Selecting Talent
There are three things investors look for: management, management, and management. But how do you select the right people?
A recent book has some answers. Take a look at Executive Intelligence: What all Great Leaders Have by Justin Menkes.
Menkes defines the three areas of managerial work as: accomplishing tasks, working with other people, and self-evaluation. Some highlights of the critical skills:
- capacity to distinguish between primary and secondary goals
- ability to anticipate probable outcomes and unintended consequences
- ability to recognize the underlying agendas of others
Don't let the cover fool you. In my opinion, these skills apply to everyone in the team. In a fast moving environment everyone must be a leader.
Menkes is critical of traditional interviews, personality profiles or work-style tests as a selection technique. I tend to agree, however, they can be very useful for team building and ensuring that you develop a more balanced team.
The best way to select staff is to use an "oral exam", setting a series of hypothetical business problems and asking them to verbally answer how they would solve it. This technique has saved me from a few problems.
Bottom Line: Everyone must be a leader. Use hypotheticals to test candidates. Don't forget the self evaluation.
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