EVENT RECAP: AN ENTREPRENEUR'S PLAYBOOK PART 2, "GETTING THE RIGHT PEOPLE DOING THE RIGHT THINGS"
Many fields are familiar with a playbook – a step-by-step guide on what you need to do to ultimately reach your goals.
But where’s the playbook when it comes to entrepreneurs?
Many feel like a start-up in every sense of the word, creating it all from scratch. But it doesn’t have to be that way.
On Monday, September 13, Rebecca Lockwood, Pinnacle Guide and former Certified EOS Implementer, sat down with entrepreneurs in the second of a three-part workshop series walking business owners through “An Entrepreneur’s Playbook,” outlining different practices that are key to help one’s business run at peak performance. The focus was “Getting the Right People Doing the Right Things.”
Utilizing the business operating system framework taught in the first workshop, Lockwood says each entrepreneur should focus on the four principles that will ultimately drive profits: People, Performance, Playbook, and Purpose.
FINDING THE RIGHT FIT
Profits are essentially the goal, but not always. You want to make money, but you also want to invest in the business and hire the right people to ensure success. You need money (profits) in order to do this. But the only way to grow with purpose is if you have the right structure in place.
A talent assessment is a great tool that allows you to take a big picture approach to see where everyone is in your organization – departmentally, culturally, and functionally. With the help of this tool, leaders can determine their “A players,” as well as those “B” and “C” players who you may have to coach up or coach out.
FUNCTIONAL ACCOUNTABILITY CHART
Utilizing a Functional Accountability Chart, you can find those major functions and ensure one person is accountable for each role. This will allow you to take a look at whether you have more than one person accountable for the same role, or goal. You only want one person accountable, because when two people are accountable, then nobody is accountable.
When analyzing each person and their role, don’t overlook whether they are a good cultural fit for the organization as well. Ultimately a good cultural fit means they possess the businesses core values. It’s best if you can find this out during the interview process through asking open-ended questions.
Using productivity and cultural fit as measurement tools, you can plot each team member to see where they are on a scale of 1 to 10 in each category. If there’s room for improvement in either category, decide on what action you need to take, or how you can coach each person individually to perform at a higher level.
Ask what’s working and what’s not working for each individual, and ensure they are at an appropriate level on the Functional Accountability Chart for the business. Once that is in place, determine whether that chart is a representation of what your business is right now, or what you want your business to be in 6-12 months. You want to always be looking and working toward the future.
There’s still time to register for the last free workshop in the series to help you run your business at peak performance. Register for the workshop “Process Takes the Pressure Off the People” taking place on Monday, October 4 at 10 AM. You can join either in-person or virtually. You’ll find the registration link for both workshops here.