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Do you trust your team?

HOW TO BUILD TRUST IN HIGH PERFORMING TEAMS

Be honest.  When was the last time you put your hands up and said you got it wrong?  Or admitted weakness to your team?  Does that come easily or do you find it hard?  This matters because it says a lot about your team culture.  It shows that you trust your colleagues and they trust you.

Patrick Lencioni nailed this when he wrote ‘Five Dysfunctions of a Team’. He identified the pyramid of reasons that result in organisations not getting the results they’d like or feel is due to them.  At the top was inattention to results which was built on avoidance of accountability. This in turn was due to a lack of commitment which was built on a fear of conflict.  But the very foundation of the whole pyramid was the absence of trust. 

I turn up in some organisations and can tell immediately if a team trust each other.  It’s palpable.  Maybe they’ve knocked off each other’s rough edges.  They might have worked together for a long time. Other teams are very polite.  Too much so. They don’t want to look as though they’re criticising. When I dig into this, it might be because the person concerned doesn’t feel their own department is perfect. So they’re reluctant to criticise anyone else’s. 

Whatever the issue, it’s possible to change default patterns.  It’s hard work, but you can be deliberate about building trust in high performing teams. Here’s how.


Podcast How To Do Disruptive Innovation with Tendayi Viktitle

If you’re wondering how you can find time from everyday business operations to do innovation, today’s guest, Tendayi Viki, is the guy you want to listen to. 

He’s an award winning author and corporate innovation expert. He’s also been recognised by Thinkers50 as one of the world’s foremost business strategic thinkers, and he’s the author of three books, the latest of which is Pirates In The Navy

Tendayi’s biggest bugbear is innovation theatre, those companies that look like they’re doing innovation, but aren’t, and so he shares his thoughts on how to innovate properly. 

What you don’t need, says Tendayi, is an entrepreneur in residence. Having a startup mindset doesn’t require you to actually employ a startup founder, nor do you need to install ping pong tables either. 

What you actually need, if you’re going to innovate, if you’re going to come up with another big idea that’s going to drive the revenue of your business in the long term, is to figure out how to structure it, how to staff it and how to measure its success. 

So to find out how to innovate in your business, because let’s face it, any business that stands still gets left behind, download and listen to this latest episode. It’s a great conversation.


The Sales Playbook

Sales tips for the aspiring rock star!


Why The Global Economy Is Recovering Faster Than Expected

The economic impact of coronavirus continues to surprise. In the spring, previously unimaginable shutdowns pushed economic activity to unimaginable lows. After the initial shock, however, perhaps the biggest surprise has been how fears of systemic meltdown remain unfulfilled — the initial bounce back was far stronger and sooner than expected, and some sectors of the U.S. and other economies have seen complete recoveries to pre-crisis levels of activity.

4 Ways to Reconfigure Your Sales Strategy During the Pandemic

It has become clear that we won’t be back to “business as usual” anytime soon. A few months ago, the changes to the workplace brought on by Covid-19 were viewed as a temporary adjustment — something we needed to endure for a few months before the inevitable return to commuting, offices, and face-to-face meetings. But as companies settle into the reality that the current state of things might be the new normal, they need to shift their focus from temporary fixes to a fresh approach to your organizational strategy. For any business that relies on direct sales to drive revenue, it’s time to systematically update your sales organization for the world we’re living in now.


How I Built This by Guy Raz

Great ideas often come from a simple spark: a football player on the New Zealand national team notices all the unused wool his country produces and figures out a way to turn them into shoes (Allbirds). A former Buddhist monk decides the very best way to spread his mindfulness teachings is by launching an app (Headspace). Award-winning podcast creator Guy Raz has interviewed more than 200 highly successful innovators from across the world, from the founders of Five Guys, Airbnb and Bumble to James Dyson and Reed Hastings of Netflix, to uncover amazing true stories like these. In How I Built This, he shares tips for every entrepreneur’s journey: from the early days of formulating your idea, to raising money and recruiting employees, to finding your market and, finally, to paying yourself a real salary.


They Ask, You Answer by Marcus Sheridan

In today’s digital age, the traditional sales funnel—marketing at the top, sales in the middle, customer service at the bottom—is no longer effective. To be successful, businesses must obsess over the questions, concerns, and problems their buyers have, and address them as honestly and as thoroughly as possible. Every day, buyers turn to search engines to ask billions of questions. Having the answers they need can attract thousands of potential buyers to your company—but only if your content strategy puts your answers at the top of those search results. It’s a simple and powerful equation that produces growth and success: They Ask, You Answer. Using these principles, author Marcus Sheridan led his struggling pool company from the bleak depths of the housing crash of 2008 to become one of the largest pool installers in the United States. Discover how his proven strategy can work for your business.


MEANINGFUL ACTION FOR MONDAY

RE-VISIT YOUR SALES AND MARKETING EXPENDITURE

Are you spending enough on sales and marketing? Because, most likely, the reason you aren’t achieving the revenue you’re looking for is that you haven’t invested enough. I see this all the time. New clients have done a spreadsheet of projections for future growth.  But they haven’t worked out the key sales and marketing metrics to get them there. If your business is recurring revenue, work out the net revenue from new customers over the next 12 months.  Say it’s £400K.  Are you spending £400K to get that revenue? Because I would tell you that’s what you need to spend. And forecast the widgets you need to sell to get to your revenue target so you can see how you’re progressing.


Upcoming Events

Prescription for Growth Workshop – Date to be announced

A special workshop presented by Justin Roff-Marsh (author of The Machine) and hosted by Dominic Monkhouse at Foundry Farm. Join 21 of your peers (owners and senior executives from mid-sized businesses) and design a simple (but detailed) plan to expedite the growth of your organization. 

Scaling Up Business Growth Workshop – 18th of March 2021

When the going gets tough, attitude trumps everything. Don’t let COVID-19 beat you into the ground and take your business. Treat this pandemic as an accelerator. The “one thing” you’ve been looking for to pivot, re-evaluate or simply get shit done. Join us on our farm in Wiltshire to walk through our Scaling Up growth programme.

Acetech Summit, Whistler – April 2021 (re-scheduled)

An exclusive annual gathering of high-growth tech CEOs. This powerful three-day summit will transform how you define success and deliver growth in 2020 and beyond.


Quote of the week

‘Don’t trust the person who has broken faith once’

William Shakespeare

Dominic Monkhouse

Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.

Want to scale up? Join my newsletter to receive a copy of my book, ‘F**K Plan B: How to scale your technology business faster and achieve Plan A’.