What are the simple strategies one ignores while building their management teams?
First time founders do not invest enough in the “management” their management teams.
You have to:
- Have weekly staff meetings. Everyone should present a 5 minutes update.
- Have biweekly 1-on-1s with each VP and direct report. You have to make the time.
- All-hands company meetings at least every 6 weeks or so. And every VP should present their section. You can reuse board meeting slides so it’s not a big burden.
- Make your VPs meet with each other. This is one people miss. Force your VPS and VPM to meet with each other, especially. And your VPS and VPCS. They may work together, every day. But it doesn’t mean they talk.
- Back fill. Your job is to help backfill where your VPs are weak. Not to spend lots of time where they are strong.
If you don’t do all this, the team will operate sub-optimally.
Published on August 5, 2016