Latest / Exit Algorithms / How to Prepare Your Team for the Conversations an Exit Requires | Nicole Alos (#99)
Transcript
- Pete Vera, Exit Algorithms: Welcome to Exit Algorithms, the podcast where we decode what it really takes to unlock growth, streamline operations, and prepare your business for a high value exit. I'm your host, Pete Vera, and today I'm joined by Nicole Alos. Nicole is founder of Socratic and the creator of Socratic Sidekick, an AI powered practice and coaching tool that helps leaders, founders, and teams rehearse high stakes conversations before they happen. She works at the intersection of executive coaching, leadership development, sales, go to market strategy, advising business owners, CEOs, and leadership teams through growth, pressure, and change. Nicole, excited to have you here. Welcome to the podcast. Nicole Alos: Thank you. I'm very excited to be here. Pete Vera, Exit Algorithms: Yeah, I I gave a little brief intro, but I'd love if you could start off and share for listeners a bit about your background, career journey, how you, you know, made the leap into business. Nicole Alos: Yeah, absolutely. So background is in sales and customer success, management, leadership, and executive leadership. ⁓ I decided, I want to say about eight years ago, that I wanted to just go off on my own. And I was kind of climbing the ranks, I was doing less and less of the things that I love, which is, you know, teams and supporting leaders and that type of thing. So I launched ⁓ Seven years ago. initially I brought together tools that really worked well for me in previous life. ⁓ So, know, disc, five behaviors, situational leadership, all of those sort of methodologies that helped me scale. And then over time, I realized: okay, I have this whole background of information, but then I'm just kind of hiding behind else's framework and someone else's tool. And over the past, I'm gonna say, you know, three or four years, I've really on how can I bring together all the tools for ⁓ my clients, whether it's consulting, coaching, executive coaching, ⁓ to make that they feel really prepared and they're set up for success. ⁓ So that's even including getting a certification with exec an executive function. you know, it's it's all the things. So it's been a definitely a fun journey. and about a year ago, I realized that there was this unmet need that I kept running into with clients and that consultants and coaches kept running into as well, which was someone would be so excited and so ready for these conversations. So maybe it was like, you know, a pitch for investment, or maybe it was a setting meeting for the team to get them excited about the vision ahead. And there a of times where they're in the conversation and it just doesn't quite go as planned. And so I ⁓ again was trying search for different tools that would be able to support them. And there wasn't one. So built Socratic Sidekick, which is ⁓ an AI-powered role play tool. Aligned with our IP and frameworks to really help with that conversation so that people feel really, really prepared. So, then most recently, I was accepted into a VC Venture Capital which is a collaboration between Generator, which is a VC, and Meta. And going full force on this tool. ⁓ completely out of my element, fish fish out of water. it's been quite a journey for sure. to from kind of way back when ⁓ to it in this sort of executive leadership role to now being in the spot where I have this ⁓ established business, then I'm also brand new at something. So a humbling experience for sure. Pete Vera, Exit Algorithms: Yeah, ⁓ that's awesome. Really, really exciting. ⁓ yeah, and we'll talk, I think, a a lot more about the AI tool later. And you know, there's a lot of rabbit holes we could go down. How about we first start off with building a a sales team, you know, that scales? H how do you advise business owners, CEOs to know, how to hire and ⁓ on and and build a a real sales team? Nicole Alos: Yeah. Yeah, so I think the the first key is to get really clear on the vision. What are you trying to accomplish? Who, you know, who is your ideal customer profile? ⁓ this actually look like to start? And I think quite often leaders I work with tend to want to. just let's just jump in, let's just see what kind what candidates we have. But I think getting really clear on what value are you adding to these salespeople and you know what what is going to be important is step one. then step two ⁓ being able to get really clear on you know how can you have a diversity of personalities, communication styles, behavioral styles Because when we think about it from like everything disk is something I work with quite often. And we think about that framework of you know D, I, S, and C, there's 25% ⁓ each category. So it ⁓ Pete Vera, Exit Algorithms: Yeah, do you mind going for listeners that may not be super familiar with this? Can you explain that a little more? Nicole Alos: Yeah, absolutely. So DISC is basically a behavioral profile which into account that we have these innate priorities, motivators, and stressors, which were was pretty much developed we were 20, 21, 22. It's those that might make us feel just like take less energy and we might gravitate towards. So D style is really focused on let's get things done, let's be efficient. The I style is really focused on relationships, getting things done through those relationships. the S style is really about creating harmony in someone's environment and making sure the team's involved. And then the C style is really on analytics, data, or like really making sure that you're kind of beyond Beyond reproach, right? And so when we think about to accounts even just, you know, B2C type of there's 25% of the in each But if if leaders aren't, I don't know, more intentional about the types of sales people that they're hiring, it can be very easy to hire of the same, more of the sales leader, whatever that style might look like. And we think about the ability to stretch to meet the needs of that other person, our client or our prospect, it's important to just have that diversity of either being to have a similar style or to be emotionally intelligent enough to be able to stretch to meet someone where they are. I the way that I always consult to hire ⁓ a little bit different than the traditional model for sure. Pete Vera, Exit Algorithms: Yeah. What how do you go about ⁓ you know, identifying the the disc profiles of your team? I I imagine it takes some some time and you know, you how do you how can you assess that maybe out of in after an interview? Nicole Alos: So step one would be understanding whether it's disk or any other similar tool, what the team looks like and understanding what the sales leader looks like first. So that's pretty easy in terms of just being able to, you pick that assessment, find somebody who's who's solid and being able to debrief debrief it and and you know sure that you have that information. You can I think it's a little bit easier easier when you use behavioral questions to understand who can shift to meet the needs of the interviewer and shift to meet the needs of the conversation. I think it is a little bit harder to figure out what someone's disc style is, but You know, you can tell if people are able to understand where you're coming from and then shift that answer for sure. And that's something that's really hard to teach. the messaging and the elevator pitch and all of that is easier to teach than being able to make shift, in my opinion. Pete Vera, Exit Algorithms: Yeah. And and how does that you know, interplay with the five behaviors you mentioned? you know, what what is that? I I'm curious if you could talk a little more about yeah, communication styles in in a team. Nicole Alos: Yeah, absolutely. So premise of the five behaviors is based on Patrick Lincioni's book, The Five Dysfunctions of a Team, which has been around for ⁓ some time. And the premise is that instead of just focusing on results, okay, here's you know, here's our sales target. There's this foundation of establishing vulnerability based trust, meaning I don't know the answers. Will you help me? When that's in place, then ⁓ Teams are then able to engage in healthy conflict, which is I'm going to put everything on the table and see the value in us debating this conversation. when happens, even if people don't agree, they can then commit to, okay, this isn't the path I thought, but I said what I needed to say and I'm on board. and then able to have this peer-to-peer accountability. So ⁓ All right, you said you were going to do one thing. I'm not going to wait for my for this executive leader to hold this person accountable. I'm going to have the peer conversation. And premise is that only when all of those pieces are in place are you actually able to achieve these collective results as well. And so disk layering on disk really looks at. You know, different person personality styles are going to have a greater or le less likely ability to, you know, engage in healthy conflict or you know be open or have those feedback conversations. but that's required that means that everyone needs to a know where they're strong and b be very intentional about where they need to develop, not only for themselves, but also for the good of of the team. And the more that I get into it, the more that I'm learning over over these decades is that a leadership is a lot more complex than I think we give it, you know, give it credit for. So Pete Vera, Exit Algorithms: Yeah, a lifelong process, right? Iteration and improvement. Yeah. What what are two to three things a a business owner can do to retention, ⁓ you know, without spending more just on on compensation? Nicole Alos: Mm-hmm. Exactly. I would say being able to be curious, and I'll explain a little bit more about what I mean about that, but also the ability to really ask and take feedback. I that there's there's a whole wealth of that ⁓ that a company has all throughout the organization. ⁓ and if there's not an environment where they can share, ⁓ hey, in it, here's what I think needs to happen, then I like there's a big disconnect. So when I talk about curiosity, it's really understanding value each employee and their perspective and finding ways to get that information back from them. What's working, what's not working, what's something that we're doing that makes no sense. I love asking that question new hires. when I when I hire someone or I have you know I help somebody hire on a team, what's one that we're doing that is absolutely ridiculous to you? And you get much ⁓ good information that would never have shared with you and they would have just kept it to themselves from a feedback standpoint. It's being able to say, able to understand that no one can be perfect, no can be the perfect leader, ⁓ and those conversations of how can I as a leader support you in in a better way? is ⁓ there's a program I recently got certified in the past couple years called Stakeholder Centered Coaching. And instead of Instead of really focusing on the 360 evaluations, I'm supporting leaders in having those conversations themselves. And having this information and then actually doing something with it will drastically improve engagement, retention, and ⁓ also this competitive advantage for your company. But it's not easy. So of course, there's always a right? ⁓ Pete Vera, Exit Algorithms: Yeah. Yeah. worth it is is usually easy. ⁓ Real really good insights there. Thank you. yeah, I'd I'd also like to talk about eliminating owner dependence, eliminating you know, whether it's a CEO or or founder, business owner, from do you have any advice around reducing ⁓ them as bottleneck in their business? ⁓ Nicole Alos: Exactly. Yeah. Yeah, so I think mean I I maybe I'm a little biased, and then I approach a lot of these situations and I recommend approaching a lot of these situations with sort of a framework first mentality. But think that this is a great example of a situational leadership approach, which basically looks at okay, here's a here's an employee. I'm not going to look at that employee as they're experienced or they're brand new. I'm going to look at that employee as here are the sets of responsibilities that they have. And then for each one, where are they in their journey? Do they need me to be hands-on can I delegate and check in? And so the leader's ability to to delegate in a very in a very specific way will allow them to understand when to coach, when to delegate. when there's regression, something's not going well, they know what to do. ⁓ so that, you know, ideally puts a leader in a position where they're only doing the things that they ⁓ to be doing. And have people around them that are excited to take on these new responsibilities. But there's a a solid plan about handing things off that are not going to be high risk. to the organization as as well. So I know that's a kind of a long answer, but ⁓ I ⁓ do think it's lean leaning into how are you delegating ⁓ how are you spending your time with person who in turn will be spending their time with with the the teams as well. Because I find a lot of leaders doing things that they absolutely shouldn't be doing because it's a waste of their time. ⁓ But handing it off without that whole plan also risky. And so that creates that leadership bottleneck, which is can be really challenging from a growth standpoint. Pete Vera, Exit Algorithms: Yeah. Yeah, do you think it comes down to like the workplace culture in some ways? Nicole Alos: I think it has a lot to do with that mentality of you have it figured out or you don't. You're experienced or you're not. You're a leader you're brand new. And I mean, that there's that's just way too binary for for this conversation. I think when can can really understand that different people, the same person needs different support, then a lot of times it'll open up the conversation and and get things moving a little bit. Pete Vera, Exit Algorithms: Yeah. ⁓ that's great. Yeah. And you know, maybe a a practical thing a business owner could do. do you have any recommendations? Is there like an audit system you do for or you you recommend that they go through to to see which to identify which tasks they should be delegating more? Nicole Alos: there's unfortunately wish there was like this amazing quick answer, but it's taking the people that report directly to you and figuring out are they on are they working on and what are some things you think based on their experience or their interest level that you can pass on. and just really going person by person by person and then letting them know that you're there for them. ⁓ You're you're this is a part of the plan. I'm handing this off to you for for specific reasons and getting them excited of like, here's this thing that that's mine, that's now yours. you know, really supporting that of this is to help your development. So I don't know, it always comes back to again being curious and having those conversations, I think is a really is a really great start. And even if you're just thinking about ⁓ responsibility that you can delegate to each person, that might be a good, good start. And when you're seeing how engaged they are in that process, and you're seeing, this is something I would have done, but now I don't, you know, now I don't need to. ⁓ And now can replace it with something that's a lot more high value, then I think there's that motivation to continue on that path. Pete Vera, Exit Algorithms: Yeah, definitely. Love it. Yeah, but let's talk a bit more about your your coaching AI tool. ⁓ do you mind talking a bit, you know, how was it built, what was it trained on and yeah, what what's it it exactly designed to do? Nicole Alos: Yeah, exactly. I think in the past w we think about getting ready for again these like these big that matter, kind of these make or break situations that we often don't realize until they're gone, like until they that was really pivotal or that was really important. Thank goodness that went well. I think in the past we just didn't have any mechanism. to support those conversations because there were so many different ways that it could go it's it's almost like why why prepare for something that we can't really get a good handle on. And AI, this gives the ability to have these conversations ⁓ and have AI react in a a realistic and even a more personalized way than a coach even So I was looking for when I was looking for a solution, there were a lot of chat-based tools, which is all well and good, but are we really chatting in conversations? No. So I up finding a tool that's currently being used more for presentation practice. So people who are preparing for ⁓ TED talks things like that. Little by little it's being used for more go to market. So, you know, how can we Pete Vera, Exit Algorithms: Mm-hmm. Nicole Alos: a certain product or whatever. I decided to invest the end of last year ⁓ use it for these leadership principles, these you know, even something like imposter syndrome or having giving feedback or whatever. And so ⁓ what I about it is I have the ability to get really, really specific about what are the scenarios, what are the personas, what are the different You know, how what are the different personalities you might deal with? then I can also get very specific with the rubric of what a good conversation sounds like ⁓ what a not great conversation sounds like. So at the end of this experience, so they log on, they sort of have a prescription of what their their practice path might look like based on either an assessment or conversation with someone on our team. And They're going through these role plays, which are con they can be a combination of a tutor, like, hey, let's learn the SBI framework for feedback. Give me an example of a feedback conversation you have coming up. Let's talk it through. So it's of a little training, but then they're pulled into a real as real as role play situation where putting it into practice. ⁓ Pete Vera, Exit Algorithms: Mm. Nicole Alos: And then they can immediately get a score on how that went. There'll be examples of how we want to reword a question. It's not just this didn't go well. It's okay, this well, but at minute this was close ended. Here's a way to make it open-ended. So the plan is that over time people have not only the feedback, but the actual language that they can use in their ear in Pete Vera, Exit Algorithms: Mm. Nicole Alos: in real life conversations. So that's pretty cool, I think. Pete Vera, Exit Algorithms: Yeah, really cool. Really cool use case. Yeah, I'm curious how else are are you using AI personally or in business and and how do you see it affecting your industry the most? Nicole Alos: So I am a part of a VC Accelerator program for that tool. And were ⁓ five venture companies that were selected in the state of Pennsylvania where I'm from. And I'm the one that is a ⁓ solo founder. And been able to really, you know, I've been to do well, I think, in this program as one person who's also has a full-time job and as a mom. Because of AI, it's allowing me to, you know, I can set up agents for certain things that I'm I'm doing quite often. I've been able to build my my web page. I'm able to build custom flows of practice paths. And I have zero true technical or true coding experience because of tools like lovable. you even in of there's a tool called Type Form where It's kind of like a survey monkey, but an elevated one. And now there's an AI component where I can say, here's what I, here's the information I'm looking to get. Here are the biases that I'm really concerned about. a survey that will meet that need. So it's it's things that either I would have spent a ton of time trying to perfect, or would have paid someone a good amount of money to ⁓ create. obviously, when you're when you're bootstrapping a startup app, know, you don't have a lot of extra money lying around. And if you do, it should be really going back into tech. So think generative AI gives levels the playing field in a in a lot of ways. but just like I do with my tool, I think it's important to kind of have these and the and a sense of here's what I will use AI for, and here's what where I absolutely will not use AI for and having be being really clear on that vision. I don't use AI to come up with ideas. I don't have use AI to write content. I don't use AI for a lot of things that some people think is the only way that AI is is being used. but I will use it in in areas where it's going to make my life easier. ⁓ going to replicate some things that I I'm doing that I You know, I don't really necessarily need to be doing. And it's almost along the same lines as delegation. I think a really solid delegator who has the has it down is doing really well in this AI space. You have to be clear, you have to check, you have to have you know to you have to QA everything. so it's been interesting to see that some of those transferable skills that I never would have thought about. So Pete Vera, Exit Algorithms: Yeah. ⁓ that's great. I love your perspective. Okay, Nicole, last question here. If you had to pick one practical tip for business owners wanting to pl plan a successful exit, what would that be? Nicole Alos: Yes. is probably no surprise after our conversation, but it would be practice. It would be practice those ⁓ ahead of time or be prepared or connect with somebody who gets it. Of how you be transparent when you can't say everything that's going on? How can you ensure that the focusing on what they need to focus on, even when there's so much potential and excitement going on? and so. ⁓ As we all know, that can what's going on with the team can kind of make or break what's happening. And so really intentional ahead of time to to be ready, I think is incredibly important. Pete Vera, Exit Algorithms: Yeah, awesome. Well, thank you, Nicole. I love this conversation. Where can listeners find find out more about your business and and the work you do? Nicole Alos: Yeah, so probably the best place to start would be founder ready dot ai. That's usually the the the easiest connect. And so that talks about a lot of different tools and that also connects listeners with me as well. Pete Vera, Exit Algorithms: Sounds good. Great talking to you today, Nicole. I love this conversation. Nicole Alos: Thanks so much. Great talking to you too. Bye.