John Drakakis (Head of Financial Services) attended the Macquarie Business Forum earlier this week at the Brisbane Convention Centre.
There were so many interesting sessions but the one that resonated with me most was the session on Elements of High Performance Teams and how they aim to keep people motivated and the business performing.
High performing businesses continually seek opportunities, challenge current ways of operating and strive for continual improvement. Here is an outline of the foundations of a high performance business and how to create an environment guided by an entrepreneurial mindset and commitment to innovation.
You always need to keep STRATEGY front of mind. The EXTERNAL focus is next in line. i.e. CLIENTS and COMPETITORS.
Next is LEADERSHIP and it is important to have leadership behaviors throughout your organisation. Leadership has to come from the top levels but all levels are responsible for their own version of leadership.
Leaders in the business have attributes such as:
- Take ownership of the outcomes
- Act as if they own the business
- Talk in language such as “my clients” and take full care and responsibility
- Spend the business money like it’s their own money.
Following leadership is PEOPLE. You need to Attract – Select – Define and Drive and Recognise people. The ENVIRONMENT you work within also plays a huge factor. Create an environment where decisions can be made quickly and always have diversity and inclusion.
Finally CULTURE. The behaviours, symbols (physical layout, where we sit etc.), rituals (celebrate success, group activities, birthday cakes), stories (share stories that excite and inspire others in the team) all form part of the culture of your business and ongoing collaboration with others internally and externally is vital for business.
The world is full of opportunity, but it’s essential to be focused on leveraging this potential to really harness it for your business.