Want to Boost Team Performance? Here’s How to Coach Better!

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Episode 135: Are you a finance leader eager to enhance your team's performance? This episode dives deep into the essential coaching techniques that can elevate your leadership game. We explore the vital distinction between coaching and teaching, emphasizing that coaching is not about providing answers but rather about listening and facilitating self-reflection.

Building trust is a crucial element discussed, as it lays the foundation for open communication and collaboration. We share actionable strategies for fostering an environment where team members feel supported and confident in sharing their challenges. Key coaching techniques, such as asking open-ended questions and practicing active listening, can lead to powerful insights and improvements in performance.

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Episode Transcript

Stephen McLain (00:05):
One of the four fundamental finance leader
responsibilities is making thepeople around you better, and we
do that through coaching yourteam members on performance,
goal setting and the potentialfor greater responsibility.
How many times is a teammanager or a senior finance

(00:27):
leader that you have doubts onyour ability to help your team
members become better at theirjobs?
It might be often, and thisissue really depends on the
composition of your team.
Is your team proactive, justcomfortable or barely getting
things done?
It's probably a combination, solet's be actively engaged in
developing our people so theyhave greater opportunities to
excel.
Please enjoy the episode.

(00:49):
Welcome to the Finance LeaderPodcast, where leadership is
bigger than the numbers.
I am your host, Stephen McLain.
This is the podcast fordeveloping leaders in finance
and accounting.
Please consider following me onTwitter, facebook, instagram
and LinkedIn accounting.
Please consider following me onTwitter, facebook, instagram
and LinkedIn.
My usernames and the links arein this episode's show notes.

(01:11):
You can also follow FinanceLeader Academy on LinkedIn.
Thank you, this is episodenumber 135, and I'll be sharing
a few professional coaching tipsyou can use to help your team
members.
Author and speaker John Maxwellsaid Good leadership isn't about
advancing yourself.
It's about advancing your team,a primary responsibility we
have as finance leaders is tohelp others around us to become

(01:35):
better.
A leader seeks to find out whysomething is not happening
according to expectations and tothe high standard we have
established.
Your first and most importantfocus area when it comes to
improving your team or makingpositive change is that you must
be always building trust.
You will never move the needlewith your team and with their

(01:56):
cooperation if they don't trustyou.
Building trust always startswith you setting the right
example for behavior, work ethic, time management, respect,
productivity, doing what you say, proper communication, taking
care of your team and so muchmore.
Now, last week, in episode 134,become a Proactive Leader with

(02:20):
Situational Awareness, I talkedabout the importance of knowing
and understanding what ishappening around you, whether
you are in a meeting, talkingwith your team and looking at
industry variables for comingchanges.
If you missed that episode,please go back and listen Now.
Coaching is not teaching.
It's listening.

(02:40):
It's probing what is stoppingthe individual from achieving
the next level or overcomingfear and getting out of their
comfort zone.
Teaching and training aredifferent from coaching.
Teaching is where you do mostof the talking.
Coaching is where you do mostof the listening.
The key to coaching, toexcellence, is asking high

(03:02):
quality, prompting questions sothe person being coached can
deep dive their own performance,and then you sit back to listen
and ask them to dive evenfurther when there is a stoppage
or when you hear an excuse oran obstacle or a problem.
Now let's briefly review thesteps and tips to better

(03:23):
personal performance coaching.
Number one build trust, justlike I mentioned a few moments
ago, and I want you to go onestep further Check your bias for
each of your team members.
We all have some type of bias.
Know yourself and ensure youkeep your bias in check as you
coach and in every leadershipduty you have.

(03:45):
Number two become an activelistener.
Coaching is listening with verylittle talking.
Don't interrupt when they arein a sequence of self-discovery.
Help them to keep talking.
Number three use a promptquestion.
Try to avoid yes or noquestions.
The best prompt question that Ireally like comes from the book

(04:07):
the Coaching Habit by MichaelStanier, and it is what is on
your mind.
It's a great open-endedquestion that can get people
started.
Number four don't interruptwhile they are talking.
5.
Pay attention to obstacles orexcuses.
Zero in on that.
Use a follow-up question andcontinue to ask, to go further

(04:31):
until you find the real problem.
6.
To find that moment of epiphanymay take several sessions.
Through open questions, youhelp them to determine and own
their solution.
7.
Agree on a plan that fits whatwas found in the session or
follow-up sessions.
Number eight do follow-ups asnecessary.

(04:53):
Ensure you are documentingperformance so you can review
and follow-up sessions.
And number nine be encouraginggoing forward in your normal
leadership duties.
Now I love coaching.
There are a lot ofpossibilities when it comes to
helping your team overcome anobstacle and building a plan of
excellence.
It is fun watching your teammembers achieve the impossible,

(05:17):
be prepared for greaterresponsibility and then get
promoted into a higher role.
Now for action today.
My best suggestion for today isto perfect your listening
skills and the natural desire tointerrupt.
Let your team members talk andthen talk some more.
Let them open up so you knowhow to help them improve,

(05:39):
achieve more and to accomplishtheir goals.
Now.
Today I talked very brieflyabout professional coaching tips
you can use to help your teammembers.
Helping our team members toimprove is just one of our
primary responsibilities asfinance leaders.
I list out the others onfinanceleaderacademycom.

(05:59):
I hope you enjoyed the FinanceLeader Podcast.
You can find this episodewherever you listen to podcasts.
If this episode helped youtoday, please share with a
colleague Until next time.
You can find this episodewherever you listen to podcasts.
If this episode helped youtoday, please share with a
colleague.
Until next time.
You can check out moreresources at
financeleaderacademycom and signup for my weekly updates so you
don't miss an episode of thepodcast.
And now go lead your team andI'll see you next time.

(06:21):
Thank you.