When it comes to delegation or transitioning decision-making to the next level of management, it can be difficult for business owners to let go or know where to start. The dynamics of a top executive team can make or break a company. John Maxwell said, “Teamwork makes the dream work, but vision becomes a nightmare when the leader has a big dream and a bad team.” Often, teams consist of opinionated leaders who represent perspectives, vie for influence, and fight over the allocation of resources.
So, how do CEOs avoid this and put together great teams?
- Solve for the team’s psychology (mindset).
- Team composition (there is no I in team).
- Teamwork Practice (“talent wins games; teamwork and intelligence win championships”).
The best CEOs don’t start with thinking about what the team does together, they think more about how the team works together. This focus on how the team works together brings to the forefront factors such as team composition, effectiveness, and operating rhythm. These CEOs look for leaders who aren’t interested in just being all-stars, but also have the skills to build all-star teams.
The quote for #3 above comes from Michael Jordan. The 1992 Olympics U.S. men’s basketball team had some of the greatest basketball players in history. However, a little-known fact is that prior to the Olympics, they scrimmaged against a group of college players and lost by 8 points. “We got killed. We’re out of sync, we have no continuity,” said one Dream Team member. “We didn’t know how to play with each other,” said another. Chuck Daly was the head coach of the Dream Team. He was chosen for his ability to manage personalities and egos and decided not to make any of the in-game adjustments needed as the game went on. This psychological wakeup call was what the team needed. Any arrogance or complacency was replaced by teamwork and hunger.
To promote ever-increasing levels of teamwork, the best CEOs focus teams in four areas that most leave to others:
- They ensure that their team’s time is focused on the work that only it can do together.
- They’re serious about the team being every member’s top priority.
- Decision making is focused on the triangle formed by data, dialogue, and speed.
- Invest regularly in team building, often using a facilitator or team coach to ensure rapid progress.
As with anything, leadership starts with mindset first, then skill set. Focus on these 4 items and you’re well on your way to maximizing the value of your business. Don’t settle for mediocrity. Start today!
