What Is "Executive Coaching?"
Executive Coaching has been around for decades (longer?), but it is fairly new to PCA. Our super-talented Rob Hoover, now sadly for us, retired, introduced the concept to us and our members and it has been a big hit. But what is it? How does it work? What specifically would you focus on in Executive Coaching?
Please tune in this week as Wayne explains the concept of coaching, walks through the four different types and even introduces a fifth coaching type. Ultimately, executives, athletes and everyday people use coaches in order to get more out of themselves and their teams than they could on their own. Can it really be that beneficial? What has your experience been? Please share your thinking with us at [email protected].
We are less than a month away from our first Contractor Business Boot Camp class of 2026. Just a handful of seats remain. Don't let go of this opportunity to enroll your high-potential rising leaders to this unique leadership development program where they will learn the skills needed to work ON their business rather than IN their business. The class starts of Feb 25th in Dallas, TX. Contact Charlotte today at [email protected] to find out more.
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Host Wayne Rivers appears in front of a white screen and talks to the camera.
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WAYNE RIVERS: Hi everyone. This is Wayne Rivers at Performance Construction Advisors, where We Build Better Contractors.
This week I want to talk about executive coaching. Before I do, Boot Camp is about a month away, February 25 in Dallas. Contact Charlotte and she will send you information to get your folks signed up.
So what is executive coaching? I didn't know for a long time, and I'll talk more about the origin of executive coaching here, but before I do, I want to read you an email from one of our vlogs last year's from Ed Longville, who's the CFO at Royal Roofing. And he said, "I particularly enjoyed this week's video on wish list. I can tell you from my days as a commercial lender who focused on construction, the biggest blind spot I have seen over the years is the double-edged sword of rapid growth. I've seen contractors over-leverage, not necessarily financially, but on a dependence on one or two single customers, which led to both remarkable success and ultimately complete financial ruin. I'm speaking of subcontractors in particular, but it can easily apply to GCs also. The blind spot for subs in particular is the lack of a true view into the financial capacity of an owner or a GC with whom they may be working." Great perspective from a former banker, a current CFO. We have a solution, potentially, for that. John Woodcock did a white paper, and maybe a webinar too, I think, on proof of financing. Proof of financing. If you go to our website, you search proof of financing, boom, it'll pop up for you. And you'll have a new tool in your arsenal to help combat some of these things about which Ed is speaking.
Okay. Now, executive coaching. How did I learn about executive coaching? Well, we hired a guy. We have Rob Hoover, since retired, but Rob was a tremendous talent and tremendous blessing to us. And he brought us the concept of executive coaching, because he'd been doing it for decades. And so what is executive coaching, then? We'll talk about how we get started in executive coaching. In executive coaching, co-designing the agenda includes deciding with the client the specific goals to be achieved.
And he breaks it down into four different types of specific coaching. One, coaching for skills. Coaching for skills focuses on a specific task or project, could be a method, strategy, or behavior that corresponds with success on that particular project. Number two, coaching for performance. This helps people improve in the context of their career or their personal life. A great deal of executive coaching has to do with personal life. We're pretty good at work. Unfortunately, we find ourselves, as our careers progress in construction, working 50, then 60, then 80 hours a week, and that takes away from your capacity to deliver as a human being, a husband, wife, father, mother, whatever it happens to be.
Number three, coaching for development. Coaching for development focuses on where the client wants to go in the future. This type of coaching is often used to help clients develop competencies that will facilitate a promotion or new career opportunities. And then finally, coaching for the executive's agenda. This focuses on the larger issues in the leader's life. Leader of a complex business often benefits from having a confidant, someone to bounce ideas off, explore different ideas and perspectives, get constructive feedback, et cetera. The confidential relationship is a welcome opportunity to discuss a variety of business or personal, back to that again, issues, for one reason or another, they may not be able to share freely with others.
So there's a fifth kind. So this is Rob's outline of the four types of executive coaching. And the fifth one is a combination of the top four. So I was thinking about coaching, and I was thinking about our members, and these are people who either are reaching or have reached the ultimate pinnacle of success in construction. They're CEOs, presidents, et cetera, et cetera. Why would they need coaching?
Well, start thinking about it. Tiger Woods uses a coach. Novak Djokovic uses a coach. Steph Curry uses a coach. You used coaches. I used coaches, in high school, and college, and personal trainers as an adult to get in better shape, et cetera, et cetera, et cetera. Fortune 500 CEOs use coaches all the time. If these folks find it beneficial to use a coach, then maybe you can too.
So the thing about coaches, whether it's your high school football coach or whether it's an executive coach at your current age is the coach helps you get more out of yourself. The coach challenges you and holds you accountable. And that's something that senior leaders and construction companies surely need.
So share with me, do you think this is harebrained? You think it's a harebrained thing? I thought so too, but now coaching is about 20% of our monthly one-on-one invoicing. So any number of our members ... This was a surprise to me, because we never offered it as a product, ever, before. But now, a great number of our members hire some of our guys for executive coaching. I didn't know what to expect, and here we are. So let me know what you think, [email protected]. Is this foolish nonsense, or is it something of real value?
This is Wayne Rivers at PCA, where We Build Better Contractors.
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