#122: Business Coaching and Strategy
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Welcome back to another episode of the richer geek. We are very happy to have Stuart Leo. Stewart has 15 years of corporate experience, the background and consulting, leadership management and strategy. He's an innovator and visionary. He's the founder and CEO of waymaker.io. Waymaker is an intelligent business management platform that helps leaders build a better business in 30 days.
In this episode, we’re discussing…
[2:41] His business background and how they help people
[4:21] How does a person know that they’re stuck?
[10:43] How waymaker helps that person and these types of conflicts
[24:46] About his software, how it works and the different key metrics people are looking at
[26:32] How much of waymaker is basically like a consultancy, or is it like being a mentor, or coach?
[28:57] How do the companies identify each gap, is there a roadmap?
[31:38] Why most business actually don’t have a command center and the importance of it
[36:24] Where waymaker really focus, and how they build a methodology to develop strategies to succeed
[37:06] Get to the platform waymaker.io if you’re coach or a consultant, check out the partner program, you can use the tools and get support
[38:04] If your business jump on, take a free trial, use the diagnostic. And then you can look for a coach in your area
Resources from Stuart
Waymaker.io | LinkedIn | Facebook | Twitter
+ Read the transcript
Mike Stohler
What if you could be doing something smarter with your money that creates income. Now, if you're wanting to get ahead financially, and enjoy greater freedom of choice, if you want a comfortable retirement, and you know, you'll have more choices, if you can do more with your money. Now, if you've wondered who else is creating ways to make their money work for them, and you want actionable ideas, with honest pros and cons, and no fluff. Welcome to the richer geek podcast, where you here helping people find creative ways to build wealth and financial freedom. I'm Mike Stohler. And in this podcast, you'll hear from others who are already doing these things, and learn how you can too.
Hey! everybody, welcome back to another episode of the richer geek. We are very happy to have Stuart Leo. Stewart has 15 years of corporate experience, the background and consulting, leadership management and strategy. He's an innovator and visionary. He's the founder and CEO of waymaker.io. waymaker is an intelligent business management platform that helps leaders build a better better business in 30 days. Stuart, Welcome,
Stuart Leo
Mike, a pleasure to be with you today. Thank you for having me.
Mike Stohler
Absolutely, you know, a lot of our listeners are wanting to start their own business or they have their own business. And there's a lot of different ways to go about it. But there's not a lot of different ways of well, I should say this, you know, we always harp on people to have mentors, to go through platforms that help you make things easier, you know, a lot of businesses fail, because it gets so bogged down, because they're doing everything. And nobody knows how to do everything at 100%. So I liked the idea of whey maker.io helping us out. So give us a little bit of background on you first, and then we'll dig into waymaker.
Stuart Leo
That sounds great. Well, as you said, Founder, CEO of waymaker.io. waymaker, is all about helping people get unstuck. We'll talk about that a little bit later, and help them build a better business. And we're platform that ultimately were four things really were a methodology were a way of of making your way in business, which I'll talk to. We're a software platform that powers that way that diagnosis your business gives you a bunch of data, helps you plan your strategic goals and align those goals across your team. We're learning academy, we've got a digital Academy sitting around waymaker called waymaker Academy and we're a growing community of business leaders and advisors around the world that are passionate about helping business owners and their teams build better business and so as a platform, we principally support two types of people. One you could be a business coach or consultant that is looking for better tools to actually create that breakthrough with your clients. So that's that's us so we partner with coaches and consultants or to your that business that is stuck going, Man I just feel like I'm spinning my wheels or have stolen I don't know where to go Nick store I feel trapped inside this business. Then waymaker is designed to help you escape that stuckness we call it to find some tractioning and get moving.
Mike Stohler
Now how does a person know that they're stuck? What does that because a lot of people that are just so bogged down. I remember when I first started my business I was too busy to know that I was stuck.
Stuart Leo
Yep, yeah. Yeah, that's it's a good question. And we talk about three different types of stuck. And if you're listening you might resonate with one one or many of these if if you hit the jackpot and call bingo on all three then you better hit the emergency call button and enrich out straightaway. The How do you know if you're stuck I could feel like this one, you could be feeling like you're super busy, or your team is super busy, and you're super busy. But you don't feel like you're making any progress. It's like there's five of you in the team. But there's 50 things to do. And you're all working in 10 different directions, you know, that's, that's, we call that spinning your wheels, you just imagine a car on the side of a mountain, in the dirt or the snow, and you're just spinning your wheels, you're just super busy. There's lots going on the engines at high torque. But actually, the, the wheels are just spinning. And in fact, sometimes they're spinning, and then it feels like the whole cars just slipping down the hill.
And, and so there's that you could be feeling this impending sense of doom. That doesn't sound very positive, but could be feeling just just frustrated with, you know, why? Why aren't we making more progress. Another type of stock is actually you might have had a little bit of early success, and you've got some runs on the board you're powering through. But suddenly, you've hit this roadblock, it's like you've hit a brick wall, you know, there's, there's a something in front of you. And you just can't get past it, you try try a new marketing tactic, you hire a new person, you, you try new sales method, you're you spend more money on Facebook, or LinkedIn or something, and you just can't seem to find that kind of breakthrough. And we call that type of stuff, the stalled, you've had this early momentum and something's happened. Typically, either the market has changed around you, or you have changed internally, and you've kind of scope drifted off the original problem you're solving or sometimes it's both but anyway, and the third type of stuck is actually a quite a unique kind of stuck. And that type of stuff we call trapped, you actually have been fairly successful in your business, you've built up maybe a six or seven figure, business and, and there's money coming in, and you're doing well. But the problem now is that the business is built around you. And you can't escape the business, you can't go on holidays, you can't take a morning off to go and watch kids football game, you can't take wife partner out for a long weekend, you know, you're the one that's there working late at night while you're paying other people a whole bunch of money to do their job, and they go home and they're enjoying the fruits and the benefits of the business.
And you're the guy or the girl sitting there going, Oh, hang on a minute, I know the owner doesn't own this thing. And, and that kind of stuck is a really painful stock because you've made a fatal flaw along your journey, where you've failed to build leaders around you and, and embed a leadership and management methodology in your business that actually releases you to become an even better version of yourself to move, move on to bigger, better things, and then to be released into the financial rewards to be a business owner, not a business manager. And, and that is a massive mindset shift. So we, we we've designed our platform, which we should maybe talk to him more because it was really helpful for people. Well, let me just press in on that pain for a minute. Because I think a lot of people listening might be going all that could be me. And and there's this you know, a lot of people build a business for a job. I want to quit my job or I want to start a new thing. And so they go and buy a business or they start a business. But they realize they've just created a busier job sometimes at lower, sometimes at lower pay.
And, and all they've built is a job, they've invested a lot of money to create a job. And, and look, that's okay, for a period of time. That's not a bad thing. It's a bad thing. If at some point, your goal is to build an asset and actually have a business and something that you can go I can go away for two months, six months, and I can put people in charge. And this asset can actually be a growing asset, where there's people who are who are reinvesting and building and growing this thing that I own, and that's an owners mindset and known as mindset is very different to a manager's mindset. You know, one of the back when I was doing direct coaching and consulting is one of the one of the question Since I've often asked what would be, are you building a practice? Or are you building a business? What's the goal here? And and both can be effective, as long as you know what you're building. The problem comes, when you think you're building a business, you build a business around yourself, because you want that job and you feel like you need that job. And you haven't flipped into that owners mindset, which is a completely set a new set of metrics, approaches, styles. And, and that's really valuable. Because if you want to become a successful business leader, you've got to become a business owner, not just a business doer.
Mike Stohler
Fantastic. So a lot of great points there. And I completely agree, it wasn't until I flipped the switch and started to delegate and hire people. In order to delegate that's when I started having the freedom as an owner, so that I had the freedom to build the business, instead of turn it on the side of the mountain, just trying to keep it as is. Now does waymaker help that person that has one of those types of conflicts?
Stuart Leo
Yeah, yeah, it's, um, it's a really good question. And it comes back to the framework of the big idea sitting behind waymaker, which is something we call winemakers leadership curve. And anybody can get this by the way, you can jump onto waymaker.io, go to the Learn section, scroll, your second or third option down will be winemakers leadership curve. And the big idea is this. On that journey, you imagine a curve bottom left to top right. No rocket science here. Excuse me, as you move from bottom left to top right, in your, in your business journey. We want to get people from bottom left to top right, and we want to somehow help them do the right things at the right time along that way. That's, that's, you know, we're gonna go as a business and as a leader, we're gonna go through certain stages of growth. On the leadership curve, which stages we talk about ideation, great, I've got an idea for a business, identity and market fit. Okay, what role do we play within this market? What problem do we solve? Do we have fit to calibration? How are we building teams and skills and systems to maturity? How are we getting consistent returns to market leadership and mastering that's, that's an somewhere between maturity and mastery, you're actually going to initiate a new growth curve into something new at the classic s curve, that there's two stages.
The problem comes is okay, how do I know what to invest in and what to do at those different stages of business growth, because those different stages of business growth require different postures and different contexts for what you're doing. And so what we've done is you've stepped back. And we've recognized that in order to build a business, you actually have to invest in two things, there's actually only two things you need to invest in. Now, that sounds glib, and it is a little bit, it's quite high level, you need to invest in what we call skills, so people's competency people. So firstly, we've got to invest in these people. And the second thing we got to invest in, in systems, systems that make it easier for those people to do their job, so that they can learn new skills to lift the business. And then they can learn and put in place new systems to lift the business, that there's people with those skills, and maybe those people are growing by this stage in number are learning new skills. And can you see how the business grows, investment in skills investment in systems? And and so if we, if we know we've got to invest in skills and systems along that growth journey, where what skills and what systems at what point on the journey are the most valuable and are the most pressing to gain maturity and competency in in order to grow your business because it's kind of making sense. So we designed a data model that when you look at a business and let's break it up into six parts, to start with clarity and maturity of vision, clarity and maturity of market and ideal customer clarity and maturity of strategy and positioning and growth and clarity and maturity of your business model and key metrics and your value proposition, clarity and maturity of you customer acquisition, retention and growth, the experience through sales and marketing service and clarity and maturity of the employee experience the talent gap, how do we acquire retain employees? Our view is that that's if you break the business up into those areas. You need to work out which skills in which systems in which of those areas are the most important to investing, at what point of the business growth journey, you're getting the size of the problem now,
Mike Stohler
you help everyone with that those different years, like I don't know which one I need, which one.
Stuart Leo
So we stumbled across this amazing story that came out of the British military, actually, about 10 to 15 years ago, when I first started working on this kind of problem. And let me tell you that story, because and then I'm going to link it back to, you know, which skills in which systems to invest in. When the British military were, were moving from the 20th century to the 21st century, so late 80s, early 90s, they were recognizing that the world was changing, that the world of warfare was changing, and it was no longer traditional. It was very agile, it was very adaptive, different kinds of enemy. Although that's that's probably changed lately. The and so the way you developed your battle plans and your strategic decision making on the ground, had to change that there was there'd been 100 years of fairly traditional warfare.
And so in the late 80s, early 90s, strategic decision making on the battlefield by answering the question, what's the most valuable course of action to reach mission objective, was quite cumbersome and clunky and time consuming to develop that battle plan. That was the problem. They obviously needed to fix that problem. They needed a faster, better way of developing strategic battle plans to reach mission objective. That's a good thing that does that making sense. So the way they solve that problem was quite Socratic method. You know what I mean, when I say that, it's, it's, it's used at using a question and answer methodology. And so they developed a small number of questions, that if the leader of that that team on the battlefield, asked and answered these questions with his his or her team, they would always develop the highest value course of action to reach mission objective. And they develop this thing they call the British military seven questions. So if you're on the battlefield, you want to develop battle plan, ask and answer the seven questions. And it was amazingly transformative. It took a stuffy hierarchical, traditional fighting force into an agile, adaptive, decentralized, leadership driven 21st century fighting force. And I remember reading this story about the British military going, that's amazing. That's how cool is this? I remember coming out of corporate life recently at the time, and experiencing the best of the worst of corporate life, the West being the bureaucracy and the politics.
And you know, you want to change one thing, and you gotta go through six subcommittees and it takes two quarters. And I remember thinking, wow, if the British military can develop a small number of questions, to develop the hospital, a course of action, to reach mission objective on the battlefield, what kind of business? What kind of business do that? And so I started, I started becoming a military now, I'm not a military guy, take my hat off to anybody that served on them. It's wonderful. I have family members that do. But I just started reading going, how do they do this? How, what do they do? I probably ended up on some FBI watch list, at some point, getting into too many military chat rooms and trying to download stuff. But I was just on this passionate search to figure out how they did strategic decision making. And and then the net net was this. When you looked at what the military did around those seven questions, it was designed to blow something up, it was designed to go and take out an enemy, defeat the enemy and win that territory. In business, our objectives are slightly different. We want to build things up, we want to, we don't want to blow our enemies away. Literally, we might want to do it figuratively.
But you know, we're so the questions didn't really it wasn't just as easy as picking up those seven questions and, and taking them into the business world. It just didn't work. So that started this journey of going well, what if what if you could develop a small number of questions that if If asked and answered, developed and identified the highest value course of action for your business. And so that became a personal mission, I'm going to write, I'm going to write a set of questions that do that. And, you know, they're their key things to achieve. If you've got to maintain such operational awareness, what's going on around the business, what's going on inside the business, you've got to, you've got to be agile and adaptive. It's got a, it's got to be quick. You've got to be able to do this kind of like the military hunkered behind some Humvees in the desert, taking fire, develop a battle plan, or you've got to be able to do a backup head office HQ, over 234 days developing something quite strategic and complex, that's got to be quite malleable. It's got to be powerful. So this really started this journey. And it was about that same time we're working on this diagnostic tool, and the two came together. And an over sounds crazy. But over the course of about six or seven years, we developed this small number of questions, which for about five years was doing everything possible to not make it seven questions we just didn't want to be to like the military. In the end, it was seven questions. And so the methodology of winemakers, leadership curves is effectively this every quarter, come together, and ask and answer seven questions. If when you answer those seven questions, do question seven. Because question seven, literally says this. What are the one two or three things not 20? Things just the one, two or three things that if delivered? Are you done delivered working in your business in the next quarter, or half? Shift the needle on the organization? And, and that question is the question of prioritization and action. But the six questions leading before that actually take you around those six areas of the business, vision, market strategy, business model, customer experience, employee experience. And the diagnostic tool we've built, actually surfaces, all the maturity and clarity and growth gaps in those six areas. identifying the skills and systems the best practice skills and systems in market the best practice skills and systems in marketing, in sales in business model. And those skills and systems in our data model are connected to those growth stages of the business. And so by the time you're sitting down as a leadership team, asking and answering this strategic methodology, the seven questions, you're looking at your software, which is showing you oh, gosh, we actually were in the early calibration phase, coming out of market fit. And you know, what, in sales, for example, one of the leadership curves, it's showing that we're weak on customer journey weak on our sales persona, and weak on our CRM, okay. For this stage of growth, we should actually be building strong maturity in those areas. What are we going to do about that? Is this starting to make sense? And so in, what we realized was that, you know, as you started to practice this methodology, ask and answer the seven questions, use the diagnostic tool to surface the growth gaps, you could very quickly, I in a matter of minutes, identify the gaps, and the weaknesses and the strengths in your business. And you can identify the skills and the systems in the most valuable areas that if improved, generate the most value. And so you could start building some goals around that. And so that's how we help people. It's a, it's a complex answer, but it's, it's kind of like the military, it's a combination of data in your hands, and a strategic language in the other hand, and together with your team, you can actually build a strength and a competency in identifying the risks and the roadblocks building goals to overcome challenges aligning to those goals as you go out and execute. And rinse and repeat. And and just like the military, what you build in yourself and in your team is this wonderful strategic language of clarity, alignment, focus, and performance management. And those are the core disciplines of growth. Does that make sense?
Mike Stohler
Yeah, it's it's very interesting. Now, within your software, what are the different key metrics that people are looking at are they inputting things is almost like a CRM? Is they are inputting all this data, or Yeah, how's it working?
Stuart Leo
The Great question, say one of the one of the really valuable things about the software is the software isn't going to tell you a specific metric, it's not going to say, Hey, your lead to sale conversion ratios out, or your you know, whatever metric. What it's going to surface is that your team will say, we don't have clarity of the right key metrics. And if we did, it's going to improve our business. It's going to take it back to first principles. Does that make sense? Yeah. Which means that the coach or the consultant or the team leader sitting around is gonna go, Okay, we don't have clarity about our key metrics. Okay, what is our Northstar metric? What metrics matter? Which ones should we be tracking? And so it forces you to come back and go, okay. Because it will be different for every business. So we force every business to ask the first principle question to catalyze the conversation around the things that matter most. And then to think, you know, the most important thing we can help leaders do is to think well together. And so we catalyze that issue. And from there, it's over to you. You should be building your goals, your key metrics around those things.
Mike Stohler
That makes more sense. How much of waymaker is basically like the consultancy? aspect of helping them? You know, almost being a mentor a coach?
Stuart Leo
Yeah, yeah. I mean, you could, in a sense, pick up waymaker and use it on your own. When we were first building waymaker. You know, when we're in that ideation stage, we wondered, gosh, is this a is this a coach or consultant killer, you're gonna knock out all the coaches and consultants in the world and, and just have this kind of little AI tool that's now running your business. And we really thought that's where we were going. And we realized that actually, no, that's not right. And we specifically, we learned this, we learned the value of a three way relationship, business to business coach and consultant, and business coach and consultant to a system of intelligence. That's a powerful three way relationship. Because the coach or the consultant, who's really their advisor, is performing a very important task of catalyzing those questions and guiding and bringing some expert knowledge into that local situation. But the software platform is making it much easier for all parties to work together, much easier to get the right data up on screen, and much easier to track where you're going and what you're doing. And so we're very clear about the problem we solve. We make it a lot easier for business to diagnose themselves and for a coach or consultant to work with them. And so we realized the power of that three way relationship and taking out the coach or consultant actually reduces the effectiveness of the business's ability to think well, because they need that external coaching. It's a skill, you know, we believe in investment of both skills, and systems. And we realize that if we blew up the primary skill would actually be going against our own philosophy, and it would make a worse situation. So that's when we went, Okay, let's make it easier for coaches and consultants and businesses to work together. And that's, that's where we focus.
Mike Stohler
And how do the companies know is there like a roadmap? It's like, Oh, we've identified this. And we need this now. This is the next step.
Stuart Leo
Yeah, so within the software tool, there's there's eight or nine leadership curves, and each leadership curve deals with one of those specific areas of your business could be sales, it could be marketing could be service. And through our research and development, we've we've mapped out on each curve, there'll be 20 to 30 skills and systems best practice skills and systems, that if you're a mature organization, you will have maturity in in at least 80% of those things. That's so so it's like, it's like saying, Okay, I want to be a professional footballer, okay. So you've got to, you got to have professional football level competency in catching the ball and kicking the ball. In running in fitness in health and nutrition. You know, there's, there's a, there's a, it's not just one thing that makes you great. And so, each of those leadership curves kind of plot out a maturity pathway for each of those disciplines. And so as a bit Business, one of the things that's quite challenging often is well, which area of my business? Should I really be focusing on? Should it be on the employee experience? Or should it be on sales? Or should it be on vision and problem solving, you know, and that's actually where a lot of business owners struggle, because they try and do all of those things at once, I've got to work on all of those things at once. And the reality is this, if you do, you will fail, you actually have to work on one or two things at once. And you've got to accept imperfections elsewhere, and just focus on the most valuable. And so one of the things our software tells you is, okay, of those six areas, what's the most valuable thing you can be working on right now. And that changes quarter by quarter, because the marketplace changes, the business changes. If you build an invest in great skills in in your sales system, sales and marketing, say for the next three quarters, you will have put to the backburner potentially your employee experience and your business model. And so by the three quarters later, it'd be like actually a you know what the most valuable things we could be working on now is our employee onboarding and our employee experience. Okay, let's shift focus there. So it teaches you to, to build leaders, and to build skills and systems in those core areas. And if you do that, well, you're actually in the process of building leaders, you're extracting yourself out, because you're investing in new skills and new systems for your team, which D risky from those problems that we talked about earlier in the program can help.
Mike Stohler
It does. And so it does, it actually will diagnose gaps. And then once the diagnosis gaps in, it'll give you goals. And, you know, it sounds like it's, it's, it's we it's an easier way to accomplish success.
Stuart Leo
Yeah, we realized early on that most businesses actually don't have a command center, a place where you actually work on running the business. Many businesses have dashboards, and they have a boardroom or a meeting room. But they don't have a command center. How much time have you got on the podcast if you have time for one? One more story. One more story? Yeah, one more story. Just a quick one. And it's another military story. But we learned a lot from the military. And this time, it's from from you guys. The United States. All right. And, and the power of the a good command center is phenomenal. And the United States learned this lesson and taught the world this lesson. And if you go back to the 1960s.
The the the situation was actually quite dire. Where remember the Cuban Missile Crisis? Yes. So not late 1950s, early 1960s. John F. Kennedy is, is president. Russia has got a whole bunch of missiles lined up in Cuba, that well, where you live, and Florida and southern US. And that's a problem. That's a serious problem. So long story short, the United States decided to invade and unsettled Cuba. And we had what was called the Bay of Pigs invasion, if you remember is bit of an unmitigated disaster. You know, the greatest fighting force in the world, got their butts handed to them by a second third world rate, guerrilla force, you know, that's that's not good. So, as president should, why, what went wrong here? And so an investigation was was ordered an inquiry. And it found these three things, one, the different branches of the military, were not collaborating working together. The CIA wasn't talking to the Navy, the Marines weren't talking to the CIA. None of that objective information was getting up to the commander in chief and to information wasn't getting to the commander in chief for decisions in a timely and effective manner. And the information that did get there was inaccurate. So by the time instructions were being issued out, they were ineffective. It was. And so John F. Kennedy actually said, right, we have a, we have a command center problem. And he did something amazing. He issued the instructions and commissioned a bunker to be built under the West Wing of the White House. And he built what we'll know today as the White House Situation Room. It's actually called the JFK conference room, the John F. Kennedy conference room and Institute did a command center here is a 350 year old nation, one of the greatest nations on earth without a command center was the findings of that result, as that makes sense.
But he did something fascinating. He said, It's not about a room, the room is a place where we'll be, but it's actually about a methodology. And he instituted a policy through Congress that that ensured that an apolitical, so a non biased represented representative of every branch of government would sit in this command center. And they will be responsible for bringing objective unbiased information to the table, so that the Joint Chiefs cabinet and the commander in chief can make effective decisions in a timely manner, and issue out commands and goals for whatever department is required to execute, and move the nation forward, kind of getting the drift here. And ever since the early 1960s, the United States have run every domestic and international strategic operation from that situation, you know, with the world watched, but a glimpse into this room when Obama and and, and Seal Team Six took down Osama that was that was run from the JFK conference room.
And so here's here's the big idea. Most businesses have a boardroom, they have a set of dashboards, but they don't have a command center, they don't have a place where objective information from all areas of their business comes in in an effective and timely manner. And they don't have a methodology that can process that information and develop strategic goals and issue out those goals for their team to execute. And so we thought, well, what if you could build on? Well, if you're gonna build a command center in the 21st century, it's actually going to be in the cloud. So so that's what waymaker really is. That's kind of a long build up to end on sort of the big idea.
Mike Stohler
Great, it's great. You know, and it sounds like it's something it's needed. You know, everybody, you know, we have to wrap up now, but, Stuart, it's been wonderful. Everybody's WaveMaker dot I, O. Stuart, how? What are some of the other ways that people can get a hold of you?
Stuart Leo
LinkedIn is the best place to get me search Stuart, Leo waymaker, you'll find me connect with me, I'll accept. I think I just accept everybody. If you chat with me, I'll chat you back. LinkedIn is the place to get me. If you want to jump onto the platform waymaker.io If you're a coach or a consultant, check out our partner program so that we can support you and you can use our tools. If your business jump on, take a free trial, use the diagnostic, you know, get a sense of it. And then look for a coach or a consultant in your area. You know, we've we've now got partners all around the world. We'd love to connect you one with one and and help you grow your business.
Mike Stohler
Perfect. Well, Stuart, thank you so much for coming on the podcast. Wonderful. Thank you so much.
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ABOUT STUART LEO
Stuart Leo is the founder and CEO of Waymaker.io - an intelligent business management platform that helps leaders build a better business in 30 days.
Stuart is a global thinker in strategy, systems, and leadership development. As the founder of Waymaker.io he has led the creation of waymaker’s Leadership Curve - a revolutionary way of building clarity, alignment and remarkable results for any organisation.