Team Coaching vs Group Coaching: Is There a Difference?

by Laura Rennie | Mar 10, 2020 | Group Coaching, Laura Hall

Have you heard of group coaching? (Or, are you interested in learning more about group coaching?) If so, you might be wondering what the difference is between group coaching and team coaching. There are many similarities between the two. Both types of coaching involve a facilitator working with a set of individuals. In both cases, individuals are looking to grow professionally through increasing leadership skills, learning ways to effectively communicate, and more.

But, there is a key difference between group coaching and team coaching. First, let’s define what each type of coaching entails.

What is Group Coaching?

In a group coaching setting, people who have a common interest gather together to work on individual goals. Each person has the opportunity to share his or her goals, and is held accountable by other members of the group. While a facilitator guides the conversation, members of the group are encouraged to share their perspectives and experiences. Thus, peer learning is accomplished.

Benefits of Group Coaching

Group Discussion

Do you ever feel stuck? You might be approaching your issue from the wrong angle or mindset. Group coaching provides a platform for each individual person to receive input from the rest of the group. Plus, you might be an expert on a subject that another individual needs help with!

Accountability

Never underestimate the power of accountability! With group coaching, both the facilitator and fellow group members will check in to see how you’re moving forward towards meeting your goals. While you will note your progress at each meeting, you also have the opportunity to create check-ins outside of the structured group meeting. That brings me to…

Mutually beneficial relationships

You might find yourself in a group with another person who has a similar goal to yours. You could be in a similar line of business. Regardless of the reason why, you’ll likely find yourself connecting with one or more members of your group. If this happens, look for ways to meet up outside of the group coaching setting.

What is Team Coaching?

Like group coaching, team coaching involves increasing the professional development skills of participants involved. However, instead of working on individual goals, participants work together to set goals and make decisions. This is a great option for workplace teams who have undergone a change in leadership or who are still getting to know one another. In a team coaching setting, each person’s individual skill set is seen as a valuable and vital part of the team’s success.

Which Type of Coaching is Right For Me?

Are you looking to meet goals you’ve established for yourself as an individual? Would you like to receive input and accountability from other people? If so, give group coaching a try.

Are you part of a team of coworkers or managers who would benefit from establishing shared goals? The success of team coaching is based on each person working together.

Still not sure if group coaching is right for you? We’d love to help!

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Our next group coaching session will discuss how strengths and money relate to one another. Financial Coach Jane Helm and Executive Coach Carol deLaski will lead a small group of women in exploring and applying two powerful tools, Money Personality and Strengths Finder. Learn more and register here!

It’s Costing You

by Dawn | Nov 11, 2019 | Finances

Six Common Money Mistakes That Keep You from Building Wealth

If you’ve been trying to build wealth and falling short, it may be that you need to think about what decisions you are making that actually cost you money! I am an expert in these mistakes, as I made them myself, and I experience these with my clients, too!

Building wealth takes time-for some of us, a very long time! But by addressing some of these mistakes, you can enjoy an immediate upward trend in your net worth!

Not having enough money saved: I am a huge fan of savings accounts! I recommend having your savings earmarked in several accounts, with the most important one being your emergency fund! The emergency fund is foundational in building a life of security, as we never know when the unexpected may happen. If you don’t have enough in an emergency fund, you may find yourself dependent on credit cards do get you through a time of crisis, which can lead to further stress in a time of overwhelm.
Not having a budget: I have never liked the word “budget” as it sounds restrictive. Having a Saving and Spending Plan allows you to know how much you have to spend on your committed expenses, your discretionary expenses, and savings amounts. Following a plan will help you to feel empowered and stay on track with spending and
Overspending: this is a biggie! We are all being subjected to marketing numerous times a day. We may have signed up for a discount from a retailer, and now get daily emails with promotional prices. Or maybe you’ve looked at a particular item online, and now are seeing those same items appear on your social media feeds. The temptation is real! Learning to recognize that you are making financial decisions when parting with your money and that each of these decisions will have a consequence is an important step in resisting temptation. Remember, you are in control-not the retailers!
Using credit cards: Credit cards are not a bad thing if you use them and pay them off as you go. However, the mistakes I see happen when people use them, begin building a balance that they can’t manage and begin digging themselves into a pattern of increasing their debt because of the interest that is being charged on each purchase. If you do use a card, only charge an amount you know you can pay off! Otherwise, the money you want to go towards building your wealth is going to a bank and making them richer!
Not Understanding Your Numbers: Do you know your specific numbers-your total income, debt, investment totals, and your savings amounts? All of these numbers are important factors in determining your Net Worth. Simply stated, your net worth is calculated by subtracting your liabilities from your assets. To build wealth, the assets should be greater than your liabilities and continue to grow, while your liabilities should decrease whenever possible! Understanding your numbers can help you stay motivated when building your wealth!
Avoiding talking about finances: after working with a lot of couples, I can say that this is a very common challenge. Money is an emotional topic! If you have difficulty talking with your partner about your finances, start by talking about how each of you grew up with money. It will provide some clues as to the approach each of you has with money management. This can lay the groundwork for future conversations that will eventually involve numbers. Being able to have these conversations will help you to build wealth, as you can build teamwork around your goals.

We are all capable of building a life of abundance! It’s our everyday habits, lack of communication and denial around our numbers that keep us from accelerating the process of building the wealth you deserve!

Today’s Author: Jane Helm is the Principal of Money Mentor Group. As a wealth coach, Jane combines decades of financial services experience with a degree in social work and psychology to bring positive financial change to her client’s lives. She is a Partner Coach with the Wholistic Coaching Coalition and co-founded the Build Your Own Business networking group. Jane can be reached via email at [email protected]

A Guide to Getting the Best Facilitators for Your Retreat

by Jane Helm | Sep 9, 2019 | Professional Development

Planning a retreat can be a daunting task! There is a myriad of details to map out, including the theme for the retreat, the venue, the schedule, and marketing. Whew!

Once these particulars of your retreat are taken care of, it’s time to select a facilitator-the person who will represent your company’s values and make certain that the attendees get the most out of their experience.

Facilitators become “the face” of a single session or group of sessions, and have a major impact on the success of your retreat. So, how do you find the best candidates for such a big role?

DO YOUR HOMEWORK!

In selecting a facilitator there are some key factors to consider:

Experience

Have they done this type of work previously? Facilitating is a unique skill that involves leading a group of people around a specific topic. The person in this role should feel comfortable in front of the number of people attending. The larger the group, the more experience may be warranted in making your selection.

Subject matter

Does the potential candidate have any experience leading discussions about the content of the session? Choosing someone who understands your topic or theme may need less training than other potential facilitators.

Your audience

Can the facilitator create a rapport with your attendees? Selecting someone who can easily establish trust and relate with the participants will be a key factor in making sure the retreat is a success!

Skill Level

The person in this role should have some key proficiencies in facilitation:

Time Management

Making sure your group is working through the agenda in a timely fashion.

Neutrality

An experienced facilitator will understand the importance of remaining impartial while leading a session or group. This allows the participants to be more open to sharing.

Communication

There are several key skills that should be considered:

Can they express the key talking points eloquently?
1. - Do they have Active Listening Skills? These include the ability to paraphrase and ask relevant questions to the audience.
  - Can they read the body language of the audience?
    - Can they recognize when there may be a need for an unscheduled break?
    - Is there a need to include someone who appears to be feeling left out? Or is there someone who is dominating a conversation?
    - How would they handle conflict within a discussion?

There is certainly a lot to consider when selecting the facilitator for your upcoming retreat. Their role is significant and can elevate your retreat to creating an uplifting experience for your attendees. By doing your research, vetting the right candidate you can rest assured that your event will be a success.

The Urgency of An Emergency

by Jane Helm | Jul 8, 2019 | Finances, Personal Development

Start Boosting Your Savings Now!

We’ve all heard the saying. “a penny saved is a penny earned,” but why aren’t we able to save more? The reasons (or excuses) can be varied-some of us are overextended, meaning we are paying out more than we are taking in; for others, it may be a bad case of FOMO (fear of missing out) and for others, it may not seem important.

According to a recent Vanguard study, a majority of Americans have less than $5,000 in their emergency fund. My recent experience with an unforeseen injury proved to me that we all need to bump up our own savings rate. My injury has cost me dearly, both physically, emotionally and FISCALLY! When totaling up the money that I have spent on deductibles and co-pays, I can share that I have spent over three times the five-thousand-dollar figure! One injury, one unforeseen emergency can easily derail a savings fund!

Here are some tips to boost your savings account that center around your everyday habits:

Set a savings goal. How much do you need to cover an unforeseen emergency? A suggested initial amount is the total of three months of all of your fixed expenses. These expenses include the “must haves:” your rent or mortgage, auto loans, utilities, food, and your current financial obligations. Keep your emergency savings in a separate savings account so you can track your progress and earmark it for emergency use only
Bring your lunch to work instead of eating out: The cost to make your lunch is approximately $2.00 vs. the $7.00 for the average lunch eating out. The saving s of $5.00 every weekday is $25.00 a week or $100.00 a month!
Brew your own cup of coffee to go rather than buying t on the way to work. If you spend a minimal amount of $2.00 each workday on your cup of joe, you are out $10.00. By incorporating this new habit, you can put away $40.00 a month!
Take time to evaluate your cell phone plan: are you paying for data that you’re not using? It makes sense to review your minutes and data and lower the plan limits if possible.
If you are trying to pay off credit card debt, incorporate a strategy and stick to it! There are several strategies that can help you pay off your debt: The “Ladder Strategy”, the “Snowball Strategy”, and the “Emotional Trigger Strategy.” Decide which strategy best suits your needs and plan to incorporate this into your monthly budget.
Review your cable bill! How much are you paying to watch TV? Consider a lower cost streaming service to save hundreds over a year!
Go back and review your spending on eating out. How much have you spent in the past month eating out because you were too tired, overwhelmed or just didn’t feel like cooking dinner? Try cutting this amount in half!
Our spending on food also includes grocery shopping. This is a part of the budget that can always use some tweaking! I suggest creating a meal plan before you go to the grocery store: plot out five meals at a time. Then, write down all of the ingredients you will need for those meals. This will eliminate multiple trips to the store, where you may find yourself buying more than you anticipated. To maximize this step, make a map of your grocery store and then make your list accordingly. No more wandering down aisles that you don’t need to visit-this will save you time and money!
How many emails are you getting daily from retailers? You probably signed up for an initial discount offer and now your inbox is full of daily special sales! Each one of these is designed to tempt you to part with your money-simply unsubscribe!
Marie Kondo (“The Art of Tidying Up”) has started a movement of purging our homes! Look around your home-what are you not using? Consider selling items to raise some extra cash!
Here is one of my favorite tips: SAVE YOUR CHANGE! I have been doing this for years! The little amounts you are putting away can definitely add up! Every year, my vacation spending money has been funded by this habit!

These tips can be easily incorporated into your daily life and will allow you to begin the habit of saving more for your emergency fund. Knowing that you can cover unexpected expenses is a foundational step in building financial confidence!

Be Resilient – A Life Design Accessory

by Donna Kettell | Apr 30, 2019 | Personal Development, Retreats

Do you ever wake up and plan to accomplish a lot, only to find yourself completely exhausted midway through the day? Some days feel like we are in the midst of a whirlwind and I am sure I am not the only one that feels that I could dial up the healthy choices when...