

  • What challenges have you experienced as small business owners?
  • Is continuing to bring in new business a challenge for you?
  • How have you successfully grown high performing sales teams for your businesses?

Cheers from your host,
 
Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

Coaching for Entrepreneurs

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Coaching for Financial Success – Coaching for Entrepreneurs

Coaching for Financial Success

Wow, did the topic of financial management hit home with me.  I found myself nodding as Paul Williams discussed the importance of reviewing financials on a quarterly basis, along with using applications like QuickBooks to stay organized.

In October of 2001, I had just gotten my business license and was talking to my accountant, who told me “Tom, setting yourself up the right way financially from the get go is key.  Buy QuickBooks, it will make your life AND my life easier.”  He was right!

In addition to talking about QuickBooks, I thought Paul hit the nail on the head when he discussed the importance of outsourcing financial management if it’s not your strength.
 
Reconciling books, finding discrepancies, and plain staying on top of everything caused me an enormous amount of anxiety in the beginning.

Small business owners out there, what was your experience?

  • Have you struggled in managing the finances for your business?
  • Have you experienced successes in outsourcing this function to an accounting or financial services firm?
  • What are some additional financial best practices, tips, and tricks you’d recommend to other small business owners out there?

Please feel free to comment, We’d love to hear your thoughts!

Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

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Helping Entrepreneurs Find Balance – Coaching for Entrepreneurs

Helping Entrepreneurs Find Balance

A Fortune Small Business article that cites the annoying habits of entrepreneurs was quoted as saying “Entrepreneurs, almost by definition, are obsessed with achieving their goals.”  In interviewing executive coaches on that matter, an expert said, “Entrepreneurs kill themselves, literally. Their health goes straight to hell.” 
 

As I hung my head in shame, wincing from the vision of dust on my elliptical, I asked our panel about this.  Andrea Garfield piped up from a coaching perspective, focusing on the need for entrepreneurs to create a growth strategy, focus on running the company, and delegate day-to-day activities to staff.
 
She also shared many entrepreneurs have a personal a-ha when someone like a coach helps them realize they are missing their lives and can realize even greater success when they are balanced, rested, and happy.
 
I encourage our coaches in cyberspace to share their stories!

  • Are you seeing an increase in the number of clients who struggle with finding balance in their lives?
  • As coaches, how have you helped clients achieve greater balance?
  • From a coaching perspective, has it been your experience that balanced people are happier – and more successful – than those who aren’t?

We look forward to hearing from you.  Cheers from your host,
 
Tom Floyd
CEO
IEC: Insight Educational Consulting  
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development
Listen to My Weekly Internet Radio Show and Podcast Dedicated to Professional Coaching


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The IEC Debrief with Tom Floyd – Inside the Actor’s Coaching Session

Inside the Actor’s Coaching Session

With Academy Award winning actors acknowledging the key people who made their success possible, the acting coach is perhaps one of the most familiar professional coaches in the business world today.

Aspiring stars always ask how to make it in the business, but how do acting coaches make it?
 
Who are the top acting coaches and how do they work?

What methods do the best acting coaches employ, and what draws big-name talent to them?

How can these lessons translate from on-screen success to business or personal success?

This show featured some of the entertainment industry’s top talent and looked at some of their biggest names and best practices.

Highlights of the show included:

  •   An overview of the acting coach field.
  •   A discussion about the challenges actors experience that coaches can address.
  •   What draws big name talent to the best acting coaches.
  •   The skills a good acting coach must possess.
  •   Why it’s important for executives to not become actors during conferences, presentations, and meetings.
  •   Lessons from the acting world that can be applied to the business world.

Featured Guests:

Daniel Henning, Acting Coach and Artistic Director, The Blank Theatre Company
Lynette McNeill, Acting Coach and Director, Lynette McNeill Studios
Jerry Weissman, Executive Coach and President, Power Presentations Ltd.
Adrian Zmed, Actor and Acting Coach, Stella Adler Conservatory, L.A.

The IEC Debrief with Tom Floyd

We began the show with a quote from a USA Today article titled “Even A-List Actors Need a Coach.”  Larry Moss was quoted in the article as saying “I know some very big stars who don’t do a movie without a coach.  To be coached is not a sign of weakness, but of strength.”

As a coaching advocate myself (and a guy who has two coaches at the moment!) – I agree.  It’s absolutely a sign of strength, to know yourself, your areas of growth, and your weaknesses – it’s empowering.  It amazes me how some people feel the complete opposite though!

Lynette McNeill shared some actors are completely comfortable acknowledging and talking about the coaches who have had an impact on their careers and lives. 

However, others are not.  What do you think?

  • Would you view an A-list actor or celebrity differently if you knew he or she had an acting coach?
  • What would you suggest or recommend to a high profile actor, celebrity, or other well known personality who was concerned about the public being aware of his or her acting coach? 

We look forward to hearing from all of you!
 
Cheers from your host,
 
Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

Coaching and the Entertainment Industry

Coaching to Build Confidence – Inside the Actor’s Coaching Session

Coaching to Build Confidence
 

Confidence.  As human beings we think about confidence often.  We’re naturally attracted to or inspired by those who naturally exude this trait, yet can very quickly lose confidence in the person we should admire the most – ourselves.
 
We discussed the challenges new or young actors in particular experience as they begin their careers, and confidence was an area our guests saw people struggle with time and time again.  Former TJ Hooker star Adrian Zmed highlighted the need to keep perspective.  For actors, he explained it’s important to remember if you didn’t get the role you wanted, it’s not because you did badly – it’s because you just weren’t right for the part.
 
This is an often an area where acting coaches can help – keeping their clients grounded, on track, and focused on moving ahead.
 

  •  How do you keep self doubt from dragging your confidence down?
  •  If you’re an acting coach, what would you say to young actors who may doubt themselves at times?
  •  For our executive and life coaches out there, tell us how you’ve helped clients rebuild their confidence.

Please feel free to comment, We’d love to hear your thoughts!

Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

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Are Executives Actors? – Inside the Actor’s Coaching Session

Are Executives Actors?

The work Jerry Weissman does with executives at companies like Cisco Systems, eBay, Microsoft, and Yahoo was fascinating to me.  We brought Jerry on the show based on his amazing credentials, experience, and mention in the Wall Street Journal as the “Acting Coach to CEO’s.” 

I couldn’t wait to get into a discussion about the techniques that can be applied in both worlds, and Jerry made it clear one of the main overlaps is the very trait that comes up on our show time and time again – authenticity. 

Jerry emphasized executives should not view themselves as “performers”, but should instead focus on the message they’d like to deliver, the audience who will be listening, and being themselves when presenting. 

His point – while actors may go into character for a role, leaders in Corporate America should not. 

What are your thoughts?

  • Have you ever been at a conference or presentation where an executive seemed like he/she was trying to be somebody they’re not?
  • Are there ever occasions or times when you feel executives should act?
  • For our coaches out there, feel free to share your stories.  How have you coached leaders to remain authentic and true to themselves?

We look forward to hearing from you.  Cheers from your host,
 
Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development


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Coaching Leadership and Workforces During a Strike – The IEC Debrief with Tom Floyd

Coaching Leadership and Workforces During a Strike

Estimated at costing the local economy more than $3 billion since it began last November, Hollywood’s 100-day strike came to a widely welcomed end on February 12th. 

After securing several advances for writers, including establishing residuals for writing in new media and on the Internet, the Writers Guild of America members, from both West and East unions, voted overwhelmingly to go back to work. The two unions represent more than 12,000 writers working in film, television, radio and new media.

Largely considered the entertainment industry’s most contentious labor dispute in recent history, the WGA strikes offer valuable lessons for other guilds, unions, and industries.

This show explores those key lessons and also asks the questions, “What are the rules that come into play when a strike affects business as usual” and “How can professional coaches help leadership and workforces during a strike?”

Highlights of the show included:

  •   An overview of the Writer’s Guild strike from one of its primary leaders, Patric Verrone.
  •   Why eventually involving studio presidents and other Hollywood executives in the strike was critical.
  •   What made the Writer’s Guild strike different – and why Hollywood is still in gridlock mode.
  •   Why Hollywood is behind in the areas of leadership and employee development.
  •   How coaches are helping to address some of Hollywood’s dysfunctional areas, including leadership and   communication.
  •   How coaches can help clients overcome fear and stay true to themselves during a strike.

Featured Guests:

David Brownstein, Founder, Hollywood Coaching
Jonathan Handel, Entertainment Attorney, TroyGould
Sherri Ziff Lester, Certified Life Coach, RockYourLifeCoaching
Patric Verrone, President, Writer’s Guild of America West

The IEC Debrief with Tom Floyd

This show provided a fantastic overview of this year’s Writer’s Guild strike.  I think Patrick summed up the reason behind the strike well when he said “if you make money – we make money.” 

According to Patric it was hard to get anywhere at the beginning of initial negotiations and get the studios to listen – it literally took the strike on November 5th to get their attention. 

Interestingly enough a December 2007 USA Today/Gallup Poll showed six weeks into the strike, 60% of Americans favored writers in the dispute.
 

  •   Did you support the writers in their strike?
  •   Would you support actors in the Screen Actors Guild if they move to strike for similar reasons?
  •   What do you see as the primary lessons learned from the Writer’s Guide strike?

We look forward to hearing from all of you!
 
Cheers from your host,
 
Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

Coaching Leadership and Workforces During a Strike

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Making the Case for Leadership Development – Coaching Leadership and Workforces During a Strike

Making the Case for Leadership Development

I asked guest David Brownstein why Hollywood needs coaching. In addition to highlighting how Hollywood leadership can be conflict adverse, hiding behind representatives and outside agencies, he also highlighted that many studios and companies didn’t necessarily embrace leadership and career development.

Giving lip service to leadership development is something I see across many industries – I don’t think it’s just specific to Hollywood. In large and small organizations alike, employees are tasked with building the case for having a talent management strategy that includes things like leadership development, career growth, coaching, training, and succession planning.

  • What’s important to emphasize when making the case for leadership or career development?
  • For companies who might not understand how coaches are able to grow, guide, and bring out the best in their employees, what benefits or points would you emphasize?

Please feel free to comment, We’d love to hear your thoughts!

Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

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Addressing Fear in Coaching Engagements – Coaching Leadership and Workforces During a Strike

Addressing Fear in Coaching Engagements

 
Another topic that came up during the show was fear. For the people involved in a strike, fears can range from job loss and lack of income to wavering confidence and self doubt.

From my perspective, it seemed like the key to a strike is staying true to two things: the reason behind the strike, and yourself.

 

That said, it can be hard to stay true to yourself when it’s impacting your ability to live your life and put food on the table. Not knowing how long a strike is going to last or if it’s going to be successful – scary!

For our coaches out there: 

  • Is it okay to feel scared or be scared?
  • What’s the best way to cope with fear during a life altering event like a strike?
  • How have you prevented clients from giving into their fears?

Please leave a comment and share how you’ve helped clients grapple with fear in your engagements.

We look forward to hearing from you.  Cheers from your host,
 
Tom Floyd
CEO
IEC: Insight Educational Consulting 
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development


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