One of the most important elements of a successful company is a strong Executive Team. Whether you’re forging ahead with a new business strategy or considering selling your company, it’s the power of the team to coordinate their efforts to create individual and collective peak performances that really counts. As John Warrillow, author of Built to Sell, and other experts in helping owners develop lucrative business exits note, it’s their ability to carry on the business as well – and often better – without you that significantly affects the final price.
Especially during times of great change – whether it’s the switch to post-lockdown hybrid workforces, new product lines with new suppliers and distribution channels, or workforce utilization due to automation and AI – it’s important that the Executive Team stays on the same wavelength to collaborate effectively and efficiently, and not end up unaligned and in silos.
It’s for this reason that I stress with the CEOs with whom I work the importance of coaching direct reports and opening stronger lines of communication. Indeed, Marshall Goldsmith, a leading executive coach, recently shared 6 questions that would be appropriate for these coaching sessions. They are:
· Where are we going? Are we in sync with the current vision, goals and priorities? Are we aligned?!
· Where are you going? Is your part really aligned with the company and other divisions?
· What is going well?
· What can be improved?
· How can I help?
After asking these questions, switch the focus with: “What suggestions do you have for me?” This opens the door to a two way dialogue.
With such coaching, you can identify cracks in the company’s strategy and be able to repair them.
Also be sure that you and your team have full “conversational capacity”. He created a “conversational martial art of business communication” that allows teams to perform well and remain open, balanced, and non-defensive as they tackle their most troublesome issues. For more information, see Craig Weber’s Conversation Capacity and https://weberconsultinggroup.net).
Final note: Recently, Vistage introduced a set of new leadership programs for managers that they supervise. For details on the Executive Leadership Programs, contact me at firstname.lastname@example.org)