Building the perfect team starts with you
Sieg Holle BS MBA
(Jan 2006) You can't do everything well. Actually, I'd go one further than that: there are a lot of things you shouldn't even think of doing yourself! I've met and consulted with many of the country's top-performing business advisors, and if they share one trait in common, it's this: they choose to focus only on those activities that make them the most successful, the most productive, and the most motivated. They delegate everything else, and that is part of the reason for their success.
Of course, it took time for these top performers to realize they couldn't reasonably do everything in their practices. Then they had to think a good deal about how they were going to give up control of various tasks and duties without eroding brand integrity. In many cases, this was the single most difficult challenge they had to overcome on their way to the top of their profession. Then they had to find the right people to give those responsibilities to. All of this took time, a good deal of strategy, and a multitude of teams. But make no mistake. The results have far surpassed their wildest expectations.
Let's assume that you share something in common with these top performers: you see big opportunities for your business practice. To capture these opportunities, you've come to realize that you need to give up control over certain tasks in order for you to take advantage of these opportunities. Do you see yourself assembling a team that will not only get the job done, but will get it done so well that existing clients and customers will never think of leaving, and new clients will be beating down your door to meet with you?
How are you going to do it? How do you find the right people? How can you determine whether these people have the "right stuff" that will take your business to the next level? What can you do to get them up to speed on how you intend to build your business?
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All of these are good questions. And all of them can be answered by thinking of team building as a strategic process, rather than something that just "happens." At the centre of this process is an understanding that a top performing team is comprised of three components, or "sub-teams."
(a) The Team Director or leader: The visionary leader who ensures all elements of the team are working together according to plan, and motivates team members to continually further business goals;
(b) The strategy team: Helps the Team Director set appropriate short-term and long-term business goals and formulate the core team;
(c) The core team: Individuals who excel at their specific tasks necessary for the business to accomplish its goals, yet can work together to achieve the Team Director's vision.
With this concept in mind, you can see team building is more than simply matching an individual to a job description. Rather, it's a systematic search for appropriate people who can competently help you through a new phase of growth.
Let's take a look at each of these sub-teams, in order to better understand their roles and how they work together. Keep in mind that while large, established business have a single person filling each of these roles, it's entirely possible that one or two people may wear several hats in any of these sub-teams (in fact, that's how most business people start out in the business).
The Team Director- Team leader
This is the leader of the business, and the most important member of the team-in other words, you. A team cannot function properly if they don't understand the vision for the business. They can't support you if they don't know your style and approach. As team leader, this is your primary responsibility-to align your team with your process and your business vision in order to achieve your business goals. If for whatever reason you feel you lack the skills to successfully communicate a business vision to team members, you must find a partner who has these skills.
The Strategy Team of advisors
Once you've clarified your role as Team Director, you need to establish a Strategy Team (I've heard some consultants refer to this group as the "growth team"). The strategy team is the group that directs big-picture business strategy, identifying business-building opportunities and defining long-term growth goals. This is the team that steers the business toward its success, helping you to assemble the ideal team which will take you where you want to go. It also monitors your progress towards those goals on a regular basis.
In addition to you, the Strategy Team can include one or all of the following:
Business coach: A like-minded, experienced expert who understands the operating challenges of the business, and can help capitalize on new opportunities
Professionals: HR professionals, business consultants, etc., who bring upper-level strategy and thinking to specific business challenges
Branch manager: A guide to help you utilize the firm's strategic and marketing resources to build your business
Peers and mentors: A set of business owners and entrepreneurs from both inside and outside the financial industry
Marketing associate: Your internal marketing expert, who has a natural "knack" for co-ordinating and systemizing marketing efforts
Industry wholesalers: Select outside of company representatives who have demonstrated themselves as an excellent resource for strategic marketing and business-building ideas
Client focus group: A small group of trusted clients who can give you honest, objective feedback on what you're doing right and what needs improvement
The Core TeamThese are the people who get the job done day in and day out. While the strategy team deals with higher-level strategy, your core team delivers management and client service systems. In addition to you, the common positions are:
Business manager: Who ensures business processes and systems are running smoothly and who handles day-to-day issues with team members
Executive assistant: A versatile, detail-oriented assistant who can keep the team leader organized and ensures that all constituencies follow procedures
Junior advisors: These are your advisors-in-training; junior staff members who show promise and can be molded in your image
Associate advisors: Well-trained and qualified advisors who handle specific areas of your business , and may have a small group of their own clients
General administration assistant: Who deal with paperwork, general client requests, and general office duties
Professional centres of influence (COIs): Accountants, lawyers, private bankers, and other professionals who can function as "partners" on specific client accounts
In-house specialists: brand managers, and other experts who perform specific tasks for your clients
Marketing associate: A key position which executes day-to-day marketing tasks and long-range marketing projects (co-ordinating the client newsletter, setting up media appointments, booking seminars, etc.)
Marketing writer/designer: Outside brand-building and positioning experts who can help you attract ideal clients and distinguish yourself from the competition
Vendors: Printers, caterers, vendors, gifting-experts, and other companies who you can count on to support your client service process and deliver world-class service to your top clients
At first glance, this list seems a bit daunting. But what's even more daunting is the prospect of doing all of this yourself. If you can't find a way to delegate these tasks, that's exactly what you'll be doing.
Keep in mind that top performers all face the same issues that you do — including the harvesting of big opportunities. And they all found a way to get there. Top performers recognize that becoming the Team Director is the secret to success: they treat team building as a strategic process, one that demands serious planning, a multitude of teams, and a good deal of time investment and commitment .
(12/19/05)
Sieg Holle is the creator of the Earn-it program group, an organization that helps individuals build world-class, global marketing practices through innovative concepts, tools, and systems since 1989. Contact holcrest@worldchat.com or 1-519-754-0018 for more information about building your wealth through innovative business strategies.
