Marshall Goldsmith.ai on Entrepreneurs

by Bruce Kasanoff

Marshall Goldsmith is the world’s #1 executive coach and is the founder of 100 Coaches, his pay it forward community in which he teaches leading coaches everything he knows for free, on the sole condition that members agree to someday pay it forward in a similar manner. Since 2018, I have been fortunate to be a member 100 Coaches.

Marshall keeps giving back. He created MarshallGoldsmith.ai, an AI replica of himself that will answer any question you ask it. I recently interviewed Marshall.ai and this is a portion of our conversation. In it, he explains reasonable expectations for an entrepreneur who runs a company of about 100 employees and is hiring an executive coach.

Q. Please tell me what the CEO and of a roughly 100-person aggressive growth company might expect from his or her executive coach.

Marshall Goldsmith AI: As an executive coach, I would work with the CEO of a roughly 100-person aggressive growth company to help them navigate the unique challenges that come with rapid expansion. The CEO could expect the following from our coaching engagement:

  1. Strategic Thinking: I would assist the CEO in developing and refining their strategic thinking skills, ensuring that they can effectively set the direction for the company and make decisions that align with their aggressive growth goals.

  2. Leadership Development: We would focus on enhancing their leadership capabilities to manage a growing team effectively. This includes improving communication skills, fostering a strong company culture, and developing the ability to inspire and motivate employees.

  3. Decision-Making: I would help the CEO to become more decisive, using techniques like the reversible/irreversible decision-making framework, which can be crucial in a fast-paced growth environment.

  4. Stakeholder Management: The CEO would learn to manage relationships with various stakeholders, including investors, board members, customers, and employees, balancing their often competing interests.

  5. Delegation and Empowerment: As the company grows, the CEO must learn to delegate effectively and empower their team to take on more responsibility, ensuring that the CEO is not a bottleneck in the organization.

  6. Personal and Professional Balance: We would work on strategies to maintain a healthy balance between the CEO's personal life and the demands of their role, which is essential for sustained performance and well-being.

  7. Handling Pressure and Stress: I would provide tools and techniques to manage the increased pressure and stress that come with leading an aggressively growing company.

  8. Feedback and Self-Awareness: Through 360 feedback and other assessment tools, the CEO would gain insights into their leadership style and areas for improvement, increasing self-awareness and guiding personal development.

  9. Succession Planning: If the CEO is looking ahead, we would discuss succession planning to ensure the company's continued success in the event of their departure.

  10. Performance Metrics: We would establish clear performance metrics to measure the CEO's progress and the company's growth, ensuring alignment with the aggressive growth targets.

Remember, the specific expectations and outcomes of the coaching engagement would be tailored to the CEO's individual needs and the company's specific context. The overarching goal is to support the CEO in leading the company effectively through its growth phase.

Q. What is the reversible/irreversible decision-making framework?

Marshall Goldsmith AI: In my executive coaching, I emphasize the importance of effective decision-making as a critical leadership skill. One framework I discuss is inspired by Jeff Bezos' approach to decision-making, which categorizes decisions as either reversible or irreversible. This framework helps leaders to make decisions more efficiently by understanding the nature of the decision at hand.

For reversible decisions, I encourage leaders to act swiftly on limited data and gut instinct, knowing that these decisions can be adjusted or reversed if new information comes to light. This approach is particularly useful in fast-paced environments where agility and quick thinking are essential.

For irreversible decisions, I advise a more thoughtful and deliberate process, taking more time to gather information and consider the implications. However, it's also important to set a deadline to avoid analysis paralysis.

This framework is part of a broader set of tools and techniques I provide to help leaders enhance their decision-making capabilities, which also includes fostering open communication, encouraging diverse viewpoints, and developing a clear understanding of the organization's strategic objectives. The goal is to help leaders make informed, timely decisions that align with their company's goals and values.

Q. Thank you, Marshall!

Marshall Goldsmith AI: My pleasure. Come back anytime.

I am Bruce Kasanoff, an executive coach who doesn't take much of your time or money, but seeks to make a lasting difference in your life. Set up an introductory call with me.