Themos Pentakalos

It can be tough asking for feedback from a client you are charging an arm and a leg for. I find it is easier on both parties if the feedback is tied to a specific step, process, or activity. Let's say you just assigned your client something to do. After the activity, you can ask such things as "did you find that useful?", "how would you improve this activity?", etc. Also, a lot of times clients may be frustrated with you because you are pushing them to do something that requires them to change their ways. That's not a good time to ask for feedback. If you were an athlete, would you want your coach to ask you "how's my coaching?" while he is giving you extra push-ups at the end of a 2-hour practice, or after you've won a big competition?

I know there is a saying "fail fast, fail often", but I think it's nonsense. How about adjusting before the failure happens? I prefer "succeed fast, succeed often"!

Obviously challenges happen. What I would like to add here is that your coach can help you prioritize. I see executives all the time fighting the "fire of the day". But is that the best use of their time? Often it is not. Your coach should offer you a litmus test by which you evaluate which fire is really worth fighting. Some fires are best delegated.

Creating a sense of pressure and urgency is very important here. Obviously, if you are an executive, you are already very busy. You can set all the goals in the world but create an accountability plan, you won't succeed. If you follow sports, look at the top teams in the world. The head coaches demand absolutely 100% from their top players on every practice and every game. If you don't turn up, you don't play next game. A truly capable coach will drive that sort of expectation and performance out of you. The plan needs to accommodate that sort of performance expectation.

What if you don't know what you don't know? We can all be blind to our own shortcomings. I come across business owners and executives in the C-Suite who don't have a clear definition of "good". So, as part of identifying your goals, I suggest studying the best in your fiend -- the best companies, the best leaders, the best minds. I also suggest leaving egos at the door. Our ego prevents us from truly identifying the things that really need improvement. Be hungry to learn something new, but also be humble. That combination will allow you to truly dig in on the things that are probably holding you back.

Great suggestions. My only additional comment is that VC/PE typically don't hire operating partners who don't have prior VC/PE experience. In my 10 years in PE, you couldn't become an operating partner unless you had first done an exit as a CEO in a PE transaction. Perhaps that's not the case with every VC/PE out there but I do believe one needs to first demonstrate contribution on an actual portfolio company before moving up the ranks to an operating partner.