There’s a really good chance that you and the other members of your leadership team are not having nearly enough conflict. I get it—the harmony that comes from no one stepping on anyone’s toes feels nice: everyone likes one another, you have fun together, things are running smoothly. And, you probably aren’t nearly as good as you could be as a company. There are tough decisions being made without all the relevant information. There are people who are not feeling (or being) heard. There are people who aren’t bought in on some key decisions.
Read MoreAccording to the Family Business Alliance, 80–90% of businesses in America are family-owned. This number includes companies ranging from the literal ‘mom & pop shop’ around the corner to Fortune 500 businesses like Walmart. It’s easy to see why it’s attractive to start a company with a family member or other person close to you—shared values, deep trust, and loyalty jump to mind. I’ve worked with a few of these types of businesses, and I’ve seen first hand that it can also be tough: blurred lines between personal and work life, a lack of outside influences and ideas, and the risk of work conflict impacting the personal dynamic or vice versa.
Read MoreWe recently shared some data from Kenan-Flagler Business School’s Trends in Entrepreneurship Report that indicated businesses with multiple founders are more likely to reach ‘unicorn status’ (valued at $1B) than those with single founders. This 2021 data seems to be in direct conflict with a report from researchers out of Wharton and NYU a few years ago, who found that single-founder companies are more likely to succeed.
Read MoreLet me tell you some bad news, and it’s something you probably already know: working with a partner can be complicated. Christopher Law is a Ph.D. candidate at Kenan-Flagler, researching the impact of the cofounder dynamic on the company’s culture. His research is far from complete, but Law and I recently spoke about what he’s learning from his conversations. As it turns out, the cofounder relationship is frequently boom or bust.
Read MoreEstablishing clarity on these things doesn’t mean your leadership team will never experience conflict, but it will give you a reference point to come back to when you disagree. It gives you a chance to say, “How are our actions helping us achieve our goals? How do they match what we agreed we would do?”
Read MoreDeliberate practice is more than mindlessly repeating a task; it’s about practicing systematically with the intention to improve. Deliberate practice necessarily includes operating at the edge of your current skill level and working to the point of failure. When you hit that failure point, you assess what went wrong and apply your learning to the next practice round.
Read MoreWe have learned that most people are terrible at holding themselves accountable in a reasonable way - they tend to be way easier on themselves or way harder on themselves than they should be. So, our coaches build a system to right-size the accountability for the goal. Here are two pieces of that system that you can use on your own, with or without a coach.
Read MoreIn my experience, no process is more essential for your team than a consistent, constructive flow of feedback. There is an idea that feedback should always be delivered in private unless it’s praise, but that mindset prevents teams from performing at peak levels because it limits collective ability to learn together. Teams with a solid foundation of trust can be honest with each other, and honest teams are more likely to be trusting teams - it’s a virtuous cycle. However, don’t equate honesty with brutality. You can give honest feedback, even in front of teammates, and do it with kindness and respect.
Read MoreThroughout the month, we’re talking about how to build a cohesive, diverse leadership team. Last week, we talked about the value of diverse teams and the difficulty of building the trust necessary to support them. Over the next several days, we’ll be sharing foundational steps to begin building organizational trust and team cohesion.
Read MoreFebruary is Black History Month. The racial turmoil of 2020 led to widespread commitments to racial equity and a broader conversation about the value of diversity in the workplace. Let’s be clear - we didn’t discover in 2020 that diversity is good for business - we’ve known for some time that companies led by a diverse team are more successful. What’s different going into Black History Month 2021 is a certain amount of momentum that could lead to real change. The road ahead is not without its obstacles; merely inviting others to the table is not enough. For any team to thrive (even homogeneous groups), there must be structures in place to make cohesion more likely.
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