team building for successful ventures
DESCRIPTION
Building and operating a successful venture team.TRANSCRIPT
Hani A. TarabichiHani A. Tarabichi
Build & OperateBuild & OperateYour Your SuccessfulSuccessful
TEAMTEAM
AgendaAgenda
Defining the TEAMDefining the TEAM The value of the Team in today’s The value of the Team in today’s
businessbusiness Keys of building a successful TeamKeys of building a successful Team Golden RulesGolden Rules
Hani A. TarabichiHani A. Tarabichi
What is a team?What is a team?
Hani A. TarabichiHani A. Tarabichi
It has been said that:It has been said that:
““Three is a crowd”Three is a crowd”But, with a good management they But, with a good management they
can become a can become a
““TEAM!”TEAM!”
Hani A. TarabichiHani A. Tarabichi
How to build a team?How to build a team? How to build a How to build a SuccessfulSuccessful Team? Team?
Hani A. TarabichiHani A. Tarabichi
Advantages of TEAMSAdvantages of TEAMS
Team Improve Your
Skills Communication Participation
More talent, Expertise and
Technicalcompetence
More ideasMutual respect
Boost moral“Buy in” to changes
Job satisfaction
Effectiveness
Solutions moreLikely to beImplemented
Process ownership
Hani A. TarabichiHani A. Tarabichi
What Can A Team of What Can A Team of Entrepreneurs Really Do?Entrepreneurs Really Do?
Name:Name:
Ticker:Ticker:
Founded:Founded:
Google, Inc.Google, Inc.
NASDAQ: NASDAQ: GOOGGOOG
19981998
General General MotorsMotors
NYSE: GMNYSE: GM
19081908
Market Cap:(USD)Market Cap:(USD)
Employees:(full Employees:(full time)time)
$102 Billion$102 Billion
56805680$12.24 $12.24 BillionBillion
327,000327,000Eight 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!
As of March 21, 2006
Hani A. TarabichiHani A. Tarabichi
Team Forming StagesTeam Forming Stages
4- Performing
2-Storming
1- Forming
3- Norming
Hani A. TarabichiHani A. Tarabichi
Assembling a Winning TeamAssembling a Winning Team
The process is intenseThe process is intense It takes timeIt takes time Finding the right people can be a challengeFinding the right people can be a challenge Make sure you are all in it for the same Make sure you are all in it for the same
reasonsreasons Consider efficacy of any new additions to Consider efficacy of any new additions to
the teamthe team
Hani A. TarabichiHani A. Tarabichi
Areas to Explore with your Areas to Explore with your TeamTeam
Individual goalsIndividual goals Commitment to the businessCommitment to the business Personal considerationsPersonal considerations What will keep the team going?What will keep the team going?
What will pull the plug (no funds?)What will pull the plug (no funds?) If goals differ, how will the conflict be If goals differ, how will the conflict be
resolvedresolved
Hani A. TarabichiHani A. Tarabichi
Effective TeamsEffective Teams Have clear goals and objectivesHave clear goals and objectives Share responsibilityShare responsibility Measure their progress towards the goalsMeasure their progress towards the goals Have the necessary skills (technical, Have the necessary skills (technical,
problem solving, and interpersonal)problem solving, and interpersonal) Have the resources needed for the jobHave the resources needed for the job Have agreed ground rules for working Have agreed ground rules for working
togethertogether
Hani A. TarabichiHani A. Tarabichi
Effective Teams:Effective Teams:
Have allocated appropriate roles for Have allocated appropriate roles for each membereach member
Support each other by listening, Support each other by listening, responding constructively and helpfullyresponding constructively and helpfully
Recognize individual and team successRecognize individual and team success Handle conflict constructively and Handle conflict constructively and
openlyopenly Share leadershipShare leadership
Hani A. TarabichiHani A. Tarabichi
The 4 Pillars to Build a The 4 Pillars to Build a Successful TEAMSuccessful TEAM
1.1. Common Purpose, and Shared Values Common Purpose, and Shared Values & & GoalsGoals
2.2. Development of SkillsDevelopment of Skills
3.3. Synergetic HarmonySynergetic Harmony
4.4. Keeping the Accent on the PositiveKeeping the Accent on the Positive
Hani A. TarabichiHani A. Tarabichi
Pillar Pillar ## 1 1
Common Purpose and Shared Values & GoalsCommon Purpose and Shared Values & Goals Create a challengeCreate a challenge, a reason for being that , a reason for being that
motivates people to work together motivates people to work together Set clear goals & strategies Set clear goals & strategies BOTHBOTH for for
individual and the teamindividual and the team Be clear on your valuesBe clear on your values Create a team charter that clearly states Create a team charter that clearly states
what the team wants to accomplish, and what the team wants to accomplish, and how the team will work to achieve resultshow the team will work to achieve results
Hani A. TarabichiHani A. Tarabichi
Worthwhile WorkWorthwhile Work
Knowing we make the world a better placeKnowing we make the world a better placeIt’s how the work helps others, not the units dealt withIt’s how the work helps others, not the units dealt with
Everyone works toward a shared goalEveryone works toward a shared goalPeople support best that which they helped createPeople support best that which they helped create
Values guide all plans, decisions & actionsValues guide all plans, decisions & actionsValues become real only when you demonstrate them in the Values become real only when you demonstrate them in the way you act and the way you insist others behave.way you act and the way you insist others behave.
Hani A. TarabichiHani A. Tarabichi
MEGALOMANIAMEGALOMANIA
No one is indispensableNo one is indispensable
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Pillar Pillar ## 2 2
Development of skillsDevelopment of skills
Start with the basics. Build individual Start with the basics. Build individual skills that will bolster team skillsskills that will bolster team skills
Provide Provide FEEDBACKFEEDBACK to build skills, to build skills, confidence, and accountabilityconfidence, and accountability
Learn each other’s rolesLearn each other’s roles
Hani A. TarabichiHani A. Tarabichi
Pillar Pillar ## 3 3
Synergetic Harmony Synergetic Harmony
NONE OF US IS AS SMART AS ALL OF USNONE OF US IS AS SMART AS ALL OF US
Share leadershipShare leadership Rotate position to build Rotate position to build flexibilityflexibility Turn individual skills into team skillsTurn individual skills into team skills
Hani A. TarabichiHani A. Tarabichi
In control of achieving the In control of achieving the goalgoal
Playing field with clearly marked territoryPlaying field with clearly marked territoryWhen in command take chargeWhen in command take charge
Thoughts, feelings, needs, and Thoughts, feelings, needs, and dreamsdreams are respected, listened to, and acted upon.are respected, listened to, and acted upon.it’s tough to be boss without being bossyit’s tough to be boss without being bossy
Able but challengingAble but challengingNo pain no gain No pain no gain
Hani A. TarabichiHani A. Tarabichi
Pillar Pillar ## 4 4
Keeping the accent on the positiveKeeping the accent on the positive
REPEATED REWARD & RECOGNITIONREPEATED REWARD & RECOGNITION
Look for behaviors that reflect the purpose and Look for behaviors that reflect the purpose and values of the team work, and REWARD themvalues of the team work, and REWARD them
Catch people doing things right or Catch people doing things right or approximately rightapproximately right
RedirectRedirect toward the goal; do not punish toward the goal; do not punish
Hani A. TarabichiHani A. Tarabichi
Cheering each others onCheering each others on
Active or passive, congratulations must Active or passive, congratulations must be TRUE = be TRUE = Timely, Responsive, Unconditional, EnthusiasticTimely, Responsive, Unconditional, Enthusiastic
No score, no game, and cheer the No score, no game, and cheer the progressprogressPolice behavior Police behavior VsVs Coach behavior Coach behavior
E = mcE = mc2 2
Enthusiasm equals mission times cash & Enthusiasm equals mission times cash & congratulationscongratulations
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The better (more effective) The better (more effective) congratulationscongratulations
ProgrammedProgrammed
BlanketBlanket
GeneralGeneral
TraditionalTraditional
SpontaneousSpontaneous
IndividualIndividual
SpecificSpecific
UniqueUnique
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PERFORMPERFORM
P=P= PurposePurpose E=E= EmpowermentEmpowerment R=R= RelationshipRelationship F=F= FlexibilityFlexibility O=O= Optimal PerformanceOptimal Performance R=R= RecognitionRecognition M=M= MoraleMorale
Hani A. TarabichiHani A. Tarabichi
Prepared for SYEA Ventures- Prepared for SYEA Ventures- 4/3/20084/3/2008
BE AWARE!!!BE AWARE!!!
Organizations can get Organizations can get SOSO focused on focused on beautiful processes that they forget beautiful processes that they forget what they’re really supposed to be what they’re really supposed to be doing doing
Getting it right starts to get in the Getting it right starts to get in the way of getting it done way of getting it done
Prepared for SYEA Ventures- Prepared for SYEA Ventures- 4/3/20084/3/2008
The Golden RulesThe Golden Rules
1. The 1. The PridePride RULE: RULE: You have to be proud of the GOAL & HOW you You have to be proud of the GOAL & HOW you
get thereget there
2. The 2. The self-confidenceself-confidence RULE: RULE:When in command take charge When in command take charge
3.3. The The 1010 words RULE: words RULE:
None of us is as smart as all of usNone of us is as smart as all of us
4.4. The triple The triple RR RULE: RULE:
Repeated Reward & RecognitionRepeated Reward & Recognition
Prepared for SYEA Ventures- Prepared for SYEA Ventures- 4/3/20084/3/2008
Teams fail because of:Teams fail because of: Unclear goals and objectivesUnclear goals and objectives Non-measurable goalsNon-measurable goals Ill-defined responsibilitiesIll-defined responsibilities Inappropriate membersInappropriate members Lack of training in team-working and Lack of training in team-working and
problem-solvingproblem-solving Inappropriate Leadership style and Inappropriate Leadership style and
behaviorsbehaviors
Teams fail because of:Teams fail because of:
Ineffective meetingsIneffective meetings Functional resistance and politicsFunctional resistance and politics Individualism or individual creativityIndividualism or individual creativity Failure to disband a team once it has Failure to disband a team once it has
served its purposeserved its purpose
Hani A. TarabichiHani A. Tarabichi
Useful formulasUseful formulas
Team = Communication + ParticipationTeam = Communication + Participation
Motivation = Challenge + CooperationMotivation = Challenge + Cooperation
System = Vision + Integrity + TrainingSystem = Vision + Integrity + Training
No participation = no commitmentNo participation = no commitment
Hani A. TarabichiHani A. Tarabichi
Useful formulasUseful formulas
Short term gains = long term painsShort term gains = long term pains
If you don’t serve your customer, If you don’t serve your customer, someone else willsomeone else will
Consistency in quality of Consistency in quality of communication is a mustcommunication is a must
Hani A. TarabichiHani A. Tarabichi
FinallyFinally
Please remember that there is no “Please remember that there is no “II” ” in in TEAMTEAM
None of us is as smart as all of usNone of us is as smart as all of us
Hani A. TarabichiHani A. Tarabichi
TEAMTEAM = =TTogetherogetherEEveryoneveryoneAAchieveschievesMMoreore
Hani A. TarabichiHani A. Tarabichi