#005 - Kate Wilde on Business Coaching, Leadership and how she helps Business build key skills!
Introduction
Topics going to be covered:
Leadership
Management
Running a company
Motivating and inspiring millennials
Networking and books
Introduction of guest
Engage with business LTD – works with ambitious entrepreneurs who want to grow successful businesses
Developed over 2,000 ideas
Where did your leadership and your understanding of management come from?
A natural leader
Late 80’s – started a security business
Went to college to learn SAGE Accounting – diploma in business and finance
Every day is a learning day
How long do you spend on learning and improving?
Read books, attend events and interacting with other people, learning new things from clients
How many different industries have you worked in?
80’s – 90’s = security business
1999 = business advisor
Racing teams, engineering, retail, hospitality, construction- the change is interesting
You’ve been a business advisor/coach for 17/18 years – from that experience, what makes people choose you or what makes people choose a business coach/advisor?
They realise they don’t have to do everything themselves
A business coach adds value because when someone is growing a business, having someone external to help them develop and reframe their thoughts and be a soundboard and add structure to keep them moving forward toward goals.
Is there a problem that results in people coming to find a business coach?
Somebody might start a business and have a good idea and then when you start to bring other people into it, they have to stop doing the technical part becomes less and less because you’re focusing on leading the business
If you’ve not had any training, you become the least qualified person – recognition of lack of management skills
Work with business with up to 30 employees – under 10 million
For one man band’s that want to grow – where do they start?
Find a bookkeeper – understand their skill level (professional qualification) – ask other businesses who they use
Extra overheads to feed
Growing business are vulnerable as they aren’t making as much profit
Be ambitious – be aware that profit will decrease until you take the next step
What advice would you give to people at that stage?
Instead of employing relatives just because it’s easy, bring in people who have a wide range of talents, then look at people with specific talents as you grow
How do you know when to get a manager is?
Look at the difference between a leadership role and management role is – in the early stages you have to be both
Leader has the vision and then there’s a role underneath that to run the business
The addition of 2 or 3 people can cause a lack of communication – not being kept informed – when your team know what’s going on, they buy into the vision = motivation
Jotting words down to make a vision and a pitch and what does it mean
How important is it to have values and as a leader to bring people in?
Bring then in instead of you chasing them
A clear and authentic value will make people want to buy into the company
Statement must match leader – people buy into you - “Know me, like me, trust me”
Do you believe in the £100,000 per head rule?
No, you have to watch putting too much emphasis on turnover
What’s the change for a leader between now and my next step?
Bringing together a senior management team – another level of role defining – in house accountant – HR – sales – marketing
How do you motivate your team without always using money?
Money is not a great motivator
Staff interviews to find out about the environment – most complained about being underpaid
Management team worked with staff to redesigned workshop, held meetings and took time to spend time in the workshop and talk to the staff
Same interviews a year later and no one mentioned money but nobody had a pay rise during this time
All goes back to communication so everyone feels they understand and know the part they’re playing
Assess energy levels and remember to take breaks
How do you delegate to your team and not advocate?
Some people confusing dumping with delegating – they find something they don’t want to do and then give it to someone else
Give something to someone to do and then suit on their shoulder the entire time they’re doing it – micromanaging
If you’re going to delegate effectively, make sure the person you’re giving the task to, understands what they’re doing, what good end result looks like and when it needs to be done by – make sure they have the skills and resources
Check in on them so they know you’re there if they get stuck – build their confidence
Highlighting the strengths of you and of your team so that when there is something to be done, you give it to the right person with the right set of instructions and timescale
Most people just want thanks – aids motivation
How to you get outsourced people who work with you to buy into the vision?
Take opportunities to involve them e.g. Christmas party
Hot-desking is becoming more popular – lonely working independently
How do you see motivating and leading millennials?
A group of people who have been bought up differently – technology understand is advanced – teamwork is important to them – the idea of them being with a company for a long period of time is unlikely – keen explorers
What you have to offer is part of their journey
They need to understand people – take care in approaching different target markets
Motivating themselves around their own structure
Identify what you want and identify the person you need
We touched on networking right at the very beginning, what are one or two key points that you think leads to successful networking?
A big part of it is choosing the right network – getting the people in the room to buy into you
Think about what you want from networking – most people join because they want more business but there is so much more on offer
Be careful of networks that pose as referral networks and being about relationships, often they’re not because the relationship is there because you paid money to be in that room – transactional
Business through developing relationships – where you get to know, like and trust somebody, is where you’re going to do the best business
Having a really good pitch – so people can listen and understand what you do – so they can go and pass that information on to somebody else – practised until perfect
If you go back to the beginning of this podcast, when I ask Kate what she does, her pitch is clear, concise and you understood within 20-30 seconds, what Kate does – good lesson in structuring your own pitch
What are your top three books that you’ve read/listened to?
‘Think and Grow Rich’ https://www.amazon.co.uk/Think-Grow-Rich-Napoleon-Hill/dp/1934451355/ref=sr_1_1?s=books&ie=UTF8&qid=1511865834&sr=1-1
‘The Power of Now’ https://www.amazon.co.uk/Power-Now-Guide-Spiritual-Enlightenment/dp/0340733500/ref=sr_1_1?s=books&ie=UTF8&qid=1511865805&sr=1-1&keywords=the+power+of+now
About mindfulness and living in the moment – with more clarity comes creativity
I published a book 5 years ago for start-ups and I’m thinking about re-publishing it
‘A Journey into Business’ https://www.amazon.co.uk/Journey-into-Business-Walk-Wildside/dp/1477226486/ref=sr_1_1?ie=UTF8&qid=1511865749&sr=8-1&keywords=a+journey+into+business
Top 3 tips for anyone at any stage of their journey for effective leadership or what they should be doing in business or something to learn or focus on:
Be authentic – have a clear vision that you can share – you can’t do it alone
Believe in yourself – re-frame and take a different approach
How can people work with you?
1 to 1 coaching
Face to face meetings – occasionally skype or zoom calls
Help individual business owners develop their management style and grow their business
Workshops on leaderships and management – learning skills to make you more effective in your new role
Presentation skills – learning and taking the opportunity to speak publically
Mastermind groups – once a month, gather up and share thoughts
Beneficial to have people at different levels to learn from
As long as there is a clear understanding about give and take
How can people connect with you?
The easiest way is through my website: http://www.engagewithbusiness.co.uk/
LinkedIn: https://www.linkedin.com/in/kate-wilde-8286895/
Facebook: https://www.facebook.com/engagewithbusiness/
Twitter: https://twitter.com/EngageWithBiz
Instagram: https://www.instagram.com/engagewithbusiness/?hl=en
The website is full of free to access information
If you don’t see the value in having a coach, then it’s worth having a conversation
Being a sole trader or small business can be a lonely place without a network
The difference it makes having someone you can just talk to and download to them
Kate, thank you very much for your time today, I defiantly have got a few valuable points from there.
We’ll defiantly be having you back on in the future to talk about ‘exit’, if you’re not building a business with an exit strategy, even if you don’t plan to sell it, you haven’t got a business…
Thank you for inviting me on to talk to your audience
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