Ask the Expert: Steve Coakley, Founder, The Welcome Company

Fostering Team Trust through Transparency and Honest Communication 

Through our work with hundreds of clients, we have connected with thousands of fascinating people who are creating psychologically safe workplaces and more equitable communities. For this “Ask the Expert” series, we invite inclusive leaders to talk about their professional journey, lessons they’ve learned, and what inspires them every day. 

 Steve Coakley, Founder, The Welcome Company

Stephen Coakley is a seasoned entrepreneur with over three decades of experience in taking ideas and building companies. His latest endeavor, The Welcome Company, serves small businesses through fractional, community-driven marketing. Stephen's leadership is characterized by a commitment to servant leadership and effective communication, anchored by strong business ethics. He strives to foster an environment where team members can excel and actively contribute and participate in the company’s success. 

Before we dive into our discussion, our readers would love to get to know you a bit better. Can you share how you came to your current role? 

I was semi-retired, but as a serial entrepreneur, I couldn’t help myself and started The Welcome Company. I’ve started several companies, and while not all have worked out, I’ve been fortunate to have a couple of successful exits. Starting companies is hard. I’m most proud that I’ve been able to start or help start multiple businesses in wildly different industries and still have some degree of success. 

What does inclusive leadership mean to you? 

To me, inclusive leadership fundamentally revolves around the concept of “welcoming”—aptly reflecting the ethos of my current venture, The Welcome Company. It's about ensuring that every individual within and interacting with our organization feels acknowledged and valued. This forms the bedrock of our culture, where we operate on a meritocracy of ideas. We actively encourage contributions from everyone, believing that diverse perspectives catalyze innovation and growth. 

How are you working to create an inclusive workplace? 

In practice, this means committing to an environment where continuous training and constructive feedback are norms, enabling every team member to feel empowered and important. Key traits I uphold in inclusive leadership include self-awareness, empathy, active listening, and honesty. These qualities ensure that while we strive for excellence based on merit, we also foster an inclusive atmosphere where every voice can be heard and can contribute significantly to our collective success. 

Can you describe a strategy or practice you’ve used to build trust and psychological safety within your team or organization?  

Building trust and psychological safety within a team or organization is crucial for fostering a productive and inclusive environment. At The Welcome Company, we've adopted several practices to ensure our team members feel valued and secure. 
 
One effective strategy has been the implementation of regular team-wide meetings, where team members are encouraged to share ideas, concerns, and feedback in a nonjudgmental setting. Hopefully, I make it clear that every voice matters, promoting an open exchange of ideas that drives collective improvement. 
 
We also prioritize transparency in our operations. By openly discussing decisions, strategies, and company performance, we demystify aspects of the business that could otherwise create uncertainty or speculation among team members. This approach has proven instrumental in building trust, as team members understand the “why” behind decisions and see their input reflected in company actions. 
 
These practices have not only improved our team dynamics but have also led to tangible enhancements in our performance, fostering a culture where innovation and collaboration thrive under the umbrella of mutual respect and trust. 

Can you tell us about a memorable win as a leader? It doesn’t have to be big, just meaningful for you. 

When I think about memorable “wins” big and small, I go right to surviving as an entrepreneur—where you need to celebrate the little wins every day. But in the context of this discussion, I fondly remember a former teammate. After he joined my team, he got off to a rough start, and we had a number of “tough” conversations. It’s been said many times before, but feedback given in a spirit of lifting people up is a gift. But it’s a two-way street; the recipient has to trust that the person giving the feedback has their best interest at heart. There must be mutual trust and respect. In this example, the employee came very close to being terminated. Now, 10 years later, he’s a senior vice president in the same organization. He is known and respected around the world in his specialty, and he’s a great leader in his own right. 

What strategies do you use to maintain your personal well-being and/or professional resilience?  

Really good question especially in the world of start-ups and entrepreneurs. It can be lonely, and it is tough. It’s not for the faint of heart. Early in my career, I found tremendous value in a group called Entrepreneurs’ Organization (EO). I was connected with a small group of other entrepreneurs, ensuring no one was competitive. We’d meet once a month, and the meetings followed Chatham House Rules, which encouraged open and frank discussions. We trusted that what we said in the meetings would remain private. You could discuss anything there, not just business. Other groups like EO are popping up all the time, and now, there are even more options, some that include coaching. Regardless of the type of group you find, I think it’s important for an entrepreneur, or any senior leader, to have a sounding board. 

How can people follow you online or connect with you? 

I’m active on LinkedIn and X. The Welcome Company is on just about every platform. Email works too, steve@thewelcomecompany.com. 

For more on inclusive leadership and how it drives employee engagement, read The Diversity Movement’s latest book, The Inclusive Leadership Handbook: Balancing People and Performance for Sustainable Growth, by Kurt Merriweather, VP of Marketing, and Donald Thompson, CEO. TDM has also created LeaderView, a leadership assessment tool that uses cultural competency as a driver for improving whole team performance.