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Team building for Successful Ventures

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Team building for Successful Ventures

  1. 1. Build & Operate Your Successful TEAM Hani A. Tarabichi
  2. 2. Agenda Defining the TEAM  The value of the Team in today’s business  Keys of building a successful Team  Golden Rules  Hani A. Tarabichi
  3. 3. What is a team? Hani A. Tarabichi
  4. 4.  It has been said that: “ Three is a crowd” But, with a good management they can become a “ TEAM!” Hani A. Tarabichi
  5. 5. How to build a team? How to build a Successful Team?   Hani A. Tarabichi
  6. 6. Advantages of TEAMS Team Improve Your Skills More talent, Expertise and Technical competence Communication Participation Effectiveness More ideas Mutual respect Boost moral “Buy in” to changes Job satisfaction Solutions more Likely to be Implemented Process ownership Hani A. Tarabichi
  7. 7. Name: What Can A Team of Entrepreneurs Really Do? Ticker: Founded: Market Cap:(USD) Google, Inc. NASDAQ: GOOG 1998 $102 Billion Employees:(full time) 5680 General Motors NYSE: GM 1908 $12.24 Billion 327,000 As of March 21, 2006 Eight year old venture backed Google, which entered what appeared to be a very crowded space, currently has 8 times the market capitalization of 100 year old global industrial giant General Motors! Hani A. Tarabichi
  8. 8. Team Forming Stages 1- Forming 4- 2-Storming Performing 3- Hani A. Tarabichi Norming
  9. 9. Assembling a Winning Team      The process is intense It takes time Finding the right people can be a challenge Make sure you are all in it for the same reasons Consider efficacy of any new additions to the team Hani A. Tarabichi
  10. 10. Areas to Explore with your Team     Individual goals Commitment to the business Personal considerations What will keep the team going?   What will pull the plug (no funds?) If goals differ, how will the conflict be resolved Hani A. Tarabichi
  11. 11. Effective Teams       Have clear goals and objectives Share responsibility Measure their progress towards the goals Have the necessary skills (technical, problem solving, and interpersonal) Have the resources needed for the job Have agreed ground rules for working together Hani A. Tarabichi
  12. 12. Effective Teams:      Have allocated appropriate roles for each member Support each other by listening, responding constructively and helpfully Recognize individual and team success Handle conflict constructively and openly Share leadership Hani A. Tarabichi
  13. 13. The 4 Pillars to Build a Successful TEAM  1. Common Purpose, and Shared Values & Goals  2. Development of Skills  3. Synergetic Harmony  4. Keeping the Accent on the Positive Hani A. Tarabichi
  14. 14. Pillar # 1  Common Purpose and Shared Values & Goals  Create a challenge, a reason for being that motivates people to work together  Set clear goals & strategies BOTH for individual and the team  Be clear on your values  Create a team charter that clearly states what the team wants to accomplish, and how the team will work to achieve results Hani A. Tarabichi
  15. 15. Worthwhile Work  Knowing we make the world a better place It’s how the work helps others, not the units dealt with  Everyone works toward a shared goal People support best that which they helped create  Values guide all plans, decisions & actions Values become real only when you demonstrate them in the way you act and the way you insist others behave. Hani A. Tarabichi
  16. 16. MEGALOMANIA  No one is indispensable Hani A. Tarabichi
  17. 17. Pillar # 2  Development of skills    Start with the basics. Build individual skills that will bolster team skills Provide FEEDBACK to build skills, confidence, and accountability Learn each other’s roles Hani A. Tarabichi
  18. 18. Pillar # 3  Synergetic Harmony     NONE OF US IS AS SMART AS ALL OF US Share leadership Rotate position to build flexibility Turn individual skills into team skills Hani A. Tarabichi
  19. 19. In control of achieving the goal  Playing field with clearly marked territory When in command take charge  Thoughts, feelings, needs, and dreams are respected, listened to, and acted upon. it’s tough to be boss without being bossy  Able but challenging No pain no gain  Hani A. Tarabichi
  20. 20. Pillar # 4  Keeping the accent on the positive     REPEATED REWARD & RECOGNITION Look for behaviors that reflect the purpose and values of the team work, and REWARD them Catch people doing things right or approximately right Redirect toward the goal; do not punish Hani A. Tarabichi
  21. 21. Cheering each others on   Active or passive, congratulations must be TRUE = Timely, Responsive, Unconditional, Enthusiastic No score, no game, and cheer the progress Police behavior Vs Coach behavior  E = mc2 Enthusiasm equals mission times cash & congratulations Hani A. Tarabichi
  22. 22. The better (more effective) congratulations  Programmed   Spontaneous  Blanket   Individual  General   Specific  Traditional   Unique Hani A. Tarabichi
  23. 23. PERFORM        P= Purpose E= Empowerment R= Relationship F= Flexibility O= Optimal Performance R= Recognition M= Morale Hani A. Tarabichi
  24. 24. BE AWARE!!!   Organizations can get SO focused on beautiful processes that they forget what they’re really supposed to be doing Getting it right starts to get in the way of getting it done Prepared for SYEA Ventures4/3/2008
  25. 25. The Golden Rules 1. The Pride RULE: You have to be proud of the GOAL & HOW you get there 2. The self-confidence RULE: When in command take charge 3. The 10 words RULE: None of us is as smart as all of us 4. The triple R RULE: Repeated Reward & Recognition Prepared for SYEA Ventures4/3/2008
  26. 26. Teams fail because of:       Unclear goals and objectives Non-measurable goals Ill-defined responsibilities Inappropriate members Lack of training in team-working and problem-solving Inappropriate Leadership style and behaviors Prepared for SYEA Ventures4/3/2008
  27. 27. Teams fail because of:     Ineffective meetings Functional resistance and politics Individualism or individual creativity Failure to disband a team once it has served its purpose Hani A. Tarabichi
  28. 28. Useful formulas  Team = Communication + Participation  Motivation = Challenge + Cooperation  System = Vision + Integrity + Training  No participation = no commitment Hani A. Tarabichi
  29. 29. Useful formulas    Short term gains = long term pains If you don’t serve your customer, someone else will Consistency in quality of communication is a must Hani A. Tarabichi
  30. 30. Finally   Please remember that there is no “ I” in TEAM None of us is as smart as all of us Hani A. Tarabichi
  31. 31. TEAM Together Everyone Achieves More Hani A. Tarabichi =

Notas del editor

  • You have to believe in what you can accomplish. No one is going to motivate you more than yourself, and the type of people you want are those that share your passion. Indeed, passion is the number one critical success factor of any entrepreneur.
  • When you start the process of assembling your winning team, do not take the exercise lightly. It is intense, and even after you have identified potential candidates, make sure that they are all in it for the same reason and have the same commitment level. If there is a misalignment, your team will suffer later.
  • The first thing you should do is sit down and explore with one another their individual goals.
    Discuss very seriously their individual and collective commitment to the business and specify a time horizon within your discussion so everyone can be confident that you can properly qualify the other’s statements of commitment.
    Consider discussing the conditions that you will face and what might cause you to pull the plug, individually or as a team. If you do uncover differing goals, talk about how you will resolve those conflicts so everyone has shared expectations of the future.