Building a Synergistic Team
Introduction Video
Description
As wealthy clients’ financial needs grew more complex, advisory practices became more multidimensional, and the need for a sophisticated and diverse team of financial professionals arose. The good news is that these teams allowed people to specialize in areas they played to their strengths and in many cases truly enjoyed, the bad news is that these large teams create their own levels of complexity and challenge if not designed properly and led well.
Course Content
- Definition of a Team: Learn the difference between a synergistic team and a working group, and how the former can be accretive (1 + 1 = 3) while the latter, with rare exception, can often reduce performance and crush profitability.
- When to Start a Team: Learn when it’s time to form a team or add a new team member; hint, it’s not necessarily when you start to feel overwhelmed.
- Vetting a Prospective Hire: Incorporate our 5-step process to ensure you hire someone that adds the tactical capability you need and will fit comfortably into the culture you have built.
- Expand Your Capacity: Incorporate well defined roles and responsibilities, while focusing on critical few objectives, to expand the capacity and performance of both your team and individual team members.
- Create a Unifying Compensation Model: Learn to create an aspirational, accountable, and unifying compensation model around the entire team’s clientele.
- Enhanced communication and performance: We provide your team the Disc and Motivators tools to help enhance communication and performance. Many misunderstandings and misalignments are the result of not understanding the various strengths, weaknesses, and communication styles of various team members.
- Team Meetings: Virtually all of us hate meetings because so many of them are a colossal waste of time. Learn to create highly focused meetings to help you execute tactically, strategically, And developmentally.
- Communication and Collaboration: All team members receive their personalized Disc and Motivators tools designed to facilitate open communication, enhance the team’s ability to collaborate effectively and help with aligning roles and responsibilities to play to the respective strengths of each individual team member.
- Build Esprit de corps: Our high intensity, fast-paced and often pressure filled environment can fray the nerves, degrade the resilience, and fracture the friendships of even our strongest and most committed team members. One of the best elixirs to mitigate this challenge is to foster a culture that embraces some level of humor and fun.
Course Breakdown
1. What is a team and when is the right time to form, join or add a new team member
2. How to find someone who fits your needs, your team, and your culture
3. How to optimize your team’s capacity to perform
4. Team compensation that incentivizes and unifies
5. The three critical team meetings to your success
6. Leveraging the Disc and Motivators tools to enhance team communication and collaboration.
7. The challenges and opportunities of family teams
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