From Equitix’s perspective, a great founder is someone who can identify the qualities in their middle managers that make them suitable for higher positions. By placing the right people in the right roles, founders can focus on more strategic, high-level tasks. So, what are the signs to look for when considering promoting someone to a higher position? Let’s check these out:
1. Accountability Can you rely on this person to take responsibility? A leader should not be clock-watching. When problems arise, they should be proactive in finding solutions rather than passing the buck.
- Indicators: Willingness to help outside of their role, ability to decline tasks outside their scope but with prior notice, and a readiness to serve customers.
2. Proactiveness Does this person anticipate problems and take initiative? Proactive individuals are inspiring leaders.
- Indicators: Researching before asking questions, suggesting solutions, and directly addressing issues.
3. Cultural Fit Does this person understand and embody the company’s culture? Can they communicate and uphold the company’s values?
- Indicators: Demonstrating a deep understanding and belief in the company’s values.
4. Self-control Can this person manage their emotions and behavior in a professional setting?
- Indicators: Appropriate communication, respect for others, and understanding of their role in the organization.
5. Self-Confidence Self-confidence is born from achieving numerous successes, both big and small, backed by concrete results. A leader should have real-world examples and experiences to back them up.
- Indicators: A commanding presence, the ability to complete tasks even when lacking experience, and a track record of success.
6. Customer-Oriented Understanding the customer’s needs is crucial for any successful leader.
- Indicators: Ability to adapt communication styles to different audiences, recognizing the value of customer feedback, and a focus on customer satisfaction.
7. Results-Oriented A results-oriented individual is driven to achieve goals and is willing to go the extra mile.
- Indicators: Ability to create plans, anticipate risks, and utilize resources effectively to achieve desired outcomes.
- Those who exhibit qualities 1 and 2 (accountability and proactiveness) are more likely to be results-oriented.
8. Relationship Building
- Indicators: Ability to build strong teams and foster positive relationships within and outside the organization.
- How to do: Simplify conflicts, focus on solutions and perspectives, and respond calmly and gently.
9. Desire for Growth
- Indicators: Proactive in seeking opportunities for self-improvement and professional development.
10. Teaching Ability
- Indicators: Ability to effectively train and mentor others.
11. Communication Skills
- Indicators: Ability to convey complex ideas simply, clearly, and concisely so that all of the audiences, even ones with limited understanding of the topic can understand.
12. Critical Thinking
- Indicators: Ability to analyze information, evaluate arguments, and draw sound conclusions from various inputs.
13. Internal Communication
- Indicators: Understanding of organizational communication structures and the ability to ensure effective information flow.
14. Problem-Solving
- Indicators: Ability to identify root causes of problems and develop effective solutions with 5 whys analysis.
Sometimes growth doesn’t come from money when your ROE is > 20-30%. It’s more about planning and building a key succession management plan for the future when the opportunity is ripe.
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