An Interview With Chad Silverstein
All professions begin as with general offerings. As the profession matures, things get more specialized.
The world of coaching is undergoing a seismic shift, with emerging trends set to redefine its boundaries and possibilities. From digital transformation and the integration of artificial intelligence to the growing emphasis on mental health and the global rise of coaching cultures within organizations, these developments are reshaping the landscape of personal and professional growth. As we navigate through these changes, understanding the forces that drive the future of coaching becomes paramount. I had the pleasure of interviewing Laurence J. Stybel.
Laurence J. Stybel, Ed.D. is a licensed psychologist, co-founder of two companies, executive-in-residence at a private equity firm, and a regular contributor on leadership for PSYCHOL9GY TODAY. Stybel Peabody Associates, Inc. works with companies to “pass the baton while reinforcing corporate culture.” Core services revolve around C-Suite Coaching, C-Suite Outplacement, and C-Suite retained search.
Thank you for joining us. To start, could you share your “origin story” with our readers? How did you begin your coaching journey, and what challenges did you face in the early days?
Stybel Peabody Associates, Inc. began in 1979 as an executive outplacement firm. We soon found that many CEO terminations are the result of the CEO’s failure to properly manage the Board of Directors. This was particularly true for CEO-Founders who had the backing of a founder-dominated Board and now report to a private equity-dominated Board.
We also found that many of the C-Suite folks we worked with were so functionally focused they lacked the appreciation for how a Board of Directors views the world.
Today our coaching has a clear Board-of-Directors twist. We reinforce this with a monthly program we run called “Seat at the Table” for Board members and the leaders we work with.
You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
Curiosity. I describe myself as “bright, impatient, and curious.” My professional service orientation is to be of value to “bright, impatient, and curious” corporate leaders. It is not hard to find “bright and impatient” leaders. But when you throw the word “curious” into the mix, the field narrows!!
Another important personality trait for me is that I am a counter-dependent personality. When I worked in a corporate environment and depended upon my boss to like me, I found myself very, very uncomfortable! When one company represented 30% of our total revenue, I found I could not sleep well. I never want any one company to represent more than 20% of our total revenue.
As a counter-dependent personality, my life motto is: “If you fire me as your coach, you will ruin my day. But I never want to be in a position where you could ruin my life!”
Can you share your favorite “Life Lesson Quote”? Why does that resonate with you so much?
Warren Buffet: “If you keep taking jobs that you don’t like because you think it will look good on your resume. Isn’t that a little like saving up for sex for your old age?”
What are some of the most interesting or exciting projects you are working on now? How do you think that might help people?
Talent Scout for a CEO: As the speed of a vehicle increases, driver’s peripheral vision decreases. As the speed of business increases, the CEO peripheral vision decreases. The CEO only has time to focus on customers, potential customers, and direct reports. We have had two company CEOs retain us to identify the talent they should be getting to know today for the future of the company.
I am working with a founder who began a company as a lifestyle business. He expected his son to take over the business. The son does not wish to be part of the industry.
Now the founder wants to grow his business to sell it. And that involves (1) hiring a CEO who knows how to grow a business in his industry (2) learning how to keep “nose in/fingers out” as Chair of the Board. We have done the retained search and now we are working with the founder to help him learn how to be Chair.
Without saying any names could you share a particularly memorable success story from your coaching career?
Years ago, a law firm forced one of its partners to leave because he wasn’t generating revenue. The firm retained us to help him manage his career.
At first the partner desired to get hired by another firm but nobody wanted him: he has no clients to bring with him.
When I said, “Let me help you start your own practice,” he responded with, “I’d rather die first.”
As his failure to get employed increased, he became more depressed. One day he told me he was thinking about driving his car up a mountain and then driving the car off the mountain. “At least my wife and son will be able to live off my insurance.”
As a licensed psychologist, I am required to hospitalize a patient if the patient expresses suicidal ideation and I believe could follow up with action. I am required to inform the spouse. I could lose my license and be sued by the widow if I fail to do this. But if I do this, I will lose the partner as a client.
I decided to respond as a business professional: “You are assuming that when you drive the car off the mountain you will die. But you could end up surviving with head injuries and your wife will have to take care of an incapacitated patient. Why not let me help you set up your solo practice? Give it two years. And then if it doesn’t work out, you can kill yourself.”
The partner smiled and said, “I’ve always been conservative in approach. This is the most conservative thing I could do. OK!”
As a psychologist, I gave him tests of career interests/abilities. I said his profile was like a “little old lady.” He smiled and said, “Exactly. My mother was in her 40s when I was born. I am an only child. I’m used to being in the company of older people and I enjoy being with them.”
I responded, “Your legal area if estate planning & probate.” Most lawyers in this field are the same as tax attorneys: they get into the field because they like to solve complex legal problems. The little old ladies are a nuisance when they are alive. They only become interesting to these attorneys once they die. You, on the other hand, actually love being with them when they are alive. Let’s design a marketing campaign around that!”
Our campaign consisted of a talk on changes in the estate law and the talk was given at local libraries located in wealthy zip codes. Soon, he started getting clients.
Three years later, the partner called me and said that a mid size firm was offering him a lateral partnership. Is he interested? The partner asked what I thought. I responded, “It doesn’t matter what I think. What do YOU think about it?”
He said, “Why would I give up my independence? I love my life!”
Here is the lesson learned: if you are in the professional service business and are serving people you love to be with and are getting paid, that is called “fun.” If you are serving people you do not like to be with and you are getting paid that is called “work.” If you are serving people you love to be with and are not getting paid, that is called “give-back.” If you are serving people you do not like to be with and are not getting paid, that is called “insanity.”
Your clients know when you are having fun and when you are working.
Your goal should be to stop working and have more fun.
This simple framework is complex to implement because many professional service providers focus on the substantive service they provide (coach, estate planning) and not the people they serve (bright, impatient, and curious).
Ok, thank you for that. Let’s now jump to the primary focus of our interview about coaching. How has your approach to coaching evolved over the years, and what personal learnings have you applied to your own development?
I don’t use the word “coach.” I use a general value proposition that the listener either is curious about or not: “I help pass that baton while reinforcing corporate culture.” Again, I like to work with bright, impatient, and curious people. The person I want to work with will ask follow-up questions. The statement also is more focused on corporate values than simply saying, “Leadership coach.”
How do you incorporate feedback into your coaching practice to continuously improve?
Below is a section we include in ALL coaching proposals:
MANAGING RISKS
There are things in life that one cannot explain or read about. One must experience it. Examples would be being a parent….and coaching.
Once experienced, there are good people who may find our approach to coaching is not of value.
Thirty days after we begin the intervention, J. will know.
At the thirty-day mark, we ask J. if he wishes to continue. If he says “no,” we will only charge you for the time we have spent and refund the remaining money.
Can you discuss an innovation in coaching that you believe is currently underappreciated but has the potential to significantly impact the field?
I find the research in cognitive behavior therapy of great value in my work with business clients. I’ve written extensively about this in PSYCHOLOGY TODAY. One of the most important ideas is the tendency of people to frame issues from a binary perspective. “I’d rather die” than start my practice. In my work, I try to be a role model for using an ordinal frame to discuss problems, “On a scale of 0–10, I am at a 2 when I think about setting up my practice.”
Instead of “what will it take to get you to “like” starting a practice,” I can now say, “Can I suggest some interviews with solo practitioners? I’ll give you some questions to ask. I’ll make some introductions. Maybe the interviews will move the needed from 2–3 or from 2–1.”
How do you foresee artificial intelligence and machine learning transforming the coaching industry in the next decade?
Of course it will but it is too early in the game to make predictions.
Could you list and briefly explain “Top 5 Trends Shaping the Future of Coaching” based on your experiences and insights?
All professions begin as with general offerings. As the profession matures, things get more specialized.
Thus, medicine began with surgeons and physicians. Today, someone will not say, “I am a physician.” The person will say, “I am a pediatrician specializing in liver cancer.”
In a similar vein, coaching began with two themes: I am a leadership coach or I am a work-life balance coach.
As the profession matures, it will become far more specialized: I work with C-Suite business leaders where managing a Board of Directors or serving on a Board of Directors is important.
I see today’s coaching industry as separate and distinct from the field of compensation. In my view, you cannot discuss behavioral change within corporate settings and not also discuss the current reward systems. Will they support the behavioral change or work against it.
This is an underappreciated area within the coaching profession. And the lack of appreciation for reward systems reduces the positive impact of coaching.
How can our readers continue to follow your work?
Our PSYCHOLOGY TODAY articles:
https://www.psychologytoday.com/us/blog/platform-success
Our company website:
Thank you for offering such valuable insights into the future of coaching. We look forward to seeing your work continue to reach new heights, and we wish you continued success.
About the Interviewer: Chad Silverstein, a seasoned entrepreneur with over two decades of experience as the Founder and CEO of multiple companies. He launched Choice Recovery, Inc., a healthcare collection agency, while going to The Ohio State University, His team earned national recognition, twice being ranked as the #1 business to work for in Central Ohio. In 2018, Chad launched [re]start, a career development platform connecting thousands of individuals in collections with meaningful employment opportunities, He sold Choice Recovery on his 25th anniversary and in 2023, sold the majority interest in [re]start so he can focus his transition to Built to Lead as an Executive Leadership Coach. Learn more at www.chadsilverstein.com
Laurence J Stybel Of Stybel Peabody & Associates On The Top 5 Trends Shaping the Future of Coaching was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.