As a business owner, two of your most important assets are your employees and your leadership team. Here are five common mistakes that business owners make when building their team.
Congratulations! You’ve documented your company’s core processes. It’s a big undertaking for teams to simplify and document their processes. The next step is to roll them out to everyone in the company and get them followed by all. But how do you do that?
Do you ever get frustrated with people on your leadership team while solving problems or brainstorming ideas? They may ask too many questions, jump to conclusions too fast, are too quiet, or are always a pessimist. Do you sometimes wish they all had your “MO” when discussing these things? Wouldn’t that be great? Or would it?
You might think it’s best to have all optimists on your leadership team or that it might be best to have all innovators or all realists, when in reality, my experience, after having observed almost 100 leadership teams identify, discuss, and solve issues, is that you’ll actually benefit by having a balance of all types.
In the last quarterly session with a client, the team reported record financials in the last 90 days. They exceeded their revenue and profit targets, and they completed over 90 percent of their rocks. By all estimations, they had every reason to celebrate. But when it came time to grade the quarter, they gave it a C+ / B–. Surprised by the low grade, I asked them to explore this a bit. What they discovered has the potential to change their company for years.
The leaders of companies running on EOS® learn to look at their business through the lens of the Six Key Components™ (as illustrated by the EOS Model™). This is important because the root cause of a company’s issues is weakness in the Vision, People, Data, Issues, Process or Traction Component™. Solving issues at the root (rather than treating symptoms) makes them go away forever.