Thinking about a liquidity event? Click here to book your FREE strategy call.
Jan. 22, 2024

Major General Scott Clancy On How To Welcome Success Through Leadership Coaching (#301)

Major General Scott Clancy On How To Welcome Success Through Leadership Coaching (#301)

“Create space between your emotions and reactions for better choices.” - Scott Clancy

In this episode of the Deep Wealth Podcast, host Jeffrey Feldberg welcomes Major General Scott Clancy, an experienced leader who served for 37 years in the Royal Canadian Air Force. Clancy shares insights on leadership, team development, and the significance of cultivating emotional trust. He recounts his progression from being a tactical helicopter pilot to holding high-ranking positions in the Alaskan NORAD Region and in Colorado Springs. Clancy emphasizes the importance of nurturing an empowering culture in an organization. He shares his five strategies to ignite creativity in a team and highlights the importance of personal connection, listening with understanding, collaboration, delegating responsibility, and maintaining non-agenda updates. Governance and leadership shaped by empathy, service, and elevating relationships above transactional engagements are the driving factors of successful organizations, Clancy suggests.


02:07 The Role of Leadership in Business

02:42 Scott Clancy's Journey in the Royal Canadian Air Force

04:24 Transition from Military to Business Leadership

04:37 Addressing Employee Loyalty and Retention

06:12 The Intersection of Leadership and Coaching

06:36 Building Trust in Military and Business Leadership

08:31 The Difference Between a Leader and a Manager

18:39 The Importance of Connecting with Team Members

21:35 Six Steps to Engagement and Alignment with the Mission

23:10 Developing a Common Narrative

23:26 Deploying Helicopters in Afghanistan: A Case Study

24:33 The Power of Narrative in Business

25:16 Understanding Leadership Styles

25:49 Challenging Traditional Leadership Approaches

26:54 The Importance of Purpose in Business

30:28 Igniting Team Creativity: Strategies for Success

34:36 The Role of Leadership in Employee Retention

38:40 Reflections on Personal Leadership Journey

40:22 Testimonials for the Deep Wealth Experience

Click here to subscribe to The Deep Wealth Podcast to save time and effort.

SELECTED LINKS FOR THIS EPISODE

Scott Clancy

Scott Clancy - YouTube

Resources To Have You Thrive And Prosper
The Deep Wealth Podcast helps you extract your business and personal deep wealth. You'll learn and master the foundational strategies in the Deep Wealth 9-step Roadmap. These are the same strategies that our co-founder, Jeffrey Feldberg, leveraged for his 9-figure exit.

Enroll in the 90-day Deep Wealth Mastery program to grow profits, increase the value of your business, and optimize your post-exit life. Send an e-mail to insights{at}deepwealth.com with the words "Deep Wealth" in the subject line for more information.

Click the link below to access the resources, gear, and books that either our guests or the Deep Wealth team leverage to increase success:

https://www.deepwealth.com/thrive

Contact Deep Wealth:

Help us pay it forward by leaving a review.

May you continue to thrive and prosper while remaining healthy ...

Hey there, did you enjoy the latest episodes of The Deep Wealth Podcast? I have a small favor to ask, and it could mean big things for you. 

Subscribe to The Deep Wealth Podcast and join us in changing the game for business owners like yourself. Subscribe now on your favorite podcast platform. By subscribing, you'll be ahead of the curve with insights from industry leaders, innovators, and disruptors shaping the business world. Whether you're commuting, at the gym, or unwinding, the Deep Wealth Podcast is your source for the next big idea that could take your business and health to new heights. Click on that subscribe button, stay inspired, and step into the future with us.

Also, have you considered leaving a review for The Deep Wealth Podcast? Your feedback fuels us to bring you top-notch guests and world-class content. Your insights are invaluable to us.

The Deep Wealth Podcast is proudly presented by our flagship 90-day Deep Wealth Mastery program.

Avoid the fatal mistake of assuming the skills that built your business are the same for your liquidity event. Up to 90% of liquidity events fail. Even worse, "successful" liquidity evens have business owners losing out on 50 to over 100% of the deal value. 

Why take that risk? 

Deep Wealth Mastery is here to boost your profits, enhance your business value, and arm you with strategies that guided our founders towards a 9-figure deal. From startup entrepreneurs to those edging towards billion-dollar revenue marks, our system is delivering real results.

Deep Wealth Mastery is a game-changer and the only program designed from our founders' 9-figure deal. 

Our graduates have had nothing but praise:

"I wish I had access to Deep Wealth Mastery before my liquidity event as it would have been extremely helpful. Deep Wealth Mastery exceeded my expectations in terms of content and quality," shared Stacey C.

"The investment I made in the Deep Wealth program pales in comparison to the value I've created and will receive in the future," said Sanjay S.

"A company that is attractive to sell is also a great one to own. The Deep Wealth Mastery program gives me the best of all worlds," voiced William S.

Subscribe to The Deep Wealth Podcast now and weigh in with your review. 

If you're ready to ignite your success journey with Deep Wealth Mastery, click here to email us to take the next step in securing your future.

Transcript

301 Scott Clancy NEW

Jeffrey Feldberg: [00:00:00] Welcome to the Deep Wealth Podcast where you learn how to extract your business and personal Deep Wealth. 

I'm your host Jeffrey Feldberg. 

This podcast is brought to you by Deep Wealth and the 90-day Deep Wealth Experience. 

When it comes to your business deep wealth, your exit or liquidity event is the most important financial decision of your life. 

But unfortunately, up to 90% of liquidity events fail. Think about all that time and your hard earned money wasted. 

Of the quote unquote "successful" liquidity events, most business owners leave 50% to over 100% of the deal value in the buyer's pocket and don't even know it. 

I should know. I said "no" to a seven-figure offer. And "yes" to mastering the art and the science of a liquidity event. [00:01:00] Two years later, I said "yes" to a different buyer with a nine figure deal. 

Are you thinking about an exit or liquidity event? 

Don't become a statistic and make the fatal mistake of believing the skills that built your business are the same ones to sell it. 

After all, how can you master something you've never done before? 

Let the 90-day Deep Wealth Experience and the 9-step roadmap of preparation help you capture the best deal instead of any deal. 

At the end of this episode, take a moment and hear from business owners like you, who went through the Deep Wealth Experience. 

Major General Scott Clancy, served as a tactical helicopter pilot in the Canadian Armed Forces. He taught tactics at the Army Staff College and planned operations at all Royal Canadian Air Force levels. Before retiring after a 37 year career, he served as the deputy commander of the Alaskan NORAD Region and finally as the Director of Operations for all NORAD in Colorado [00:02:00] Springs. 

Welcome to the Deep Wealth Podcast. And you heard it in the official introduction. We have a terrific guest lined up for you today. And I have a rhetorical question for you as a business owner, as a founder, as a mover and shaker, as I like to say, show me your team and I'll tell you your future. So how's the leadership in your company?

How are you as a leader? What are you doing with that? Would you like to take that to the next level? You know me, I love my rhetorical questions. And of course you said, yes. So with that in mind, I'm going to put a plug in it right there. Scott, welcome to the Deep Wealth Podcast. I am really excited to have you on today.

And Scott, there is always a story behind the story. I'm curious, Scott, what's your story what got you from where you were to where you are today?

Scott Clancy: thanks very much for having me, Jeffrey. I've been looking forward to this for a little bit. Yeah, no, so I served 37 years in the Royal Canadian Air Force. wanted to join ever since I was a little kid and, was a helicopter pilot. As my basic training, that's the, the core skill that I developed, but I was an officer.

So I [00:03:00] was a leader and throughout my 37 years, led all sorts of teams. I spent better part of the last decade in the North American Aerospace Defense Command leading the binational. Team, alongside of our American brethren the allied positions, whether it's up in Alaska or down in Colorado.

And at the same time I was coaching my kids in basketball. A lot of us get into coaching because we love our kids, want to be that parent coach. And then I started, cause I played college basketball. I coached them all the way up and then I started coaching elite teams and all the way up to university level with the Royal Military College.

And once I left the military. wanted to retire, spend more time with my family, that kind of stuff. But at the same time, this idea about writing a book kind of got into the back of my head because I saw this, the confluence, the, the intersection of coaching and leading between that coaching sports thing and the leading stuff.

And so I wrote this book, Developing Coaching Leaders, and that's kind of what's brought me to this point is being a thought leader and [00:04:00] being able to bring these two worlds of leadership and coaching together.

Jeffrey Feldberg: Absolutely love that. And Scott, before we get going, as I really, on behalf of the community, really want to thank you for your service. Not easy, but because you do what you do, we get to do what we do and thank you so much for your sacrifice, your time, and the effort that went into that. And I'm wondering though, when you reflect back on.

Life in the services and a life in the business world on the one hand is very different. On the other hand, I suspect is very similar. What are some of the similarities that you're taking from the services and you're bringing into the business world that perhaps we need more of?

Scott Clancy: I think that one of the core things that both our militaries are dealing with right now and our business communities Is this employee or member loyalty, where you see people that are just, they want to move on to the next thing. What's the next move that I can make in my development, on my journey, on my path?

And you don't see the [00:05:00] longevity, nobody's serving with the same companies or even in our militaries for 30, 40 years. They want to know what's the next thing that's servicing them. And I think there's not new. Solutions to this. I actually think there's a lot of old solutions to this. That's why, fundamentals, I'm a basketball coach.

So, fundamentals are important. I think a return back to fundamentals is important. So when I think about employee loyalty, I think about how we've developed. Our employees, are we just focusing on the performance or are we elevating the relationship that we have with our employees above that transactional performance based stuff to one where we're actually leading them through their development?

And by doing that deep trust you have, I say that leadership and coaching are emotional. Trust, relationships. if you think about these things as relationships, I think that what the military and my experience in leading in the military and in coaching and around business has to bring [00:06:00] together is to try to develop those skills where you can develop your people within your organizations, develop their leadership.

Because it's not just about your leadership as you're leading an organization, it's about how you develop those other leaders. By doing that's where I think that there's a crossover to the business world.

Jeffrey Feldberg: And in your book, and let's talk about this for a moment because it's so important, and by the way, for our listeners in the show notes, we'll have a link to the book, Developing Coaching Leaders, The Fundamentals and Techniques that Make Leaders Extraordinary. Absolutely love that by the way, Scott, in terms of how you're positioning that.

Let's learn from the military though, because when you think about it in the military, regardless of where you are in the services. You're building that trust because people are putting their lives on the line with the service that they're in, with their peers that are with them. That's a big ask and yet it's done on a regular basis.

So what are the services, the military, what's happening there that as business leaders, we can learn from with that emotional trust that you're talking about?

Scott Clancy: Yeah. That's a great question. would say [00:07:00] that there's an absolute similarity between the fact that people will follow you just so far as a military leader, especially in combat, as compared to business. In business, people will only follow you until it's not in their best interest, and then they're gone.

And in the military, it's the same thing. You can try to use your rank, your authority, all the rest of those things, but when their lives are on the line. It's your influence as a leader, their belief in you, their trust in you and their belief and trust in the mission. Those are the things that are going to take them over the line.

So in business, when you think about what the purpose of your business is, you're going to have to align that purpose with individual purpose for the people, the employees that you're leading. And if you can align those things and. They can trust you that you're going to develop them and you have their best interests at heart.

And then those are the things that are going to translate well. So to me, I think these are the same things. And I think that the militaries that are dealing with retention issues, real retention issues, especially [00:08:00] here in Canada, we have some real significant recruiting and retention problems.

On, years of backlogs, the same thing is starting to manifest in the United States.

These are identical to the business problems that I hear from business leaders that are saying, there's not enough qualified people. great resignation is as much about finding a tempo of life that is more serving the people than it is serving the organizations, and these are all the same related symptoms of the same problem.

Jeffrey Feldberg: And what I loved in the book, you make a very clear distinction with a leader. And Scott, I have to share with you a pet peeve of mine. People interchangeably use leader and manager. And to me, they couldn't be more different. And for our listeners right now, you can't see this, but Scott and I, we're seeing each other.

And as soon as I said that Scott was like, whoa, he's. Back and the body language is yeah, yeah, I'm with you on that, Jeffrey, because you say something interesting in the book. You're saying, and you can tell me if I'm on base or off base with this, but I'm quoting, a leader is anyone who is attempting to move a team toward a goal.

I love [00:09:00] that definition. Can you expand upon that for us? Because it really applies not just to the military, the services, to business, really any area where you're in a leadership position. So. Give us some of your insights, the story behind the story on that one, Scott.

Scott Clancy: two things, through my body language that I, I agree that there's a division and a distinction between merely supervising or managing and that managing function, which I would say is a tool of leading leading. And I like the phrase, anyone can lead.

And I used to use this when I was coaching basketball with, young fellers that well, they're young when they're, 11, 12, 13, but when they're, you know, 18, 19, 21, and they're six foot seven, it doesn't seem to be talking about them as kids. But the idea here is that anyone can lead at any moment.

You might have a team. You might be the manager or supervisor, but in that moment, the one that's really stepping up and leading that team is someone from within. So that's why I say that anyone can be leading in any moment, moving that team [00:10:00] towards a goal. I like the idea of saying that, you have also have to lead yourself.

You have to be in that mindset. And then you as a leader need to understand that you're always a member of a larger team. Almost everyone, even if you're a CEO, you're the member of a larger community. You're the, whether it's a community of like minded businesses or, a town area or whatever it is, you're always a member of a team as well.

So to me, that's why I like that definition of leadership. Anyone moving towards a goal, manager or supervisor, those are more functions. Those are more skill sets and things that you have to be able to do to effectively lead.

Jeffrey Feldberg: And, as you're talking about this, what you're reminding me of, Scott, of what you've learned, what you put into practice yourself, and I'm sure it wasn't a bed of roses for you. You learned along the way that, hey, nobody's perfect. And at the same time, though. We, through you, and you through the services of the military, have the benefit of, I mean, I can't imagine how many [00:11:00] billions, dare I say, trillions of dollars that the militaries around the world have put into this area of leadership.

How do we get the most out of our people? How do we get them to really put their lives on the line when it counts and when we need them to? How do we build, as you're saying, that, that emotional trust? Can you give us. Perhaps a bit of background of what's going on in the military in terms of the research that they're doing and how they're taking that and applying it and some of your takeaways being in that system when you were there and what you learned from that.

Scott Clancy: you're absolutely right, most militaries spend a significant amount of time focusing on leadership, different militaries, different orientations with respect to what it takes to lead people. Colin Powell's very famously said, and very emphatically that trust was the number one trader characteristic that needed to be developed in leaders in order to be effective leaders.

Most Western militaries are using a values based leadership model that leaders have to display and be trusted with the [00:12:00] values of the organization, as well as the competence to be able to lead, manage, as well their teams to success.

You see this everywhere, Charles Feltman, who's my favorite author on trust, wrote the thin book of trust.

And I like thin books because they're easy to read, right? Ones with pictures are even

Jeffrey Feldberg: Yes.

Scott Clancy: Charles Feltman he divided out trust into four competencies, care, reliability, sincerity, and competence. And a lot of people will misjudge and think that, well, if I trust you, I trust that you can do the job.

think that's only one. Part of being able to do it, but I don't think you can divide those things out. Yeah. You have to be competent to be able to affect that, but you also have to care for the people that are around you, care for the mission, be reliable and sincere in what you're doing.

These elements of trust, these are core values that you'll see in almost all militaries. Now, the problem that I saw and, we can laud a lot of benefits on the militaries, whether it's American, Canadian or whomever. One of the things that I think that a lot of people need to [00:13:00] know why military leaders end up, a lot of them being so.

Good leaders or great leaders is that they're put in these leadership positions from a very young age and they learn a lot through trial and error and mentorship, where there's someone above them that's saying, that's not right, here's an example, lead by example, here's the example I'm showing you.

But a lot of this is mistakes that are made along the way. I know I made my share of mistakes. What I have found in my 37 years in the military, however, is I don't think we're doing as great a job as everybody thinks we could do with respect to deliberately preparing leaders as opposed to just throwing them into positions.

Jeffrey Feldberg: Mhm. 

Scott Clancy: like a business leaders, I read a lot about business leaders that the first time that they were put in a management or supervisory position. Ergo, a leadership position, they were given no training, no experience, they were just told to do that on top of their already crushing workload, you know, just sort it out.

And that trial and error methodology, that [00:14:00] can get you some success, but it's got a lot of problems, especially for the other people in the team. So I, I think that this is where I was, that's why I wanted to write the book is I saw a lot of leaders. Especially even in the military, a lot of my professional development courses started with, we know you all know how to lead.

Do you? Really? I thought that's what I was here for. I thought you were going to teach me something. And then they go on to other managerial or strategic thinking kind of professional development. And you're going, wait a minute, I think we should get back to the basic roots of leadership here a little bit.

And that's another reason why I wrote this book.

Jeffrey Feldberg: And I love that and actually you're reading my mind in terms of what I wanted to speak with you about today because I would love to hear what was it that had you say, you know what, I'm seeing something that clearly isn't right for me or doesn't feel right or things aren't working out that well or there's an issue here.

Let me try and fix that. And in your case, it was, let me put together a book that can help people make a difference [00:15:00] out there. So Scott, what was it that really spurred you into action to write a book? Because let's face it, writing a book is not an easy thing to do. It's challenging. You're putting yourself out there.

It's a whole new area for you in terms of what you were doing, a whole new skillset that you mastered. So what was it that got you into action? Say, yes, I'm going to make a difference out there. I'm going to address this issue. I'm going to be a voice out there to solve this problem. What's going on with that?

Scott Clancy: Thank you very much for that. I mean, I'm really proud of being able to have written the book. Having the support of my lovely wife, Val that's probably one of the great reasons of me being able to do that as well. I also, just retired from the military. So there was space there.

Whenever you make a transition, there's a loss of seamlessly. Not taking a little bit of time to, to reflect on that and being self aware about that. And my last, five or 10 years in the military, I'd spent a lot more time, pondering on the bigger things about self awareness, about, the different styles of leadership, the rest of those things, and doing a lot of and meditation and [00:16:00] thinking on this.

So that when I left the service, all of these things started to come together. But I also had this, where we go back to leading and coaching the Veterans Affairs Canada organization assigned me a transition coach and this coach, like all great coaches coached me in by holding a mirror up to those things that I wanted to do in retirement and working for a big company and consulting and, talking about the defense of North America and all those, things that wasn't really something that.

Was appealing to me. That's kind of why I left the military was I was kind of done with that. And I'd had, enough and it was, a stressful thing, but I also wanted to give back, my lifelong thing had always been a sense of service and, service before self, which is one of the fundamental values of the Canadian Armed Forces and most militaries.

To me, I always wanted to be of service and give back to a nation, community leaders and people That have been so good to me, and the nation of Canada, and the United States had been so good to me.

Jeffrey Feldberg: Huh,

Scott Clancy: So those are the kind of [00:17:00] reasons that led me reading the book, and I definitely had something to say.

Jeffrey Feldberg: Absolutely. Love that. Love that passion. I mean, after all, whether it's a book, whether it's a business as an entrepreneur, as business owners, which we all are here, you and I, and in the community, for me, really an entrepreneur, the very foundation of being an entrepreneur, a business owner, let's find a painful problem that people are going through.

Let's solve it for them. Let's make the world a better place through our insights and through our actions. And so from the services now to the corporate world, Scott, I'm wondering as you're out there and you're speaking with different business leaders and organizations, is it the Pareto's law? Is it the 80 20 rule where 80 percent of the issues and the challenges that you're hearing about from these organizations are coming from the same 20 percent of the root causes?

Are there any commonalities out there that you can share with us?

Scott Clancy: Yeah, sure, I think that, yes, my 80 20 rule is always 80 percent of the work's being done by 20 percent of the people, but I get what you're saying about the 80 20 rule. I think it's true. I think that there are [00:18:00] some root causes here that really... Organizations, whether we're dealing with large organizations, that have thousands of people in them even small businesses.

I go back to, when I speak to those people on the bottom ends of those pyramids. They feel disconnected from where the organization or business is going. And that disconnection, that breeds distrust. And now they're looking for, what's in it for them. So the first thing that keep on going back.

Two is this emotional trust relationship. So if it's a relationship as leaders, first thing we have to do is establish a connection. And I tell, leaders, whether it's executive or middle managers or brand new leaders, connect two ways. You want to connect with the people in your organization, the people on your team.

So if you're leading a team of 20, then you need to have an individual connection and relationship with each one of those 20 people on that team. And that's going to take time and you have to develop a plan [00:19:00] to be able to do that. And the second thing you need to do is you need to connect them with the mission of, or goals, the objectives of the organization. Now that connection, that second connection, people are not just going to say, Oh, great. I'm an accountant. I fill out these spreadsheets and you want me to connect with the spreadsheet. I'm done with you. Like, I mean, that's a hard sell to be able to make. Like I'll do my job, you'll pay me, but it's very transactional. What I'm trying to say is, where we're going here with this. You know, If the employee's name is, I don't know Mary I know we're, we have to get our reports in. We have to do these things, but this is why it's important. This is where the organization is going. Now for you, you're a brand new CPA.

This is how I see the evolution of progression. So, and we're going to come back and visit this because I see you replacing me. What I'm doing there is I'm not talking about the transactional elements of this individual's performance. I'm connecting them to where the organization's going, but from a developmental point of view, this is how you're going to develop inside of this [00:20:00] organization carrying forward.

What you're demonstrating there, this isn't a show, this is what you're doing, what you're doing is you're showing. Care for the individual. You're showing value added because you're, showing them how they fit into the larger COGS organization. It's going to enable their performance, but it's also going to enable them to go, Oh yes, I do want to develop that way, but I need this course might need this time off or whatever it is.

And the conversation that happens from there is going to assist in that first connection because you've established a personal connection with that individual. It's about their development and their growth. The more that you carry that on, whether it's in business or whether it's in, sports, personal lives, that is elevating that relationship above that transactional element.

Jeffrey Feldberg: And so Scott, what you've shared, you're really helping me connect the dots because you're taking what some people would say common sense, but you know what? It's not so common. So tell me if I'm on base or off base. What I'm hearing from you is to really leverage the full potential of an individual and a team, it's really two things.

[00:21:00] Number one, get that emotional trust between you and that individual and you and individually, the team members, the individuals who comprise that team. But that emotional trust, what I'm hearing you say in and of itself is not enough. While you have that to really get the mission done, you have to make sure that they really understand the big picture of vision and the objectives of the company itself, of why we're doing what we're doing, where we're heading and why that's important.

How am I doing with that? Mm hmm,

Scott Clancy: think that's absolutely online, Jeffrey, and aligning members of your team is going to create their engagement. That engagement is going to help you resolve employee loyalty or at least retention issues, provide more longevity. I always say that you want to be spending up at least 20 percent of your time mentoring and coaching the people that are on your teams to replace you.

And the ultimate idea here is you want them to be able to lead. So, I have a six step rule with respect to this engagement and [00:22:00] alignment with the mission. The first one is you need to be value added as a leader so that people, they need to see you on your team being value added, whether that's providing the right guidance towards those objectives, whether that's assisting them with development, whether that's putting the pieces together or whatever it is to enable the team.

You have to connect personally. talked about that. And you use your understanding of the individual and the team, that connection that we talked about, to be able to translate those goals for the individuals. So that's number three. Then the number four here is you have to listen to understand. Like really, a lot of people will listen just so that they can hear the, whatever it is, the feedback, but listening to understand is something completely different.

Not so that you can make a response, not so that you can figure out what you have to do next. It's listening to understand so that you're there with the people and their goals. And that might cause you to adjust your goals, adjust how they are really, adjust their specific performance pieces. And then when you're elevating [00:23:00] that relationship, because that's the next step, you're going to elevate that relationship above.

So even though you might have those goals, you might put them off in terms of time and space so that you can give the space for the development of those people. And the last thing is develop a common narrative. Including some vocabulary, narratives I think are important. The stories we tell are as important as having these great vision statements to connect with those things.

So, for example, I was charged with preparing our helicopter forces for Afghanistan back in 2008 for, trying to get the soldiers that were driving on the roads, off the roads, so we could deploy Canadian helicopters and save some lives. Deploying those Chinook helicopters for the first time into Afghanistan was a pretty daunting task.

I didn't have all the answers, but, the leaders at the time, let's, develop some key narratives to assign. There's these big strategic level things that the government of Canada wanted to achieve. But my commander at the time just said, get them off the roads. [00:24:00] Save lives. So to us, that became, the fusion.

How are we going to do this quicker? When I was commanding an air wing for the Royal Canadian Air Force, had three words that I'd use all the time. It was fly, shoot, spend.

Flying because flying competence is what's going to create real capability in the aircraft. Shoot because you have to be tactically lethal on the battle space to be able to defend the nation.

But spend because I didn't want the bureaucratic or... administrative limitations of the government to get in the way of my people accomplishing their mission. I could translate those words and that vocabulary, that narrative to the people on the ground.

Jeffrey Feldberg: What terrific insights that you're sharing out there, my goodness, Scott, so much of what you're sharing is right out of our playbook in terms of, okay, how do I grow my business? Well, the narrative, whether it's winning new clients, whether it's having an investor come in or a buyer come in, in those instances.

Believe it or not, and you better believe it, 80 percent of a company's value starts with the narrative. I've had valuators come on the podcast, Scott, and they say, Jeffrey, I don't even look at the financial [00:25:00] statements until I hear that narrative. And if the narrative is a good one, 80 percent of my value is going to come from there.

And yeah, sure. The audited statements, the financials, all those complicated forms. Yeah, I'll take a look at that, but that's really, relatively speaking, a small percentage of what's going into the value of the company. So you're spot on with that. And for our listeners, as you're hearing Scott share really these six rules that he has, does he come across as someone who's saying, hey, well, Jeffrey, I'm the CEO, I'm the president, you're going to respect me just because of my title, or is he coming across as, hey, let me understand what's going on with Jeffrey.

Let me get into his head. Let me see the world from his vantage point and I'm going to work with him. I'm going to be his biggest raving fan. I'm going to cheer him on. Yes, I'll have to step in when I have to step in, but I'm going to really coach him, hence your book, Scott, of what you're doing and your principles there.

But what a difference. And so for the listeners, and there's no judgment here with them, Scott, for that listener who's saying, well, wait a minute, I'm the owner of the company. I've earned my stripes and anyone that I bring into my company, they should be [00:26:00] grateful and thankful to me. And if I say jump, they should be saying how high, forget all that other stuff because I'm signing their paycheck and they have their job and livelihood because of me.

What would you say to that kind of thinking?

Scott Clancy: I'd say what I would say to any other leader that's having that Rather dogmatic approach to leading is that you're using your positional authority and your, the transactional elements of that cost benefit analysis. I'm paying you and I want to service and what you're going to get out of your employees and your organization are exactly what you put in.

You're not going to get anything more. They're not going to go to the 10th degree for you, unless they think it's in their own better interest. Therefore, at one point in time in the future, all of this is going to unravel when you try to ask for something beyond which is just outlined in that baseline transactional narrative.

To me, that's just why a lot of, I find a lot of businesses are looking for purpose beyond the [00:27:00] bottom line. I want to be a member of Walmart because of the way that it services our communities in times of emergencies or philanthropy, whatever it is we're going to be a green business.

Whatever the value basis of these businesses, I think that you're finding business is, especially in the modern era, needs to have values that are beyond merely the bottom line. From a defense of the nation point of view, that translates the exact same way. At one point in time, you're here to defend the nation.

So, I'm going to order you away from your family for the fourth weekend in a row. At one point in time, this is going to fall on lame ears when it's the exact same reason that you're coming back to again and again and again. Wait a minute. It's not going to translate well. And that's why I think that for leaders that's in that position, I think that if they took.

A step back and became a little bit more self aware

about where the people at the bottom end of that chain are that by developing them by saying, Hey, I've got an opportunity. I think I've really got a great [00:28:00] business here. I want people to learn from me how many excellent CEOs. Would that one CEO produce?

think of what an excellent organization is. this is where, I use this with my military compatriots who are struggling with retention and they say, Oh, I don't want people to leave your organization. I said, Hey, people leaving your organization, that's normal. They're going to leave.

That's a fact. How do you want them to leave? Well, here's what you want, and I'm going to give you an image. Imagine if you were sitting down with a person who, left or was in this organization, this business for 10 years, and someone was saying, Oh, I'm thinking about taking a job with them.

What do you think? You have to go work there. gave me more opportunity than I ever had before. I learned so much they actually said there's no room for growth here. And then they gave me the connections to move on. Wow. And I learned so much from that CEO. Like he spends the time.

Okay, that's an organization that everybody wants to be a part of. You're going to attract the best people. You're going to [00:29:00] want people to be working with you. So these are the kinds of things, if you focus on that development, on the development of those people, on the people that are working for you, that team will resonate clearly beyond just the individual business.

Jeffrey Feldberg: And Scott, what you're sharing with us is so spot on. Recently, there is a Glassdoor survey. In Glassdoor, that's the site where employees go and they rank their companies or their former companies and it's very candid feedback. And they ran the survey and what they wanted to find out, what is either keeping you in the company or having you go to another company?

And they gave a number of choices for people to choose from. Most people, when you ask them, what do you think the number one factor was? I'll say, oh, clearly Jeffrey, money. Money is what keeps someone out of company. Money is what has someone go to a new company. Money was near the bottom of the list. At the top of the list, it was what's the leadership like?

What's their vision? What am I going to learn there as an individual? What's the company culture like? And really with our own [00:30:00] experiences, with guests that we've had on the podcast, even my own experience, when I was bootstrapping my e learning company, Embanet, I didn't have those budgets to pay these big dollars.

People will leave higher paying opportunities, higher paying jobs to come into an organization that's not paying as much if they feel that, to your point earlier, Scott, hey, we're changing society, or I'm going to learn a whole lot here. This is a really rich and vibrant culture. And speaking of culture, I know in your book, Scott, you talk about this.

So to get the most out of our team's creativity, you talk about five strategies that really make a difference for teams and the culture and how to get the most out of our people, any insights, any tidbits that you can share with us.

Scott Clancy: Right. So I think that igniting team creativity is essential. Now. I think it's gonna be based upon already having a good vision. So I'm not gonna tell business leaders that are, experts in setting business strategy but so visioning is a thing. I've done some recording on this and there's some stuff in my book on how [00:31:00] to create good visioning, but if you want to ignite.

Team creativity. Here's a five tip kind of piece that I work for that. And the first one is you need to set the stage well as a leader. And what I mean by that is don't limit their capacities. Don't limit their mental, this is what I want. I only want this. No, let them be bold, ignite their imaginations, be inspirational and be as big as you possibly can with that.

Because if you allow them to think big, they will give you ideas that are clearly beyond the box. Number two, use keywords. We're back to this vocabulary, this narrative piece, taking keywords out of your vision and your narrative that will anchor the team into those not. Limit their thought process, but rather anchor them so that they see, okay, yeah, be, these become the fundamental values that have to come through in this, whatever, innovative, creative process they're in and then ask open ended questions.

That's number two is keywords and open ended questions. [00:32:00] Again, looking at being big, I always say number three is seek collaboration. What I say about this is very rarely when we step into something new, has this not been exposed before in academia, in a different type of business, in government, or somewhere else.

I go out and I seek those experts. A lot of times I would bring these into my team and my team would go Wow. So, this guy, I coached with them and he had a thing, okay, well, that's, and then they would ignite and inspire these things. So by seeking that collaboration, and then sometimes I would also bring two teams together that were focusing in on maybe different elements of the same problem by collaborating, they have ideas on each other's, problem sets all of a sudden you get 

more ideas, but also better integrated ideas. The fourth one here is I like to devolve or enable responsibility down. And I think this is one of the key elements out here is that, being creative, people say, I want to be part of this creative process. [00:33:00] And a lot of times as leaders, the best way that you can be part and enable a creative process is not being there, right? You give that and informal leaders are great here. People that you go, yeah, this is an inspiring person in here. I think they've got the skill sets give them the opportunity to lead that team or say, you know what? given you the ideas, all the rest of the stuff.

I want you guys to go away. Jimmy, I kind of want you to shepherd this for me as they walk around. Let's bring me back some ideas here in a little bit. And I think you'll just be amazed that when you enable people like that and Devolve that responsibly what they give. And then the last one is a schedule updates.

With no agenda.

I know this is hard from a managerial point of view. Here's our project management updates. I want to see outputs on this. And if you're going to be creative, especially at the beginning of these processes, just schedule an, I want an update Tuesday, just where you're at.

And other times, I also like to just drop by informally. And the reason why those two things work together is if you just drop by informally, you're going to. [00:34:00] Come in the middle of something, you might be able to answer a bunch of questions really easily, really quickly for the team, and that might just reinspire their imagination.

I used to have a three star general. I used to like to drop in and I was working in the bowels of a headquarters and he just dropping around the corner. Hey Scott, what are you working? Well sir had like three questions for you and the team had two more like this and all of a sudden he would just be having a conversation with us and we would be writing.

And quoting him so that when we came to that, wow, I never would have thought of that, but then he mentioned it. I'm into this. So those are my kind of five ways in which think you can be more creative as a leader.

Jeffrey Feldberg: what's terrific about that, Scott, it's asking us as leaders, we need to be vulnerable. We need to check our egos at the door. Hey, step aside, let someone else do it. Yeah, they may fall down, but you know what? You're going to be there to pick them up, but you're also going to be accessible.

You're not going to be in some ivory tower and you're there, you're helping them. You're part of the process. You're part of the team. And that's really. I imagine what would get things moving in terms [00:35:00] of, yeah, we're going to accomplish this goal. And look at this, Scott's right on board with us. He's there and he's popping in and out and he's available and he's really supporting us.

How am I doing with that? Am I on base, off base?

Scott Clancy: Absolutely. One of my mentors is Rick Finley, Lieutenant General Rick Finley was the senior Canadian in NORAD headquarters. On the morning of 9 11, his name's actually on the headquarters building down there and he taught me leadership by walking about. What he used to mean by that is just be out and about with the team.

Yes, it's going to show your visibility, but more than anything else, having a pen and paper and just writing down those ideas, answering those questions for them, that allows for that frank conversation and that engagement can be everything for the people on your teams.

Jeffrey Feldberg: Love it. Absolutely love that. And Scott, let me ask you this before we go into wrap up mode. Are there any topics that we haven't covered? Is there a message you'd like to get out to the community that we haven't yet spoken about or a question I haven't asked?

Scott Clancy: No, I think that prime purpose for me behind this book and behind, everything that I like to do is [00:36:00] to give back. There's an element of service here in us developing leaders. I always say, I think the world needs better leaders and coaches. I hope that I can help people be both, whether you're coaching, your youth Teams in the community or, leading multinational complex business organizations, the same care, sincerity, the same leadership and empathetic coaching, these can all coexist the same time, in the same place.

And we can lead people into combat or into the most biggest depths of business dealings, you know, with the dire consequences. With the same kind of care and empathy that we can lead youth in the beginning stages of t ball game. And I think that by combining these coaching and leading skills and developing leaders that have these fundamentals, this is what's going to make the difference for our communities, for our world, for our countries.

Jeffrey Feldberg: Yeah, I couldn't agree more. And for our listeners, before we go [00:37:00] into wrap up mode again, in the show notes, there'll be a link. I encourage you to go to the show notes, click on the link. Get the Developing Coaching Leaders book and ask yourself for your organization. Where are you with your leadership?

How could you get some jet fuel to catapult it to the next level? And perhaps even bringing Scott in to mentor some of your leaders on how to develop this coaching style, because it's very different than, okay, well, I'm the leader, my title says on the door that I'm the leader, just do as I say as I do.

End of story. That isn't because. Post pandemic and during the pandemic, we saw people were leaving terrible commutes and terrible bosses to find a better lifestyle, a better opportunity, a better job, a better company. And so really as leaders, the onus is on us, not the other way around. To show everyone, to show a world class team why they should be staying here and why we're going to be the ones to help elevate them to the next level.

So with that said, Scott, I have the privilege, I have the pleasure to [00:38:00] have our ritual here of asking the same question to every guest. And I know offline you're sharing, Hey Jeffrey, I've listened to some of the episodes, so I'm sure you're prepared for this, but I'll throw it out there anyways. It's a fun question.

Think of the movie Back to the Future, and in the movie, you have that magical DeLorean car that can take you to any point in time. So, Scott, it's tomorrow morning, you look outside your window, and this is where the fun begins. Not only is the DeLorean car curbside, the door is open, it's waiting for you to hop on in, which you do, and you're now going back to any point of time, perhaps, Scott, as a young child, a teenager, whatever point in time that would be.

What are you telling your younger self in terms of life lessons or life wisdom, or, Hey, Scott, do this, but don't do that? What would that sound like? 

Scott Clancy: that's really interesting. I think that's part of my personal journey. Talk a lot about leadership and coaching and a lot of these big ideas. But I wasn't necessarily the greatest leader when I was very young in my military career, I was probably way too brash, not a lot of tack, very [00:39:00] loud mouth, the kind of things that I wish I would have been more self aware.

So what I would say to myself is you need to create space between the emotions that you're having. Those reactions. And I'm a very, I mean, you can see me, Jeffrey. I'm a very, energetic person, but what that causes my emotions led to reactions that in many cases weren't serving me nor my teams well.

And when I became more self aware, create some space in there, I could make. Choices for my behaviors and that develop skills that these are the ones that I wish people would have. So that's what I would tell myself. 

Be more self aware. 

Jeffrey Feldberg: Yeah. Yeah. No, I love that. Create more space between your emotions, your reactions. You'll have better choices. I mean, my goodness, who hasn't been there? You know, We fly off the handle or we just have this momentary lapse and we say things or we do things that we can't take back. What terrific advice.

Our listeners, again, this is not gold. This is platinum that you're hearing today, not just [00:40:00] with that way of being, but also for all these strategies and tips and tactics, Scott, that you shared with us. And on that note, Scott, what a wonderful way to close out this episode because it's official.

It's a wrap. Congratulations. You're absolutely fantastic. And as we absolutely love to say here at Deep Wealth, Scott, may you continue to thrive and prosper while you remain healthy and safe. Thank you so much.

Scott Clancy: Thank you very much for having me and thank you for what you do, Jeffrey. 

Sharon S.: The Deep Wealth Experience was definitely a game-changer for me. 

Lyn M.: This course is one of the best investments you will ever make because you will get an ROI of a hundred times that. Anybody who doesn't go through it will lose millions. 

Kam H.: If you don't have time for this program, you'll never have time for a successful liquidity 

Sharon S.: It was the best value of any business course I've ever taken. The money was very well spent.

Lyn M.: Compared to when we first began, today I feel better prepared, but in some respects, may be less prepared, not because of the course, but because the course brought to light so many things that I thought [00:41:00] we were on top of that we need to fix. 

Kam H.: I 100% believe there's never a great time for a business owner to allocate extra hours into his or her week or day. So it's an investment that will yield results today. I thought I will reap the benefit of this program in three to five years down the road. But as soon as I stepped forward into the program, my mind changed immediately. 

Sharon S.: There was so much value in the experience that the time I invested paid back so much for the energy that was expended. 

Lyn M.: The Deep Wealth Experience compared to other programs is the top. What we learned is very practical. Sometimes you learn stuff that it's great to learn, but you never use it. The stuff we learned from Deep Wealth Experience, I believe it's going to benefit us a boatload.

Kam H.: I've done an executive MBA. I've worked for billion-dollar companies before. I've worked for smaller companies before I started my business. I've been running my business successfully now for getting close to a decade. We're on a growth [00:42:00] trajectory. Reflecting back on the Deep Wealth, I knew less than 10% what I know now, maybe close to 1% even. 

Sharon S.: Hands down the best program in which I've ever participated. And we've done a lot of different things over the years. We've been in other mastermind groups, gone to many seminars, workshops, conferences, retreats, read books. This was so different. I haven't had an experience that's anything close to this in all the years that we've been at this.

It's five-star, A-plus.

Kam H.: I would highly recommend it to any super busy business owner out there.

Deep Wealth is an accurate name for it. This program leads to deeper wealth and happier wealth, not just deeper wealth. I don't think there's a dollar value that could be associated with such an experience and knowledge that could be applied today and forever. 

Jeffrey Feldberg: Are you leaving millions on the table? 

Please visit [00:43:00] www.deepwealth.com/success to learn more.

If you're not on my email list, you'll want to be. Sign up at www.deepwealth.com/podcast. And if you enjoyed this episode, if it added value, if you walked away with some new insights and strategies, please leave a review on your favorite podcast channel. Reviews help us reach new listeners, grow the show. And continue to create content that you'll enjoy and as we wrap up this episode as always please stay healthy and safe.