How do you keep a long running programme like Dragons’ Den fresh? The new series of the tv reality show currently on our screens has been running for an amazing 20 years. During that time over 20 Dragons have passed through the Den.
To refresh the series BBC executives have brought in new talent to complement the stalwarts of Peter Jones, Deborah Meaden and Touker Suleyman together with the more recent Dragons Steven Bartlett and Sara Davies. So, cosmetics tycoon Trinny Woodall and the Body Coach, Joe Wicks, are joining the Dragons to refresh the format and provide their take on the business pitches brought into the Den.
According to the global business media company Forbes most leaders in today’s workplace would like a fresh start. Struggling with multiple demands placed upon them, they are under ever greater pressure to perform. Refreshing their top or executive team is one option open to CEOs who want to ensure their business continues to flourish. But it comes with risks and requires every business leader to ask themselves some tough questions. Does your business have the best people to lead in today’s uncertain times? And do they have the right attitude, executive experience and mental strength to grow the business?
Good team dynamics are essential for any business to thrive but are especially important in SMEs where the potential to restructure or bring in new talent is often limited. Refreshing any leadership team begins with evaluating their performance and determining where they could do better or most need to improve. But it also means taking stock of where senior managers are doing well and acknowledging this while challenging them to do even better.
Here are 5 tips for helping to create a top performing team.
1. Find out what your top team is missing
The most effective senior managers know what is required of them for the business to develop and grow. Signs your top or executive team may need refreshing include when the business starts to stall, or you see lower growth than your competitors. If this happens, you need to identify where the gaps are in your top team. Senior managers may not be engaging enough with all their staff to really know what is happening in every part of the business. Or they may simply not have the skills or experience to provide what’s missing to take the business to the next level.
2. Review your business plan in relation to your staff
Review your top or executive team by considering the needs of the business in the context of your most valuable asset, your staff as well as your profits. Are you recruiting the best people to senior positions? Do your managers really value and develop their staff? Do they take training and career progression seriously? Outside of work do your staff speak highly about your business or do they denigrate it?
3. Ensure your top team is really pulling together
One way to refresh your top team is to evaluate their behaviours against the values of your business. Are they doing their best for the people they are managing as well as your clients, suppliers and customers. Bring in an external management consultant to assess the team dynamics and then identify the areas where your senior management team is weak. If you cannot fill these gaps from within your business, consider restructuring or bringing in new talent.
4. Create a top team committed to learning and development
Your top team must be committed to continually learning and improving if the business is to flourish. Organise training providers, allocate time to go on training courses or find mentors from outside of your organization to coach and develop senior team members so they can grow the business. Question any team members who have ‘seen it all before’, are cynical about change or who go along with new ideas without being really committed.
5. Define the characteristics of a top performing team
Ensure your senior executives know the characteristics of top performing teams including:
- Clear purpose: The team should have a challenging but achievable purpose that grows the business
- Mutual trust: Team members should trust each other. Those that do are less likely to question each other’s motives or compete
- Clear communication: Team members must communicate clearly, transparently, and empathetically
- Results-oriented: Team members should be driven to exceed expectations
- Disciplined processes: Team members should have clear procedures for working together and making decisions
- Accountability: Team members must hold themselves and others accountable for their commitments
- Risk taking culture: Team members should feel safe expressing themselves and taking business risks
- Diverse perspectives: Team members should bring different perspectives to the top table and be encouraged to debate
- Good time management: Team members must use their time well and prioritize the needs of the business above their own areas of expertise
In todays constantly changing business climate, having a high performing team at the top is essential for any business to grow. Supporting senior managers is one of the topics covered in BCU’s Help to Grow management course.
