Queensland TEC Chair, Richard Palmer shares his evolution from business leader to effective mentor, leading a group of CEOs to business success and triumph.
With over 25 years of experience in private equity, executive, board, and governance roles, Richard has carved out a career working with high growth businesses and leaders. Whether they’re introducing new products or services to the market or have a new entrepreneurial idea, he is passionate about helping leaders drive personal and business growth.
In 2016 Richard was approached by The Executive Connection (TEC) CEO, Stephanie Christopher to be a Chair and has since facilitated hundreds of peer mentoring sessions.
Being a mentor
With over 45,000 members across 35 countries TEC is for executive leaders, CEOs and business owners who want to accelerate personal and professional growth. Members who join TEC have access to their own peer advisory group, one-on-one coach guided by an accomplished Chair and access to expert speaking and online learning platforms.
According to Richard, being a mentor is not about doing a job for someone. It’s about listening, learning and helping the other person to uncover their true answer.
“The art of leadership is not doing the tasks, but rather encouraging and skilling those around you. Good leaders are also more likely to be naturally good mentors, as they possess skills such as critical thinking, decision making and problem-solving,” he says.
While Richard notes that being a good leader and mentor is fundamentally the same, there’s an important point to consider when being a listening ear for someone else.
“As a TEC Chair, my role is to facilitate a conversation among a group of individuals extracting what others think and offering different perspectives. By gaining the views of other leaders, you tend to find a range of outcomes that could be best suited to a particular issue or situation,” he says.
There are three standouts that Richard believes are important to be an effective mentor:
- As a mentor you can’t run the company or take responsibility for the action as this ultimately won’t help your mentee.
- Creating a supportive environment that facilitates open and honest conversations is key. Striking the right balance between support and holding people to account means leaders have the opportunity to build and grow.
- Finally, it’s important to know what success looks liketo understand the outcomes, both financially and personally, of the person you are mentoring.
The value of peer mentoring
Anyone who decides to lead a business or challenges themselves to build one, often seeks support or advice. At TEC, the most commonly heard phrase from CEOs is ‘I’m lonely at the top.’ Getting involved in peer mentoring can have a huge impact on a leader from a business and personal perspective.
“It can be really difficult for a friend or partner to relate to the business challenges you’re facing. The beauty of TEC is that you’re surrounded by other leaders who want to share their expertise and empower others to succeed,” says Richard.
Richard believes a mentoring relationship is a valuable business asset.
“As a mentor you’re not judging an individual on their performance, you’re simply dealing with the person in front of you and aiming to provide an experience that will help them feel supported and resolve any issues they may be faced with,” he says.
The power of TEC
Richard is constantly surprised by the sense of community and commitment TEC members have for each other.
“It’s not often something you see in daily life. There is a level of trust and openness that allows for honest and robust discussions as members process issues and gain different perspectives. This close bond can have a profound impact on the people involved impacting both their personal and professional life.
“The special thing about TEC is that it’s not about finding people to do business with. It’s about uncovering your trusted tribe and brains trust – people you can build real and lasting relationships with as you work through the challenges you face in your business and life and as a leader,” he said.
Richard believes it’s an absolute privilege to be a TEC Chair and suggests leaders with the right skillset should consider signing up.
Learn more about Richard Palmer here. For more information visit: The Executive Connection
