Leading Entrepreneurs on Building Teams
Over the years I have interviewed hundreds of America’s top leaders and a question I love asking is: “What is your best advice on building, leading, and managing teams?” Here are the answers I received to that question from seven top entrepreneurs:
Matt Friedman, co-founder and CEO of Wing Zone: I have a philosophy of hiring based on passion over skill. I believe any great leader believes in independence. You can’t micromanage and you need to listen to your team members and those that surround you in order to continue building a better company.
Holger Seim, co-founder and CEO of Blinkist: My best advice would be to not take good teamwork for granted. I think it’s all about focusing on managing and leading a team just as you focus on leading individuals.
Pam Krueger, founder and CEO of Wealthramp: Play to people’s strengths – and you can only do that if you know what their strengths are. Seek out one-on-one conversations with your team members so you can better understand their unique skill sets and interests and help them realize these aspects about themselves. Regularly ask your team if they are getting the experience they expected and wanted. When you stop hearing this type of feedback, you know your team has checked out.
Daniel Stanton, founder and CEO of Now Optics: Interview a lot of people. If you don’t learn more about the positions you’re looking to fill during the interviewing process, you didn’t interview enough people. Be flexible with the job description but don’t fit the position to the person. Never underestimate the investment needed in building your team. It will be your best use of time. Give your team the room to contribute to their capabilities while also creating space for them to make some mistakes. Be patient with the process, but hold them accountable. Be transparent with your goals, expectations, and style.
Jeanne David, founder and CEO of Outer Aisle: Build with gratitude. Always be available to your team. Set clear roles and expectations. Delegate effectively and efficiently – you can’t do it all on your own.
Andrew Pudalov, founder and CEO of Rush Bowls: Surround yourself with those that will complement your strengths and weaknesses. Build teams that you consider bright, skilled and compatible, but also have a shared vision. I’m not a fan of the “yes man” – teams should be comprised of independent minds and those that can respectfully and effectively challenge one another. I appreciate when people have contrarian opinions, but are committed to staying focused, finding solutions and achieving mutual goals.
Cole Orobetz, co-founder of Alpha Foods: Recognizing remarkable talent is crucial to giving the company the best chance at out-performing early when it counts the most. Even above average doesn’t cut it, find exceptional talent that can grow early on. Passion is another one, figure out if someone can get excited about something, anything, their dog, a band, a hobby, whatever. If they believe in the cause, that passion can be channeled into going the extra mile when it is needed. For managing larger teams, the formula is simple – set expectations, trust the team to execute, and create time to download and step in to problem solve if needed – listen!
For the full interviews with all seven of these entrepreneurs, visit my Lessons in Leadership series in Thrive Global. For my podcast interviews with Fortune 500 CEOs, founders and CEOs of household name companies, celebrities, athletes, generals, admirals, etc., visit Thirty Minute Mentors.