FY2012 Is Coming: CEOs, What About Your Management Team?
This week I would like to cover the need for the CEO to take a hard look at
- Your current management team
- Your 2012 management team additions
Last year, I wrote about this in my blog, and it is still relevant for any CEO looking to be successful in 2012. As I think about the companies I work with, not only is it important to invest in product development, sales, marketing, customer service, finance and professional services (if it is appropriate to your model) — but also the management team.
But the best CEOs will have a strategy to:
- Develop the skills of his or her individual management team members where they need help;
- Seek to upgrade his or her management team where appropriate;
- Work with the current management team and board to identify the next key management team roles to add to the company to help the company continue to scale
Remember, people are the only strategic asset you have, and the companies that have the best management teams
- Create the best strategies
- Execute better than their competition
- Hire the best people
- Achieve the best exits
As a venture partner at OpenView I am currently working on this with all my CEOs. So don’t leave it up to chance or fate … take the time to do it right. Evaluate your current management team and your future management team needs now.
All the best!