Building a successful team will not only help you run your organization more smoothly and efficiently, it also helps you focus more on important things to make the business more profitable and sustainable in the future.
One the biggest mistakes any leader can make is not playing to the strengths and weaknesses of their team. This will not only impact the business performance, but also the success of the business in the long run.
Bestselling author Anthony Scarramucci reveals some of the secrets to building a successful team in his new book, Hopping over the Rabbit Hole: How Entrepreneurs Turn Failure into Success. In the extract below, he explains how it can be crucial to your business.
The secret to building a strong management team is finding people who are more talented than you.
Hire them, share your vision, and let them do their thing. The same philosophy should apply at every level of an organization. As Malcolm Forbes once said, “Never hire someone who knows less than you do about what he’s hired to do.” In other words, every manager should hire people who are smarter than they are.
There is no room for insecurity in the workplace.
When people are worried about being one-upped, it leads to a toxic, highly political environment.
People are more focused on undercutting their bosses or colleagues than they were about doing their jobs. It’s important to establish a team-first mentality so that every individual in your organization feels the empowerment of an entrepreneur.
Attitude is everything.
Warren Buffett said it best: “Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. If you think about it, it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.”
Jack Welch used to say General Electric was a bunch of small start-ups. He famously said, “If you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it, you almost don’t have to manage them.” In other words, he understood the power of avoiding the bottleneck, of putting your people in the best possible position to succeed and then getting out of the way. He let people do their jobs, and because of that he was able to be great at his.
To learn more about Scarramucci’s new book, click here.