The Magic of Building a Company.

Build a Great Company.

A Company is built by the right set of people and leaders. The best virtue of a leader is to lead by example. This should trigger a chain reaction within the system where a good team transforms to a great team. The support of the leader should help the team to build self-confidence and motivation, as a result, bring in a positive drive both for themselves and the company to succeed.

Building people is a difficult task from a leadership perspective, for that matter, one of the biggest management challenges. For some leaders, it comes naturally. They’re born people builders, with enough magnetism, optimism, and dynamism to create the personal relationship and build inspiration. It’s important to show people their strengths in what they do every day rather than fixating on their weaknesses.

Constructive Feedback is the other trick and seeking permission to give a feedback is the icing on top of the cake. When it becomes necessary to suggest improvements, just be sure to phrase the feedback constructively to prevent defensiveness. Just this simple reframing technique helps in translating a potential negative energy into a positive one. Balancing the right mix of praise and constructive criticism is the best way for leaders to build awesome people.

Appreciation is the next effective technique. When you can demonstrate that you recognize your people’s accomplishments, it can be a power tool to engage your people and yield better dividends than just raises and bonuses. I remember reading somewhere research by the U.S. Army confirms that in order to accept and grow from criticism people need eight praises for every constructive criticism. The majority of people quit jobs primarily due to lack of appreciation for their contributions rather than anything else.

The Scott Roy Formula

I was intrigued after reading through the transformational formula developed by Scott Roy:

race

Results = Attitude + Competence + Execution

Attitude is the foundation of great performance and the capacity to learn and change.  People who learn to maintain the right mindset – no matter what happens – have a huge advantage over those who can’t do this.  People can actually learn to:

  • notice when their state of mind is slipping and then return to peak performance in a matter of seconds.
  • let go of habits that impede performance and discover – naturally and quickly – more effective behaviors.

Competence involves learning the art and science of what we call DQ Sales – a way of selling dedicated to the development of your customer’s decision intelligence.  This earns their trust and equips them to make the best possible buying decision for their company.  Sellers need to learn:

  • a framework for selling to their customers – a set of steps through which they will take their customers, steps that first increase awareness of the problems to be solved and second the solution to those problems.
  • a way of leading customers through these steps that makes every conversation count, that speeds up the entire process, and that ends in one of two ways: qualifying the customer out or closing the sale.

Execution is the art of right effort; staying on track instead of just staying busy.  Salespeople and sales managers both need to master:

  • aiming themselves at the exact activities that will deliver sales.
  • tracking this activity in a way that others in the company know what they are doing and leave them alone to do it.
  • learning from everything that happens – good and bad – in a way that avoids complaining, blaming, and wasting time. That leaves more time to talk to customers!

Courtesy – http://wrpartnership.com/

Qualities of Leader.

Bring in Clarity – Vision & Mission

The ability to break down the problems to bring in utmost clarity and able to showcase the practical mission to ensure every single member is motivated to give his best!

Servant Leadership – Rolling up your sleeve & getting your hands dirty

You don’t want to build a company with a bunch of order takers. When the big problem ever hits, it’s the responsibility of the leader to roll up his sleeve and show how things are done. That’s when you earn respect from every member of your team.

It’s OK to fail – Concept

It’s the leader’s responsibility to build the confidence in the team that it’s completely OK to fail. This allows the members to start being innovative and adopts an “attitude vs aptitude” mindset and think out of the box. Building a culture where people are motivated to take the risk will take the game up to the next level.

Empowerment

It’s very important to trust each of the team members and provide them with adequate power to execute their ideas. Reminding them the fact from the movie; Spiderman – “With Great Power Comes Great Responsibility”

People Development

There is a constant global change in every aspect of every business. The wisest investment for a company to grow allows the people within the system to constantly upgrade themselves by means of training. This should be done to ensure everyone is caught up with the latest trends in the industry.

Walk out of your role.

A leader commands respect when he can walk out of his role. It’s never about creating an individual dependent process rather using the art of delegation to ensure the process gets automated to run on it own without even an individual’s presence.

 

Fostering a Culture of Ownership

Accountability vs. Ownership.

Something assigned or given is Accountability. You can assign and instruct a team member to get a job done or accomplish certain goals. But in this situation the ownership has still not passed onto that respective individual but lies with you. You just having to tell your team member what you want, define success parameters and the metrics to measure success – these all accumulate to accountability.

Whereas, the beauty about Ownership is neither can it be assigned nor appointed, it can just be taken up by an individual. For a successful company, you would want to have people who will come up to you and say I will get the shit done. He/ she decides the plan, measurement, progress and accomplishment

The funny fact about people who take accountability is that they never come up with problems – most of the time, they won’t ask for any help nor raise issues vs. owners will always raise issues, seek help and admit to failures and this can make things move toward a positive direction.

The Desire to Succeed.

When you are a small company it’s natural that you would want to have more and more people who take up the accountability and as a business owner we land up micromanaging them but this can spell disaster as the company starts scaling up. For most of us business owners, it would not be possible for us to be involved in very task, process or decision making.

Fostering the culture of ownership will help you to focus your thoughts elsewhere as you know that there are best people allocated with ownership who are driven by their own desire to succeed

Communication.

Over communication is always better than under communication and it should be effective communication. Many times primary owners tend to direct during communication rather than influencing, but the latter is the key.

Assuming a company’s leader does not know how coding is done but they understand the desired outcome that needs to be achieved. The primary owner (Boss) can say “I want this to be done, what do you need to get it done?” The engineering team can build up and comes up with their ideas, project plan and metrics and the job of the leader is to align the vision towards the outcome. In case I am not aware of the “head to toe” of coding, it’s important to admit this and spend time with the person who has been allocated the ownership and try to work together to get the task done. Maybe let the best engineer do the coding while you break down the task to better influence the outcome.

Whom to hire.

Most of the time your first team members often grow into key leadership roles, so you are in charge to make a definitive choice about what kind of company and culture you would like to foster. Hiring people who can take ownership is a better bet! This will build a company where all your people are engaged and thrive because of the autonomy and independence. I support the earlier because hiring people where you have to assign accountability, it will land up building a company where leaders implement their ideas by enforcing processes and procedures and the blame game of the decision is still you.

People with clear ownership care a lot more when they feel something is theirs: their idea, processes, and responsibility. They care the most when they feel you depend on them and have given the authority to make important decisions and do what’s right.

A magnetic leader should challenge their employees, give them freedom and authority to work the way they work best. Every individual has their unique skills, talents and experiences and the job is well done once you are able to build in them “yours” into “ours”.

“ Hire people with ownership mindset VS accountability mindset”

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