Steven Bartlett, a social media entrepreneur and angel investor, recently shared his top five tips for building a winning team. Here are the key takeaways from his talk:
1. Implement the right culture early on: Bartlett believes that the job of a CEO or founder is to assemble the best group of people and bind them with a strong culture. The first 10 people in the organization are crucial, as they will have a significant impact on the company’s culture. Bartlett emphasizes the importance of creating a clear company culture from the beginning, as it becomes more difficult to change or undo it as the company grows.
2. Know when to get out of the way: Different stages of a business require different types of individuals. In the early cult stage, you need people who are fully committed. However, as the company grows, more experienced heads are needed. Bartlett encourages founders to be willing to step aside and appoint a CEO with the necessary experience when the time is right.
3. Avoid conflict through open communication: Bartlett highlights the importance of communication in avoiding conflict within a team. Having systems in place for frequent and reliable communication is crucial. He also suggests implementing feedback channels similar to the Kaizen philosophy, allowing everyone, regardless of their position, to provide constructive feedback and actively participate in the process of continual improvement.
4. Don’t be scared to fire at the right time: Bartlett admits that hiring mistakes happen, but the key is addressing them quickly. He emphasizes the importance of cultural fit and suggests that the first reason to let someone go should be a cultural violation rather than a lack of skills. Delaying the decision to let go of someone who doesn’t fit the company culture can have negative impacts on team morale and overall performance.
5. Build a supportive community: Bartlett believes that a supportive community is essential for retaining employees and getting the best out of individuals. He suggests creating subcultures within teams to foster a sense of community and reduce stress levels. Offering additional support services, such as in-house therapy sessions, can also contribute to a supportive environment.
By implementing these tips, entrepreneurs and CEOs can build strong teams and create a positive company culture that fosters success.