Having a strong management team is fundamental to the success of any business, but this is often under emphasized. It is so much an easier task to sell products than to set-up a vibrant team. Talk about conceptualization of groundbreaking ideas, securing deals and investments; all of these are mere vocabulary if a motivated management team is not in place.
A business management team will not only oversee tactical daily tasks, it is also within their jurisdiction to provide leadership and strategic directions.
Before you get on with putting a management team together for your business venture and investing in them, it is important to consider these key factors:
1. Background Checks
There is absolutely no alternative to conducting thorough background checks on potential team members. Traditionally, this is achieved by setting up a one-on-one interview with each individual. Also, it is best practice to contact their peers and previous places of employment so as to have a true measure of such individuals.
2. Preliminary Experience
This is a rather obvious factor because a management team with years of experience in the bag will definitely set your business on the apex of competition. A team with zero preliminary experience may find the business sphere unpalatable because every challenge they are faced with will always be handled like an entirely new one, thereby, exposing your business to perils.
A team with prior on-the-job experience will always draw from its wealth of knowledge and experience when tackling problems. However, startup experience is not just enough, individuals with business-specific experience will definitely make a whole lot of difference.
Individuals with complete comprehension of the business environment, nature, and market structure and with track records of significant achievements will be a huge advantage to your business. Of course, you would not want to put an auto-mechanic on a team of doctors. However, this is not to say that there are no people who excel outside of their fields; such talents are rare.
3. Avoid Know-It-Alls
Leaders who fail to credit the efforts of their team members often achieve below par results. Seeking the idea of your team members does not make you weak as a leader rather it demonstrates your strength and ability to manage adequately.
Managers who consider themselves an island of knowledge and thinks they can sort everything out on their own are referred to as despots. Since your business management team will have to liaise with other employees and businesses at one time or the other, it is important to choose a management team made up of individuals who epitomizes excellent team work and not autocrats who just use people at will.
4. Communication Skills
This is an essential tool any management team must possess. A leader must be a good listener and must also speak eloquently and elaborately without ambiguity. Putting together a team of seasoned veterans is particularly good for business, but of what good is it if they lack effective communication within themselves. In a business environment, no one is expected to function in a vacuum.
A lot of times, individuals who only care about listening to themselves are often easily recognized during interviews. Avoid ‘Radio-like’ management team members who will fail to identify the communication needs of other team members/employees. A team must be made of persons who are ready and willing to function as a single entity for a common good.
5. Talent and Adaptability
At the earlier stages of a business life cycle, the individual skills of each management team member will definitely make a significant difference. However, as the business matures, culture and mechanics becomes more important than any individual.
Therefore, having a team with pure talent; a team able to take out multiple fires and put on multiple hats; a team that is adaptable and phenomenal at several things, becomes especially important. This is one important factor to look out for when choosing management team member for your business.
6. Vision and Dedication
Passion and dedication are another key factor to consider. Truthfully speaking, your business might be a startup whose pay is nothing compared to corporate bodies and work might be significantly tedious with lower job security. Under these conditions, only passionate minds can be a part of your team.
Not just individuals who are passionate about your business, but those who share your vision. Vision is what separates surviving businesses. Therefore, it is important to have management team members who see past the next 2-3 months with you.
Businesses stand a better chance of survival and success in the long run if the team members and employees share the vision of the owner and are concerned about the future of the business.
7. Team Integrity
Integrity is not one word for too much definitions. You are able to tell it when you see it and when otherwise. The integrity of an individual can be verified by conducting background checks as earlier mentioned. Supposing your business were to be sales related and an individual desires to be a part of your management team.
After conducting your checks, you discovered that this individual having worked in a related field made purchases from certain companies in the past and failed to fulfill his/her side of the bargain; definitely you will want to have nothing to do with such an individual. A business set for success need not look further than honest and consistent management team members with moral values.
8. No such Team as “I”
Organizational productivity is very much dependent on “Team Philosophy.” as a business owner, you must avoid individuals who denigrate the contribution of others and chorus their own glory. In the long run this will turn out to become a major source of de-motivation for other team members and consequently inhibit the progress of your business. It is therefore of utmost importance to have individuals who embraces and promotes team philosophy.
9. Job Goals
The primary goal of most individuals on a job is what the job can do for them. This an entirely unbalanced mindset. If you perform excellently well at work, promotions and the likes will definitely come.
Business owners on the lookout for a management team should be weary of candidates who only seek self-success rather that doing the job for the job’s sake.
With no iota of doubts, the points discussed above will positively influence your selection and evaluation process and also help to position your business above its competitors.