How Women Entrepreneurs Can Think Bigger

female entrepreneur

Go All-In

 

Are you thinking big enough?

Do you have what it takes?

Are you ready to go ALL-IN?

 

Stephanie Breedlove is the Co-Founder of Care.com HomePay and author of All In: How Women Entrepreneurs Can Think Bigger, Build Sustainable Businesses, and Change the World.

I recently caught up with Stephanie to talk about the lessons she has learned from her experiences as an entrepreneur. These lessons and her advice apply to all entrepreneurs, but her new book includes specific advice for women.

 

Called to Entrepreneurship

How do you know if you’re called to be an entrepreneur?

In choosing entrepreneurship, you are required to take on risk, barriers, financial strain, and uncertainty in virtually every area of life – from the possibility of failure, to the unknown of the size of success if you make it, to what your career will look like as you navigate the journey. In a nutshell, it’s often bring-ya-to-your-knees work and is not sexy, contrary to what the media may lead you to believe. Yes, there is potential upside in entrepreneurship, but who would logically sign on for the guaranteed difficulties if not called?

So how do you know if you are called? One of the beauties of entrepreneurship is that there is no standard or template, so I think most of our callings are as unique as a fingerprint. However, I do believe we have a set of common ideals and a way of seeing the world that builds a foundation common to most entrepreneurs. Entrepreneurship is very hot and trendy today, but it is not a path that will be successful or enjoyable if it is not where your best talents live. I had a thriving corporate career prior to taking the leap into entrepreneurship, with the status and ego that accompany the corporate position. The leap into entrepreneurship was very humbling, yet I couldn’t have been more in my element and comfortable in my own skin – I knew it was where I belonged. Here’s my list to help you know if you are being called, or not.

 

How to Know if You Have the Call

You might be called to entrepreneurship if…

  1. You are going to a new endeavor, not running from your current situation.
  2. You have an idea that will create value.
  3. You have an idea that will grow and potentially create wealth.
  4. You believe your authentic way of working, building or delivering is ahead of its time and of greater value than what is currently available on the market.
  5. You feel being a Jack or Jill of All Trades is a valuable skill, and you enjoy tackling new responsibilities with which you have no experience.
  6. You think broadly and can sew all aspects of a business together to create overarching success.
  7. You have smart but blind optimism in the long-term potential of your idea – enough to thrive in the lean years.
  8. You are excited about working harder than you have ever worked, even if it means being without a paycheck (for a while).

You are not being called to entrepreneurship if…

What a Coaching Conversation Should Look Like

This is a guest post by Gregg Thompson. Gregg is the author of THE MASTER COACH:  Leading with Character, Building Connections, and Engaging in Extraordinary Conversations and President of Bluepoint Leadership Development.

(Note: in this article, Talent refers to the person being coached.)

Be A Great Coach

At the risk of sounding too idealistic, there are few things in life that are more rewarding or more meaningful than being instrumental in helping others have better lives. I often refer to coaching as a calling or mission because I believe there is something inside each of us that comes alive when we have an opportunity to be of real service to others. One of the key foundation stones upon which successful coaching is built is conversation – the dialogue you have with the people you are coaching.

But this conversation involves much more than just talking with others about their goals and dreams. As a coach, your job is to create a space in which other people will regularly have conversations that not only uncover new ideas and generate innovative solutions, but that result in entirely new attitudes and behaviors, and that forge commitments to make significant, sustained personal changes.

However, while rich dialogue can uncover new ideas and generate innovative solutions, this kind of interaction alone is not coaching. Where dialogue pursues new ideas, coaching pursues entirely new attitudes and behaviors. Dialogue is the talk; coaching is the walk. How many conversations do you have during an average day? How many of them really matter? The great coach understands why some conversations matter and some conversations do not. Most on-the-job conversations involve the exchange of information, instructions, advice, and opinions and have relatively predictable outcomes. While these conversations are quite suitable for normal business transactions, they are quite ineffectual in the coaching process.

 

“A coach is someone who can give correction without causing resentment.” -John Wooden

 

Elements of a Great Coaching Conversation

5 Habits to Improve Your Team’s Reliability

This is a guest post by Lee J. Colan, Ph.D. Lee Colan and Julie Davis Colan co-authored The 5 Coaching Habits of Excellent Leaders.  They also co-founded The L Group in 1999 to equip and inspire leaders at every level:  personal, team and organizational.

 

Coaching Reliability

Reliability is something every leader wants more of from his or her team. Your challenge is to coach for reliable individual performance as the building block of a reliable and profitable business. Reliability is a customer magnet, whereas unreliability is a customer deterrent.

 

“Reliability is a customer magnet, whereas unreliability is a customer deterrent.” -Lee Colan

 

When a customer needs something done by a set date, or a service performed in a specific manner, he’s seeking someone who can provide that service with certainty. Many companies have built their reputations by providing that certainty for customers. For example, FedEx realized it could corner the market by promising to get your letter to its destination overnight, without fail. The company created an entire niche that never existed before. McDonald’s has built its iconic brand based on a promise of a reliable experience, regardless of which location.

Ultimately, excellent leaders help good employees become even better people. They help their employees build better lives for themselves and others while producing better business results.

 

“Excellent leaders help good employees become even better people.” -Lee Colan

 

5 Habits to Create the Reliability Advantage

There are five habits that excellent coaches use to create the reliability advantage. The five habits give your team the biggest boost if applied in sequence. However, you must use your knowledge of your team to determine when to accelerate through or spend more time on a specific habit. The root meaning of the verb “to coach” means to bring a person from where they are to where they want to be. Consider the role of a football coach. He sets clear expectations for his team with a game plan to win. He asks players if they have any questions to ensure they are clear about their respective roles on the team. He also asks them questions like, “How can you improve your performance or overcome a certain obstacle?” Then during the game, he involves them in changing the game plan, if necessary, based on what they are seeing on the field. The coach also observes and measures each player’s performance (e.g., number of tackles, yards gained, etc.). Finally, the coach gives constructive feedback and recognition so his players can elevate their performance in the next game.

These are the same five habits that excellent leaders employ to coach their teams. First, excellent leaders explain expectations. They realize it is necessary but not sufficient, in and of itself, to boost performance. Excellent leaders take the time to ensure alignment with their teams before moving forward. Second, excellent leaders also ask questions. A leader might ask to clarify a problem or ask for ideas and suggestions. Asking questions ignites employee engagement. Third, excellent coaches involve team members in creating solutions to improve their work. This enlists ownership because we are committed to things we help create. Fourth, excellent leaders diligently measure results to boost team accountability. The fifth and final coaching habit is to appreciate people. This builds commitment to sustain and improve results. Using each of these habits in concert elevates team reliability.

 

“Asking questions ignites employee engagement.” -Lee Colan