Monthly Archives: October 2013

Building a World-Class Team

peopel-in-a-business-meetingWe often read success stories of entrepreneurs of the world and in awe of their success. “How a human being can achieve that high?” Maybe that’s a question that is often thrown in the mind after reading achievement entrepreneurs.

The answer is simple. People are brilliantly assisted by a group of people who are no less brilliant in tow. The great entrepreneurs are not working hard alone. They built a solid team that helped him realize big dreams in their brains. Here are some lessons to be learned from the world’s two seasoned entrepreneur, Donald Trump and Greg Dyke.

Donald Trump: You can not do it alone

That’s what was studied by wealthy Americans, Donald Trump, during its passage profession as an entrepreneur. Trump learned many things about entrepreneurship for decades. He learned about how to better use the resources he has, either in the form of financial, infrastructure, services in various kinds, and especially, a great talent.

Trump realized that for success, he can not do all alone. Building a world-class team is the only way to success. We began to build a business, Trump discuss with one of New York’s top lawyers who are experienced in the field of real estate, George Ross. Together with Ross, Trump define all the stakeholders needed for negotiations.

He later founded an architectural firm that can channel his vision forward. A list of resources is very diverse and is increasing from time to time, of the team and project managers to clerks. Trump strictly select anyone who could be a member of his team. After that, he was a delegate and let the ball rolling by itself. However, all team members remain aware that they must take responsibility for Trump on the implementation of the idea. For Trump, the main principle in selecting team members is, “Anyone who can not realize that I have embraced the principles of entrepreneurship, then it is not part of my team.”

Greg Dyke: Recruit people who praise your weaknesses

As a veteran in the world of leadership with a high level of communication skills, Dyke has served as General Director of the world’s largest news network, the BBC (British Broadcasting Corporation).

Dyke in providing a more concrete example of how to build a team of world-class winner. For him there are four things to consider when trying to build a team:

1. Build a team that you trust

Most entrepreneurs have great ideas and brilliant, but they do not quite understand how to implement them in the field or do not have much time to do it themselves. If you are this type, then Dyke advised to hire people you trust talent, expertise, and the excess will help you realize the vision of a business that has been established. The trust becomes the fulcrum in all the operations team.

2. Recruit the best people and let them work themselves to the fullest

Entrepreneurs do not need to monitor every move of his team every time. If you already believe and trust in them that they will do their best for you, you no longer need to bother to control the small things.

3. Always hire people who praise your weaknesses

Most people can only praise the achievement or superiority. Nothing special with it. But when someone is able to praise your weakness, then it can be concluded that the person is able to see the best in your personal. You need people like that, who can complement your individual as an entrepreneur and compensate for your weaknesses that could hinder the progress of the business.

4. Let them come in and do not let it out just because of doubts

As an entrepreneur, do not let doubt overwhelm you when team members provide a wide range of suggestions or proposals to advance the company or solve a problem. Entrepreneur is a leader with a stable mind. Try not to confuse the other team members with too many decisions to make changes. Things like this will only make them confused and bored.

Build a quality team is not an easy thing, even can take a long time to be able to find the composition of a team that really fit as desired. But with patience and tips above, success with the dream team is not impossible. Good luck!

Be the Leader in Your Field

competitionSome important things that affect your company seems to be out of control: all of it is controlled by government or regulatory agencies and affecting the industry as a whole. A leader can decide to become a leader in the industry.

Peter Martin is the principal operating officer of Norgine, a privately-owned pharmaceutical company. Some of the company’s most important products are the products ‘branded generics’, especially the kind that is reformulated to generic medicines available.

When Norgine representative industry body, The Association of the British Pharmaceutical Industry (ABPI), filed an action cost savings to the UK government will introduce an automatic replacement by a pharmacist of the cheapest generic drugs available, Martin felt that the ABPI is no longer represent the interests of the major company or the interests of other pharmaceutical companies of the same size. He also strongly believes that the new legislation does not favor long-term interests of the industry, especially the patients and did not result in cost savings.

Peter Martin is a favorite quote the words of George Bernard Shaw who said, sane people adapt themselves to the world, the less sane forcing the world to adjust to him. Therefore, all progress depends on people who are less sane. “I decided that I should be the one who is insane.”

Norgine led by Peter Martin and backed by dramatically resigned leaders of their industry body, the ABPI. Martin began to build a network with a group of other companies that have the same stance and hired a public relations firm to conduct the business lobby to the government. A petition was launched and asked the British prime minister to hold a public consultation on the issue. Martin worked closely with the pharmaceutical industry trade press to broadcast its position and its funding nearly all the business costs and prefer to be a pioneer in the business rather than creating a similar committee is even more upsetting.

The decision by the government or other regulatory bodies and legislation seem beyond our control. Leaders can decide to oppose the decision and lead their industry sector. Your own company may or may not be the ones who benefited from the success but if no one wants to do it, do it yourself. Make sure that you have the support of your directors. Wake up networking, do lobby and empowering media. Invite all players in the industry with you.

7 Principles Jack Welch in Business Leadership

jack welcWho does not know Jack Welch? The former number one at General Electric, whose real name John Francis Welch Jr. was born 19 November 1935. He is one of the characters who is known for his leadership while serving as the leader and Chief Executive of GE in the period 1981-2001. His reputation was achieved thanks to the high business acumen and leadership strategies at GE. He remains a respected figure among businesses considering innovative management strategies and leadership style.

Here are the 7 principles upheld by Jack Welch in managing GE extracted from the writings of Robert Slater “Jack Welch and the GE Way”:

Business is simple

Of simplicity, Welch has always stressed that it is not a complicated business. He encouraged people to respond to the business as a simple field. Welch said in a statement had said, “Do not make business harder than it is.” (Do not make the business more difficult than it actually is)

Simplicity is also very important for a reliable business leaders associated with the two functions he clothing: creating and projecting a clear vision.

Simplicity is an art form with many definitions. Meaning of simplicity can be a great deal depending on one’s viewpoint, but if you want to be summarized, Welch said, “… it [simplicity] takes the form of a plain-speaking, directness – honesty.” He emphasized honesty, candor as a real form of the concept of simplicity.

Do not make a business seem complicated

How different from other GE businesses, he encouraged everyone in the company to think simply, to see them as perpetrators him a similar process: input and output. And do not complicates the business more than it should.

Same input, said Welch. Input can be a person, energy, and physical space. While the output may vary.

Face reality

Welch in his book “Jack Welch and the GE Way” states unequivocally, “Face reality. gthen act decisively. “Let’s face the reality that is before us, whatever it is. Whether sweet or bitter. Bright or gloomy. Never retreat and escape from what we face.

For Welch, this is one of the main principles of doing business. Anyone, either in life or business, will usually win and be successful if he is able to recognize the fact that there are and react appropriately. It’s that easy.

However, for various reasons, some people are afraid to face reality. It was easier to avoid the truth with all sorts of ways. Truth hurts and bitter.

As an entrepreneur, successful leadership depends on two things: determine and deal with the fact – about the situation, products and people. Then do something quickly and firmly based on the fact that. A lot of mistakes that we make comes from a reluctance to face reality and act decisively.

Do not dither will change

“Embrace change, do not fear it,” said Welch. Changes occur faster than the time it takes a company to respond.

It makes no sense for an entrepreneur and venture to be successful if he is to avoid change. The future-oriented leaders like the changes. Change is their breath.

Change is an integral part of business reality. Every time we encounter new competitors, new partners, new methods, and so forth.

Welch apply this principle in GE by setting the same goal, which is to boost business growth, but the tools and methods are constantly evolving, not constant.

Fight bureaucracy

“Get rid of the managers, get rid of the bureaucracy!” Welch believes that each layer must be penetrated in a layer of bureaucracy is bad. The world is moving at a speed so high that the control could be hampering restraints. It just makes us sluggish.

Use existing resources efficiently. There is no need to have too many workers if the workload can still be handled properly. This he applied in GE. He became a pioneer in a movement streamlining unpopular. Although less enjoyable for many people, including himself, Welch knew it had to be done if GE is eager to be a company that continues to survive in the global competition in the future.

Use your intelligence worker

Involve everyone in the company. Take away the layers of management that makes it difficult and makes slow. Discard the shackles of bureaucratic restraints. And destroy the barrier reef which impede the course of the company to success.

Find out who has the best ideas, and apply the idea
This is the secret of other progressive management. Find the good ideas from anyone and then apply that idea seriously. That is adhered Welch at any time.

As a seasoned entrepreneur, he did not want to stop studying arrogant, even from people who are more ‘green’ from him. He thought vanity as we already know everything and that we could monopolize the truth is the beginning of destruction.