I am not an investment coach, but I believe that learning about investing informs my coaching and makes me a better coach.
I enjoy reading and thinking about investing. For many of my friends this is incredibly dull. OK, for most of my friends.
They really hope that I don’t discuss stocks or the markets. Or, write about it.
Before you turn away or move on, let me share just one thought.
Many of the things that I learn when reading about investing translate into valuable information for coaching.
For example, this little article on an investment site about overcoming our bias towards action.
The author discusses our need to act in most situations even when it might be best to simply do nothing, show patience or have faith.
Many coaches change quickly when times are tough because they feel the need to do something, maybe anything, to impact the situation. We humans can’t tolerate how it feels to simply continue on the path, or worse, just wait.
Our team calls this urge to act the “Do Something Bias”—the feeling that you need to act, even when the situation doesn’t warrant it. This bias often surfaces when we feel like we are experts in a situation—and feel an undo amount of control over something uncontrollable—or when we face uncertainty and acting is our way to alleviate the anxiety of the unknown. But this bias becomes a problem when the best course of action is to do nothing. And it’s surprising how often this is the case.
It brings to mind a book I am reading and re-reading lately Antifragile, which is more philosophy than investment, but Taleb, the author made his reputation writing in the investing world.
Of course, this is probably true of any field.
The more we expand our interests and reach, the more commonality we will find among disciplines, the wider the lessons we are exposed to and the more thoughtful we can be about coaching.
Much of what we learn in other areas can be applied to coaching and in fact helps us to expand our thinking and improve our work.
So no I’m not an investment coach, but I still think learning about investing makes me a better coach.
Another investing book that taught me a similar lesson: