When building business, the difference between profit and loss is: people, systems and models. Evolution occurs when you surround yourself with the best people. Efficiency improves when you prioritize systems. Buy-in and vision materializes when the models are perfected and activities are executed.
I went to dinner with one of my great friends the other night. She reports to the CEO of one of the Fortune 100. She had some great advice for all of us in the business world. No matter what company you work for, large or small, everyone is still trying to figure out the best path to achieve the greatest results.
"Trying to figure out..." A Fortune 100 company is still trying to figure it out? I thought about my successes as failures as a business owner. As much as I do not have an answer for everything, neither do they. What a huge A-HA! It's good to know we're both throwing spaghetti at the wall together.
If we can all agree that people, systems and models are the most important pieces to assemble, then why is it such a battle trying to 'figure it out'? Sounds like we have it pretty figured out right now, correct?
The answer lies in establishing core competencies for your organization. Start with people, yes, but within that, create a working list of who these people need to be and what specializations you're looking to hire. From there, the systems and models can take shape because you've brought on the right talent for the jobs. These are called Core Competencies.
Core Competencies will vary based on the position. There are commonalities that must exist for consistency within your organization. Based on my experience, whether we are talking about my real estate firm, LiveTeamLife, or the music business, there are
7 abilities that my teams focus on.
1. Ability to work in a team environment, take accountability for your spoke on the wheel, and execute results.
2. Ability to sell and be influential with others
3. Ability to plan, prioritize your top 20%, make decisions, and come with solutions when challenges arise
4. Ability to communicate effectively internally as well as externally
5. Ability to learn as well as teach
6. Willingness to understand the big picture and how that breaks down into the day to day critical activities to drive results.
7. Ability to understand the technical programs/back end systems that lead to maximum efficiency.
If you're being considered for a position at our organization, these competencies must be met. As a new hire, you're immediately an important spoke on the wheel of our systems and models. Efficiency, growth, development and profitability are goals of nearly every organization, including ours and we know goals are easy to achieve when the right brains are working on them. Fill your seats with competent people and everything else gets much easier.
Next week, look for the 10 core competencies people must have to be successful on my teams!