4 Steps to Building A Successful Executive Team by:Nancy Schill
The solution is so simple - hire the right executives! Great; how do you do that
? Everyone has heard horror stories. John Doe, president of ABC Technology Solutions, hires highly credentialed, recommended, and well presenting Bob Starkey as CEO, who is going to grow the company and take it to the next level. And, here is a real life example of an outcome that is too common: despite everything going really well several months into Bobs role as CEO, with new clients and engaged employees it is all actually a delusion. Within twelve months, the company is almost bankrupt, the CEO has to be fired, and there is a major staff turnover.The wrong executive can wreak havoc on your business and cost you several times the salary you were paying them. The path to a successful executive team involves 4 steps for hiring the right leaders and setting the stage for success:
1. Articulate a compelling purpose for the position, one that is clearly defined and meets the values and vision of the organization. It will drive your efforts in the right direction.
2. Make sure that each position and that each person youre considering will leave the other people in your company feeling stronger and more confident. If this executive is not supporting the employees you have, youve just created more work for yourself and are jeopardizing productivity and the company culture.
3. Identify detailed, thorough criteria of the right person including professional, technical and psychological qualities. If you dont know exactly who the right executive is, you wont know precisely which characteristics to target or be able to find her or him.
4. Outline the tools and processes which all the executives (including yourself) will be using and then cultivate them with strategies of effective senior teams. It will lay the foundation and be your path to walk the walk of success for your company.
While the solution is simple, hiring the right executive for your company is not something you should do alone. If your executive coach has training in team dynamics, assessments, and can assist you with processes and screenings, this person is your ideal choice to partner with in your search for the right executives.
Along with expertise, they are likely to have some of the most intimate knowledge of you and your company including your vision and the needs of the company. Another trusted advisor could be the next place to look for support in this endeavor.
Remember, though, diligence in the roll-out is just as important as good decision-making!
To prepare for and lay the foundation for success of the new executive, clearly identify: your vision for the organization; how you will evaluate their effectiveness; and the principles and strategies you will use to solve problems.
Vision: For each position, list the major goals that directly contribute to the companys vision. The executives buy-in of the goals is critical to their achievement.
Progress Monitoring: List the metrics of successful benchmarks under each goal and set periodic review meetings. It is important to adjust strategies within reasonable time frames.
Approach to problem-solving: Problems are inevitable. To circumvent major consequences, avoid making assumptions, be honest and candid with the executive, and participate in training and development.
About the author
Nancy Schill is the Founder and Executive Coach of Executive Intelligent Coaching - www.executiveintelligentcoaching.com. For more than 10 years Nancy has been helping individuals and teams identify their strengths and growth opportunities and then work to close the gap between where they are and the vision of success. Nancy creates synergy in the workplace for her clients through executive coaching and strategic team building. strategic team building. She is also basking in her journey of motherhood and continues to make time to enjoy her horse, cats, and other passions. She works closely with her associates and friends in Bootstrap Network, an open-source community for entrepreneurs and collaborates with other entrepreneurs she has met over the last few years. Nancy regularly writes a newsletter, conducts presentations and workshops, and is a featured writer for Austin Business District magazine. She continues to embark on new creative processes, programs or tools to support her clients in achieving greater satisfaction and success and to support businesses and their constituency. 4 Steps To Unbeatable Advertising And Still Keep Money In You 4 Steps To Unbeatable Advertising And Still Keep Money In Yo 4 Steps To Stop Procrastination Cold On Its feet 4 Small Project Mistakes To Avoid 4 Simple PPV Marketing Tips To Boost Your Business 4 Secret Strategies Of A Successful Joint Venture 4 Reasons most small businesses never take off 4 Reasons A Merchant Cash Advance Is The Wiser Option For Working Capital 4 Real Secrets Formulas To Maintaining a Best Online Money Making Business 4 Real Secrets Formulas To Maintaining A Best Online Money Making Business 4 Quick Start Inventory Ordering Tips When you Open a Dollar Store by:Bob Hamilton 4 Places Where You Can Sell Your Gold For Cash 4 Pitfalls To Avoid In Cheap Business Cards