Harvard Business

Harvard Business

HarvardBusiness

Financial Crisis

Financial Crisis – Bankrupcy (Handout 2008/10/09)

Lehman Brothers Holdings Inc. was a global financial-services firm prior to its bankruptcy and sale in 2008. The firm did business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking. It was a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries included Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group. The firm's worldwide headquarters were in New York City, with regional headquarters in London and Tokyo, as well as offices located throughout the world.

On September 15, 2008, the firm filed for Chapter 11 bankruptcy protection; the filing marks the largest bankruptcy in U.S. history. The following day, Barclays plc announced its agreement to purchase, subject to regulatory approval, Lehman's North American investment-banking and trading divisions along with its New York headquarters building. On September 20, 2008, a revised version of that agreement was approved by Judge James Peck

Lehman Brothers was founded in 1850 by two cotton brokers in Montgomery, Ala. The firm moved to New York City after the Civil War and grew into one of Wall Street's investment giants, despite period brushes with death. On September 14, 2008, the investment bank announced that it would file for liquidation after huge losses in the mortgage market and a loss of investor confidence crippled it and it was unable to find a buyer.

Lehman's slow collapse began as the mortgage market crisis unfolded in the summer of 2007, when its stock began a steady fall from a peak of $82 a share. The fears were based on the fact that the firm was a major player in the market for sub-prime and prime mortgages, and that as the smallest of the major Wall Street firms, it faced a larger risk that large losses could be fatal.

As the crisis deepened in 2007 and early 2008, the storied investment bank defied expectations more than once, just it had many times before, as in 1998, when it seemed to teeter after a worldwide currency crisis, only to rebound strongly.

Lehman managed to avoid the fate of Bear Stearns, the other of Wall Street's small fry, which was bought by JP Morgan Chase at a bargain basement price under the threat of bankruptcy. Lehman and Bear Stearns had a number of similarities. Both had relatively small balance sheets, they were heavily dependent on the mortgage market, and they relied heavily on the repurchase market, most often used as a short-term financing tool.

But by the summer of 2008 the rollercoaster ride started to have more downs than ups. A series of write offs was accompanied by new offerings to seek capital to bolster its finances.

Lehman also fought a running battle with short sellers. The company accused them of spreading rumors to drive down the stock's price; Lehman's critics responded by questioning whether the firm had come clean about the true size of its losses. As time passed and losses mounted, an increasing number of investors sided with the critics.

On June 9, 2008, Lehman announced a second-quarter loss of $2.8 billion, far higher than analysts had expected. The company said it would seek to raise $6 billion in fresh capital from investors. But those efforts faltered, and the situation grew direr after the government on September 8 announced a takeover of Fannie Mae and Freddie Mac. Lehman's stock plunged as the markets wondered whether the move to save those mortgage giants made it less likely that Lehman might be bailed out.

On September 10, the investment bank said that it would spin off the majority of its remaining commercial real estate holdings into a new public company. And it confirmed plans to sell a majority of its investment management division in a move that it expects to generate $3 billion. It also announced its latest round of bad news -- an expected loss of $3.9 billion, or $5.92 a share, in the third quarter after $5.6 billion in write-downs.

By the weekend of September 13-14, it was clear that it was do or die for Lehman. The Treasury had made clear that no bailout would be forthcoming. Treasury Secretary Henry M. Paulson Jr. and Federal Reserve officials did encourage other financial institutions to buy Lehman, but by the end of the weekend the two main suitors, Barclay's and Bank of American, had both said no. Lehman had reached the end of the line. Bank of American decided to buy Merrill Lynch.

In New York, shortly before 1 a.m. at September 15th, Lehman Brothers Holdings announced it would file for Chapter 11 bankruptcy protection citing bank debt of $613 billion, $155 billion in bond debt, and assets worth $639 billion. It further announced that its subsidiaries will continue to operate as normal. A group of Wall Street firms agreed to provide capital and financial assistance for the bank's orderly liquidation and the Federal Reserve, in turn, agreed to a swap of lower-quality assets in exchange for loans and other assistance from the government.
Barclays Reaches $1.75 Billion Deal for a Lehman Unit

Two days after Barclays, the British bank, failed to reach a deal that would have salvaged Lehman Brothers, it moved closer to its prize on Tuesday, striking a tentative agreement to buy the broken investment firm’s core capital markets businesses for $1.75 billion — far less than Lehman had hoped for.

Discuss question:

1. What do you think that kills Lehman Brothers?
2. Why do you think Bank of American helped Merrill Lynch rather than Lehman Brothers?
3. What do you think is the best investment way in this uncertain economy?
4. What do you think about Barclays’ doing? Smart or un-ethical?

Vocabularies:

1. Term investment - In general, an investment instrument (bond, debenture, preferred stock/preference shares) that matures in more than 10 years.
2. Bond - Finance. a certificate of ownership of a specified portion of a debt due to be paid by a government or corporation to an individual holder and usually bearing a fixed rate of interest.
3. Fund - a sum of money or other resources whose principal or interest is set aside for a specific objective
4. Subprime mortgage - A type of mortgage that is normally made out to borrowers with lower credit ratings. As a result of the borrower's lowered credit rating, a conventional mortgage is not offered because the lender views the borrower as having a larger-than-average risk of defaulting on the loan. Lending institutions often charge interest on subprime mortgages at a rate that is higher than a conventional mortgage in order to compensate themselves for carrying more risk.
5. announce - to make known publicly or officially; proclaim; give notice of
6. accuse - to charge with the fault, offense, or crime
7. liquidation - the process of realizing upon assets and of discharging liabilities in concluding the affairs of a business, estate, etc.
8. rollercoaster - to go up and down like a roller coaster; rise and fall

Coaching Power Tools

8. Putting It All Together

Coaching Dialogue

Coachee: I’d like to be more comfortable speaking up in meetings. I think it holds me back from being an effective leader.

Coach: How can you do that?

Coachee: Well, instead of remaining silent, or listening to everyone else, I know I should do it. Even though it sounds simple, I get nervous at the thought of it.

Coach: Many people feel that way. You have a lot to contribute. How much do you believe that?

Coachee: I don’t really believe my thoughts are valuable to others.

Coach: We’ve hit on something important. It is that thought that keeps you stuck. When you shift your thoughts to realizing you have important contributions, you will speak up without effort. How can we practice shifting that thought that this week?

Coachee: Well, I do have a meeting Thursday. I need to remind myself that I do have important things to say. And I will share my thoughts at least two times during the meeting.

Coach: You sound quite energized when you say that. What else can you do?

Coachee: Well, I know that being a successful leader will not happen for me unless I overcome this. I’ve been safely avoiding it for years but I’m not willing to do that anymore. I’ve been thinking about looking for ways to grow my skills.

Coach: If I understand you correctly, leadership and the ability to speak out in public are closely connected for you?

Coachee: Yes, absolutely. From my experience, all great leaders are comfortable speaking out when they have thoughts and ideas.

Coach: Do you know of any ways you can learn some skills in this area?

Coachee: Well, I’ve heard good things about Toastmasters for years. Maybe I’ll check it out.

Coach: Maybe? It sounds as though you are not sure if you can commit to that.

Coachee: That’s true. The idea of speaking in public still makes me nervous. And there is always the issue about my schedule.

Coach: What would be a good first step to make in that direction?

Coachee: I could check out a few clubs’ and see if there is one that is suitable for me.

Coach: What could prevent you from accomplishing this?

Coachee: Scheduling, I guess. This is really important to me, so I will find a chapter in a location that fits my schedule.

Coach: Great. So this week, you are committing to... speaking up, at least twice in Thursday’s meeting, and you will explore Toastmasters clubs in your area for one that fits your schedule and feels suitable for you.

Coachee: Yes, I can commit to doing those things.

Coach: Fantastic! I fully support you in moving ahead with these actions.

Acknowledgement and Enthusing

7. Acknowledging & Enthusing

Acknowledging

How often do people tell us they support us in what we are actually doing? Usually we only hear from someone when me make a mistake or something doesn’t turn out right.

The truth is, we all know how good it feels when some one we trust tells us how well we have done, or reminds us of the power and benefit our talents and skills have had on others. In cases like this we are being acknowledged.

A coach needs to know how to acknowledge some one in the process of learning, taking action, and developing. Acknowledgement comes after some one has taken action and done something. It is about letting people know we support them in these actions.

Questions: Think of a time in your life when you received acknowledgement, how did it make you feel?

Common Reasons We Avoid Acknowledging:

You observe that a subordinate or superior made some great stride or made a significant contribution, or resolved a difficult situation. Did you tell him/her what you noticed?

• Well, it is part of her job….
• Oh, he already knows that it.
• He doesn’t want to hear that from me. It’s not my place.
• No, are you kidding, she’s my boss!
• No, I didn’t. I’m not that familiar with her.
• No, I didn’t say anything because I want him to get better at it…

Two Parts to a Powerful Acknowledgment

1. Delivering it (sincerely & truthfully)
2. Allowing it to be received

Three Typical Deflectors

1. responding with a reciprocal acknowledgment
2. minimizing the impact with self-deprecating humor
3. flat out rejecting the comment, with modesty or not

Coaching tip: Don’t just blurt your acknowledgment and be content with getting the words out of your mouth. Let it land. Make sure that it has been heard and understood and let the recipient bask in the impact for moment.

Questions: What is the difference between acknowledgment, encouraging, and complimenting?

The Language of Acknowledgement

The language we use for acknowledging someone is: “I want to acknowledge you for…”

• I want to acknowledge that you do a great job in creating your own style.
• I believe that’s a wise decision and I support you in that.
• Good for you, coming up with this novel solution.

• You conducted that meeting extremely well and we are all please with the outcome.
  

Compare:

I like your dress.

à I would like to acknowledge how well you always look. You have a great sense of style.

You did a good job. à

Thanks for sending me the files. à

Sample Dialogue

Co-worker: Maybe I shouldn’t have said anything. It seems to get me in trouble with Mary.

Coach: What you did was point out the disorganization within the team. And you spoke out even though you knew it might have a cost. I want to acknowledge your courage for doing that.

Co-worker: Thanks. I might have to also let Mary know that I appreciate all her efforts to make the project a success.

Coach: I think that’s a great idea. I know you can do that.

Effective Feedback

6. Effective Feedback

Giving Feedback

By nature, most of us are not inclined to give feedback. Somehow, at best, we learn to give tactful feedback, but the sacrifice candor in the process. The result is that giving feedback fills us with apprehension, partly as a result of a lack of skill. As a result, we may offer hold back both praise and criticism.

Check those that apply to you.

Often I hold back from giving feedback because:

• I worry it might upset the person
• I are afraid that the person might reject you or the feedback
• I fear the person might ‘hit back’ at me with critical feedback
• I worry it might lead to a confrontation that would be difficult to resolve
• I feel that the issue is not that important

Questions: How do you feel about receiving feedback? What kind of feedback has made a difference to you? What kind of feedback left you disempowered?

What do you think is one of the most common mistakes that we make when giving feedback?

What is the difference between criticism and feedback?

Key Points of Effective Feedback

One of the most valuable contributions you will make to people you manage or work with is to give them effective feedback. When applied appropriately, feedback can open up whole new opportunities.

1. Always ask for permission before giving feedback.

May I give you some feedback?

Can I share with you what I have observed?

2. Take ownership for your feedback. Be responsible for what and how you provide it. To do so, use personal pronouns such as "I" and "my".

I have noticed lately that you have been unable to complete your assignments on time.

When you did that, I felt frustrated because…

3. Become aware of your judgments and let them go.
4. Feedback is about simply telling someone what has been observed. We are mirroring back the way that we see it.

I have noticed that…

I can hear you are very…about that.

5. Feedback should always be specific. Global statements are to be avoided.

That was a nice presentation.

The information you presented was easy to follow. You looked confident.

Feedback should be depersonalized. Focus on behavior, not the person.

Types of Feedback

Affirmative feedback tells the person what they did well and rewards them for it. Its purpose is to encourage the person and to reinforce their behavior.

“Jane, you really did well to finish that report at such short notice. I really appreciate the effort you put into it.”

Developmental feedback tells the person what needs to be done better. Its purpose is to help the person discover or see how they could do a better job next time.

“Jane, I noticed that often there are some typing errors in the reports you have submitted. I am curious what might be the reason for this?

Negative Feedback

Depersonalize negative feedback by using first-person statements to describe your feelings, the behavior that is causing those feelings, and the unproductive consequences of such behavior. Conclude your remarks with an appeal for help. Here’s an example that is candid, constructive, and issue-specific.

I am (first-person) frustrated (feelings) when reports continually arrive late (behavior causing feelings). When individual reports are late, they cause departmental reports to be late; and we do not know the status of certain business issues until it is too late to act (negative consequences). Can you help me get things back on track (request for help)?

Positive Feedback

Recognizing an achievement or contribution is most effective, and far more motivating, when using second-person statements to describe commendable behavior and the positive consequences of such behavior. Closing your comments with an appeal for help in a useful option.

Your (second-person statement) suggestions at the meeting were quite valuable (positive behavior). They led to an effective plan for pinpointing the causes of shortages (positive consequences). How can I help you continue making such valuable contributions to our staff meeting (request for help)?

Dynamic inquiry

5. Dynamic Inquiry (Powerful Questions)

“Everyone has their own answers. They just need to be asked the right questions.”

“Let go of having to know everything. Coaches have the right questions, not the answers.”

“To provide answers is easy. To ask insightful questions is hard.”

--Coachfucious

Powerful Questions

Asking questions is the key to gaining knowledge. A question can be the most useful tool to assist people to think clearly and solve problems. Compelling questions help with the problem-solving process. They “dig in” deeper and open our thought to explore ideas even further. While you may not immediately know the characteristics of a powerful question, it’s actually quite easy to recognize one.

Exercise: Score the power of these questions on a scale from 1 to 10 (with 10 being the highest):

1. How was your week?
2. Did you have any difficulties finishing the report?
3. What possibilities exist that we haven’t thought of yet?
4. What does it mean to be conscious of your words?

A powerful question:

• generates curiosity in the listener
• stimulates creativity
• motivates fresh thinking
• is thought-provoking
• generates energy and forward movement
• opens the door to change
• evokes more questions

The Construct of a Question

The linguistic construction of a question can make a critical difference in either opening our minds or narrowing the possibilities we can consider. Is it a yes/no question? Is it an either/or question? Does it begin with Who, What, or How?

Try It! Place these words in a pyramid of lower to higher power. Don’t think too much; use your intuition.

Who What

When Where

Why How

Which Yes/No Questions

More Powerful ------ Less Powerful

Reframing the Question

Example:

• Are you satisfied with our working relationship?
• When have you been most satisfied with our working relationship?
• What is it about our working relationship that you find most satisfying?
• Why might it be that that our working relationship has had its ups and downs?

Compare these questions. What type of response might you get?

What did we do wrong and who is responsible?

What can we learn from what’s happened and what possibilities do we now see?

Why did you do it that way?

I’m interested to know why you chose to do it in that way?

What is taking you so long to make a decision?

What missing information prevents you from making the decision?

Do you really think that is a good idea? (Or worse: That is a bad idea.)

What are some other options we can explore?

Examples of Powerful Questions

Exploration	Moving to Action
May we explore that some more? What other angles or ideas can you think of? What is just one more possibility? What are your other options?	What's your action plan or game plan? What needs to be done to change the situation? What will you have to do to get the job done? What support do you need to accomplish this? Where do you go from here?
Developing Options	Identifying Barriers
What are the possibilities you can create? If you had your choice, what would you do? What are the possible solutions or actions? What can you do to solve this? If you had it to do over, what would you do differently?	What seems to be the trouble? What seems to be the main obstacle? What is stopping you? What concerns you the most is …..? What is it you are resisting?

Reframing to Ask the Big Questions

1. Did you finish the report yet?
2. What did you accomplish this week?
3. What is your plan for next week?
4. How come there has been no progress on this item?
5. Why didn’t you follow my instructions?
6. Who approved this?
7. What have I done wrong?

Power Listening

4. Active Listening

Effective Listening Quiz

What do you know about effective listening? Take a few minutes and complete the following quiz.

1. A good listener does not have to concentrate on the speaker.
2. A good listener listens for facts, not ideas.
3. Listening means we really just need to sit there and passively listen.
4. People with hearing loss cannot be good listeners.
5. Most people listen well.
6. Good listeners know what a speaker is saying and can interrupt.
7. Effective listening is done with the whole body.
8. You can be an effective listener in any culture, provided you understand the language.

Did You Know?

• Most of us have not been taught to listen but we spend about half of our time listening.
• About 50% of misunderstandings occur because people do not listen effectively.
• Most of us believe that being heard is more important than hearing someone else.
• People believe that just because a person can hear, then he or she can also listen well.
• Many of us have never heard or understand there are different ways to listen.
• Eighty percent of interpersonal communication is non-verbal.

Question: What is the difference between a good listener and a poor listener?
How to Listen Well

Coaching is different type of conversation than what we have on a day-to-day basis. When coaching, you are listening intently to what the other person is saying and feeling. It is NOT a two-way conversation—the focus is all on the other person – it is NOT about you or your needs, wants, or feelings.

The Importance of Listening

How often do you really feel like you are being listened to? That people really get what you are saying and feeling? Most people do not feel like they are being heard. Therefore, in coaching, listening is the key. Just listen. That in itself is powerful.

Things to listen for:

• What they are saying
• What they are not saying
• How they are saying it
• What feelings and emotions are being expressed (or withheld)?
• Cause vs. Effect
• Blame
• What they are committed to
• What inspires, motivates, excites them

Coaching tip: the client does not always tell you everything that is happening. Listen for subtle changes in voice, avoidance of questions, anger or other strong emotions. Very gently ask more questions. Let the person know you are really listening.

SKILL EXPLANATION

1. Acknowledging Providing verbal or non-verbal awareness

i.e. eye contact, nodding, leaning in…

2. Restating, paraphrasing Verifying or summarizing a person's basic message

3. Reflecting Reflecting feelings, experiences, or content

that has been heard or perceived through cues

4. Interpreting Offering a tentative interpretation about the

other's feelings, desires, or meanings

5. Clarifying Questioning in a supportive way that requests more

information or that attempts to clear up confusions

6. Giving feedback Sharing perceptions of the other's ideas or feelings;

disclosing relevant personal information

7. Checking perceptions Finding out if interpretations and perceptions

are valid and accurate

8. Being quiet Giving the other time to think as well as to talk

Question: Which of these skills do you find yourself doing naturally now? In what situations do you find yourself doing them?

Re-Phrasing

Verify what you are hearing by repeating it back in your own words. This is a very powerful technique, as it really shows you are listening. It also helps them express their feelings, or become clearer about what they really do mean.

Paraphrasing, Restating, & Reflecting

• So, you mean…?
• So you are saying…?
• Are you saying that…?
• So what you're saying is that you...
• In other words, you feel that...
• Just so I understand you correctly, you are saying…
• What I am hearing you say is…
• It sounds like you mean…
• Let me see if I’m on track with you…
• What I’m picking up from you is…

Clarifying

• What do you mean by that?
• Can you say more about that?
• Can you elaborate on that for me?
• Help me understand…
• What I heard you say was…
• Tell me more.
• Have you thought about…?
• Is that how you really feel/think?

Active listening and questioning is neutral in that we are not adding information, but trying to understand it better. Just try to understand and see things through their eyes. Active listening is about clarification, so that we and the other person are very clear about what is going on.

Example: Regular listening

Bob: I don't like this company as much as I thought I would. It seems like people are always so busy and have no time to talk.


Para: Yes, I know. I’m always busy with my work too. Every is always stressed and working hard.

Bob: Yeah. I haven't made any good connections here. No one seems to speak to me much.

Para: Maybe you should try to talk to people more than. Don’t be so shy. That’s what I did when I started here. I would just talk to people.

Bob: Yeah. I wish people would be a little more friendlier.

Active Listening

Bob: I don't like this company as much as I thought I would. It seems like people are always so busy and have no time to talk. 


Para: It sounds like you are unhappy at this company? 


Bob: Yeah. I haven't made any good connections here. No one seems to speak to me much.

Para: You are feeling left out here, because people don’t talk with you? 


Bob: Yeah. I wish people would be a little more friendlier.

Your Turn!

To the speaker--Your task is to talk about what you want (some criteria) from an overseas holiday, but without mentioning a destination. Talk for 3-4 minutes.

To the listener--Your task is to seek to understand the speaker, both what is said and not said. Demonstrate active listening through eye contact and body language, and ask any clarification questions.

Wrap Up: After 3-4 minutes the listener has to summarize the 3 or 4 main criteria that he/she has heard the talker express and then make one recommendation of a suitable destination.

Perspective and Reframing

3. Shifting Perspectives

Overview On Perspective

Perspective is so fundamental to how we all experience life. Perspective is a point of view—it is “a way of looking at, or interpreting, a particular situation”.

The Secret of Life

Your perspective determines your experience in life, not your circumstances.

Coaching tip: Consider how powerful a coach is, who can change people’s lives and behaviors, not by changing their circumstances but by changing their perspectives.

Example:

Carla was jumping from rock to rock along the river. She was jumping very timidly, scared of falling into the water and getting wet. Suddenly she slipped and got soaked. Once again, jumping from rock to rock, she found that since she was wet already, she had nothing to fear. She started taking great leaps and having twice as much fun as before!

Question: What happened here?

Discussion:

1. When have you experienced a change in your perspective? What did it take for you to change your point of view?
2. How will helping your coworkers (or superiors, subordinates) make a difference in their work and life?

Reframing

What is re-framing?

To shift or change perspectives to help us deal better with the situation at hand and to aligned more closely with solution finding (problem solving).

Coaching tip: One of the most valuable contributions a coach can make is to help someone get clear on their current perspective and help them shift into a more empowering one.

Fear

Fear plays a large part in people’s minds. Fear about what other’s think, fear about being not heard or misunderstood, fear of not being respected, fear of not being in control or having power, fear of losing face or status, fear of…

Fear gives rise to disempowering perspectives, which create the victim mentality—that your life situation and experiences is beyond your influence.

Example:

Someone says, “I’ll never get that position.”

Coach asks about the fear:

• What makes you believe that?
• What kind of people would get that position?
• What would it take for you to be one of those people?
• What would it take for you to get that position?
• How does this belief serve you? What believe could serve you better?
• What would you like to have happen?
• What would it take to reach this objective?
• 
  
• 
  
• 
  

Coaching tip: The overall goal of a coaching relationship is for the employee being coached to achieve personal and professional growth; to be able to take their performance to the next level.

Disempowering Perspectives

Usually these points of view come from a perspective of judgment that leave someone feeling down, limited, or confused. The language of disempowerment sounds like:

Struggle: “It’s too hard.”

Invalidation: “I’m not good at that.”

Reaction: “How can that be!” “Oh, that’s terrible!”

Significance: “It doesn’t really matter.” “I don’t care anyway.”

Blaming/Victim: “It’s not my fault.”

Doubt: “It’s impossible.” “I don’t trust that guy at all.”

Criticism: “Their purchasing department is so disorganized.”

Protection: “I’m not responsible for that. It’s not my job.”

Question: What are some common disempowering perspectives you hear around your company?

Empowering Perspectives

These perspectives leave someone feeling worthy, active, and clear.

Respect “I appreciate what he is trying to do here.”

Responding “I wonder why that happened?”

Responsibility

Commitment

Trust

Action

Exploration

Challenge

Generosity

Contribution

Truth

Beliefs Expressed as Words

One of the first things to learn about coaching, is that it is all about how people see the world. It is all about perspective. And your perspective on life is a reflection of your deepest beliefs about yourself and the world around you. Your personal beliefs, and thus your perception, are given expression through the words you use.

The World’s Most Commonly Shared Belief:

I am a victim. Life happens to me. I am powerless to affect my life. Others are the cause of my problems.

Learn to listen for words—within yourself and with others—which signal the belief that we live at the mercy of what life throws at us.

• If only they were more...
• If only I had more...
• If only they listened....
• They don’t listen to me….
• She doesn’t understand me…
• He is not very…
• It’s not my fault…

Basic Premise Shift Needed:

I am now at Cause for all the effects in my life. I create my life. I create the exact level of my success at work and in life.

When our internal language shifts to the understanding that we create everything in our lives then we live our lives at cause:

• I choose to have ... in my life
• I choose to… communicate more effectively.
• I am not communicating in a way that is being heard.
• I am not leveraging his strengths and talents as well as I could.
• I feel that I have less control in this situation than I’d like to.

The Language of Coaching

2. The Language of Coaching

The Six Key Words of Coaching:

What? How? Why? When? Where? Which?

Coaches ask questions, questions, questions. Coaching is not about having all the answers, it is about asking the right questions.

More common words:

behavior(s)

request

explore

focus

uncover

elaborate

agreement

action

realistic

feedback

goal

challenge

thoughts

barriers

progress

purpose

effective

benefits

Here's an example of how a coach uses these words in sentences, combining them with "question" words:

Coachee: The person I supervise is driving me crazy.

Coach: What are the specific behaviors that bother you?

Coaching tip: Learn to question to get to the specifics of a statement. Don’t pretend to know what someone’s vague statement may mean.

Another example:

Coach: What's your vision of how the marketing program could work?

Coachee: I don't have a clue.

Coach: If you did have a clue, what would it be?

Coaching tip: This challenging coach uses language to access the coachee's capacity of the mind to go beyond its limited perceptions.

Another example:

Coach: When do you think you will complete the project?

Coachee: I'm sure I can complete the project in a month.

Coach: Can I give you my thoughts on that?

Coachee: Sure.

Coach: Well, from my experience I've never experienced anyone completing a project of this size in less than three months.

Coachee: Oh, really?

Coach: Yes. Can I make a request?

Coachee: Yes.

Coach: Why don’t we take a minute to explore the various aspects of the project and what they entail? Would you be open to that?

Coachee: Okay, sounds good.

Coaching tip: Learn to ask permission before giving thoughts, feedback, or suggestions. If people give permission first, they have bought into the process and are more likely to listen and to act.

Another example:

Coachee: I'm having difficulty with Sally's performance.

Coach: What specific behaviors (competencies) are you having difficulty with?

Coachee: Well, we've both agreed that her position calls for her to do five reports a week. She's barely doing three. And it's affecting the team.

Coach: Was there a time when she was meeting this competency?

Coachee: No.

Coach: Is she aware of the performance gap between what's expected and what she's producing?

Coachee: I don't know.

Coach: How long has this been going on?

Coachee: More than three months.

Coach: How come you haven't held her accountable for this earlier?