How to build and lead an effective executive team
People are your most valuable resource - a cliché perhaps, but true. To achieve what you want for your organisation, you will need to surround yourself at the top level with the best people - an effective management or executive team. The bonus is that having a good team is a very smart way of enhancing your own abilities. Here are a few ideas on how to assemble that team - then lead it…
1. Develop an inner circle.
Whatever your management situation, you need a trusted inner circle of colleagues; not people who always agree with you, but people who really contribute to the process and the end result. Smaller groups, often established on an ad hoc basis, are usually more productive than larger ones; entry to, or exit from, such groups depends on a person’s talents, performance, and the specific task.
2. Select the best people.
For an executive team to be effective, you will need people who:
- can get things done
- have leadership qualities
- are able to create useful ideas
- analyse problems effectively
- are good at oral and written communication
- have technical expertise
- can control the work flow
- can think and evaluate logically.
Select or build a team with compensating strengths and weak-nesses. If you inherit an existing team, reshuffle or reinforce it as required.
3. Stress the importance of the team’s decision-making role.
People are often reluctant to make tough decisions; it’s easy to postpone difficult decisions to another meeting. So when you assemble your executive group, see this as a major challenge. Set targets and make decisions - and don’t let yourself be talked into extending deadlines. Your determination will gain the support of members tired of attending endless meetings that transfer agenda items to other occasions.
4. Keep it simple.
The old ‘KISS’ principle (Keep It Simple, Stupid) has been overdone, but simplicity is a key to achievement. Look critically at your decisions and their planned implementation. If the required actions are not straight-forward, complications often result, and additional work will be required.
5. Set goals that challenge.
Think in terms of S-T-R-E-T-C-H goals. Setting minimum standards for an executive team results only in that minimum becoming the accepted maximum. Hold your colleagues accountable for achieving those stretch goals. If people are to be recognised for their performances, often in the form of bonuses, make sure they earn that recognition.
6. Maintain focus.
Remember the old saying, ‘What you focus on, grows.’ Once you have agreed on any action goals, stick with them until they have been achieved. Resist adding new ones until you have succeeded with the existing ones. Too many goals reduce the focus and stifle real achievement.
7. Insist on value for time and energy.
If you’re having a meeting, insist on results - especially action in the form of decisions. Meetings are important, but every meeting does not have to involve onlookers or passengers. Only those who can contribute should be involved.
8. Focus on the can-doers.
Quality people are sometimes hidden in organisations. Often such people may have chosen to avoid the game-playing and corporate politics. You can’t afford not to identify, involve, and encourage them. At the same time, rid your team of the excuse- makers and the 'we’ve always done it this way-ers'. Surround yourself with those who can agree on what has to be done - then do it.
9. Think 55.
The Rule of 55 states that, ‘fifty per cent of an organisation’s products usually produce only 5 per cent of its revenue and profits’. This means that half of your business represents only 5 per cent of your profitability! The challenge for you and your executive team is to identify that underperform-ing 50 per cent and apply the strategy made famous by Jack Welch, when the CEO at General Electric— find ways to fix your underperforming areas, sell them, or close them down.
10. And remember...
- Executive team members must be very familiar with your organisation's goals and priorities.
- Members must know what is expected of them and what their responsibilities are in implementing team decisions.
- Members should be able to influence team decisions appropriately.
- Discussion is encouraged regardless of how critical it may be; views that differ are not taken as indications of a disloyal or uncooperative colleague.
- Members must be able to express ideas so that others clearly understand their intent.
- Members share equitably in the workload of the team.
- Members are able to present team decisions to client groups in a manner that generates understanding and support for implementation.
