When a member of our board first suggested I work with a coach, I thought it would be a good idea for one reason: to learn how to get people to stop suggesting I work with a coach. A decade later, my coach, Marc Maltz, is one of my most valuable assets and advisers.
CEO coaches come in lots of shapes and sizes. Some are almost therapists, while others are retired CEOs themselves. Some are quiet and lead you to conclusions on your own and some are more in your face. You have to find one that's a good fit with your style, your pace of work and your ability to pay. It's one investment that I wouldn't shortchange as you try to grow your business and your career—even if you have done it all three times before.
We started Return Path in December 1999. Within 10 months, the company hadn't had time to turn into much of anything at all when the great Internet bust happened. We kept grinding forward in 2000 and 2001 and the end of that year had us going through a painful 50/50 merger with our only direct competitor and recapitalizing the company. We were still alive, even kicking but things were not going well.
When one of our board members, Fred Wilson, sat down with me to give me feedback that I could be doing a better job in a few specific ways and perhaps I might benefit from working with a CEO coach, my immediate thought was, “Clearly, the one part of my job that I'm not great at is managing my board, otherwise Fred would know how brilliant I am! Maybe the coach can help me with that.”
Fred introduced me to Marc Maltz from Triad Consulting, who had done some coaching work for other CEOs in his portfolio. I half-heartedly agreed to take an initial meeting and told Marc that I wanted help learning how to manage my board. He politely smiled and said he'd be happy to help with that but that perhaps we could start working together with him doing a 360 evaluation of me; maybe that process would highlight another thing or two to work on besides managing a board.
I grudgingly agreed. I didn't think I had a lot to learn. My upward reviews from my team were really strong, so they clearly liked me. I'd raised money successfully three times, built a strong strategic partnership with the top large player in our industry and convinced a competitor to join forces with us. For Pete's sake, I was the CEO! Didn't that mean I was the boss?
Ah, the arrogance of youth.
Ultimately, I overcame my initial resistance to working with a coach because (1) he was right that I had another thing or two to work on, and (2) he allowed me to come to that conclusion on my own—though he certainly served up the right data to make that conclusion a bit more obvious than it had previously been.
I had to wait for a board member to insist that I work with an executive coach. I urge you to take the initiative here and engage one of your own volition. You absolutely will not regret it.
I've worked with my coach in many, many different capacities over the years. Here are some examples of the work that he's done with me and my team:
The impact of all this work is impossible to quantify other than to say that, more than a decade later, Marc is still one of my and the company's most trusted outside advisers. In fact, I give him credit as one of a few reasons we're still in business!
Triad Consulting Executive Coach Marc Maltz on Working with a CEO Coach
If my long-time coach, Marc Maltz, has taught me anything, it's that I don't have all the answers. Here is his perspective on the value of working with an executive coach.
“A gem is not polished without rubbing, nor a man perfected without trials.”
—Chinese Proverb
The biggest risk for a CEO is to lose sight of the boundary between yourself and the role you fill. The role of a CEO coach is to help you navigate this often-turbulent terrain between self and role.
When you are the CEO, everyone seems to want a piece of you. You must decide who gets your attention, especially when there isn't enough to go around. It's not just about prioritizing—as CEO you need to leverage insight about yourself to effectively navigate the organization and the world in which your organization operates, including customers, key stakeholders and the board. No matter how prepared you think you are, as CEO you will be tested.
You are CEO because you command expertise in the organization's work and have convinced others that driving success will have your constant attention. You probably didn't anticipate the need to be a master of organizational dynamics, of individual and group psychology or in how these play out across the many disciplines that make up your organization.
Becoming the CEO is your commitment to being tested in every possible way. Your coach is your confidante, someone with whom you can think through intimate details of your role, yourself and your work.
You should engage a coach to:
Having a coach isn't enough. You need the right coach. Here are some questions to consider when engaging a coach:
Perhaps the primary purpose of a coach is to help you develop a new level of organizational empathy and learn to learn as a CEO. Being open to discovery, whether it is about yourself or your organization, is critical in the journey of developing as a CEO, regardless of age or experience. Maintaining an eye on the future of the business, while navigating the many stressors that exist throughout an organization, is a lonely task. The coach is the one person there to help you productively engage your world and advance your organization, your people and yourself.
Marc Maltz, Triad Consulting
18.225.234.24