Performance coaching is about unlocking a new level of capability in your team and helping individual members achieve the next level of greatness.
Your responsibility as a leader is to bring out the absolute best in your individual team members, and ultimately the whole team, which filters through the entire business.
It is also the most under achieved area in the real estate industry.
How can we truly maximize performance coaching in our businesses to mentor others to achieve the greatness they possess? Start by seeing your individual team members as your clients. Your job as performance coach is to increase their capacity to achieve, which will ultimately enhance the performance of the entire team.
- Performance coaching isn’t about providing appropriate “deal support” (although deal support is an important function)
- Performance coaching is about helping people to achieve their goals.
As a leader in the real estate industry you fulfil three distinct functions within your business including:
- Performance Coaching
Many people confuse the three functions. Is there a difference or are these descriptions simply three “job titles” that are interchangeable?
All three roles overlap and have similarities but they are three different skill sets that are valuable in specific situations.
But how do leading and managing differ from performance coaching?
Let’s take a look:
Leadership qualities are important for heads of any business but the objective differs from that of performance coach. We lead people in the direction of our vision; we inspire them to see and buy into our vision.
Great leaders have integrity, top communication skills, are loyal, can make the tough decisions, empower others, and are often charismatic.
A great leader will say, “This is where we are heading and how we get there”. Once you have your team turned on to your vision you can lead them to work in unity in achieving the goal.
The big difference here is that we manage projects and processes, not people. As a manager you are responsible for providing clear, concise focus on outcomes, deliverables, and deadlines to your team.
A term that often gets confused with coaching is “sales management” which is the focus on the numbers, processes, and projects but it leaves out the most vital part of success: coaching your people.
Management happens the most often within a business but would you be surprised to learn that it’s not your most important function?
You may fulfil all three capacities in your business: leader, manager, and coach, but the real challenge is recognizing when to perform which task.
3. Performance Coaching
Performance coaching is literally moving your people towards their goals. As a performance coach within your business you guide your team members in two ways: moving people towards an effective decision and helping people be in action towards their goals.
1) Moving people towards an effective decision
The root of the word decision literally means to “cut off”; in other words, committing to a decision removes all other choices.
Making a decision cuts off all other options.
The key to successful coaching is helping your team to cut down their options. We become overwhelmed by too many options, and most often why someone doesn’t move forward.
It may look like they are procrastinating.
It may look like they are being lazy.
But in actual fact they simply don’t have clarity.
When you cut off all the options you are left with only one thing to do:
so Just Do It.
2) Helping people be in action towards their goals
This is moving your team to achieve their goals, not your goals. Big difference. Setting the right goals creates a tension similar to the strain found as an elastic band is s t r e t c h e d.
Not enough tension and the band will go nowhere (ie: low goals that don’t generate excitement to achieve).
Too much tension (from being overly stretched) and the band will snap erratically or break (as in unachievable goals that are set too high).
Your role is to nudge team members with low goals and encourage them to increase their vision.
Alternatively, and this is often true with new people, you may need to guide them to lower expectations that are too high and are unachievable or they may burn out.
Team members who don’t know where they are or where they want to be will come across as underachievers and unproductive because they are unable to take any action.
Performance coaching is guiding your team to recognise their current reality (where they are right now) and their desired reality (where they want to be).
Right in the middle of their current reality and their desired reality is a GAP. Your job as a performance coach within your team is to bridge the GAP and together design an Action Plan to move them from Point A to Point B.
TIP: If a team member seems unmotivated it may be because there is no GAP between where they are and where they want to be (the tension of where they are and where they want to be is too slack).
Your task is to work with individual team members to achieve a different desired reality that creates a challenge; a tension that motivates them to achieve.
As a coach to your team you want to:
- Build on strengths
- Increase confidence
- Learn and grow
- Empower beliefs;
- Help to make great decisions;
- Empower action
- Develop habits
- Support change
- Create brilliant results
- Create accountability
We can evaluate the long term success of our coaching sessions by measuring outcomes in each particular area in which our team members are being coached. I hope you enjoyed this article about How performance coaching can up-level your real estate biz! Get to it.
If you are a leader wanting to seriously take charge of your future results and the success of your business, check out The Business of Real Estate coming up in September.