So, what happens when you have defined clear roles and responsibilities, expectations, compensation structures, performance tracking, and your efforts to develop a culture of accountability begin to take hold? It is time to act.
The short answer is, definitely. Why? Mostly to protect the founders from themselves.
Making the transition from being an entrepreneur-led business to one that operates as an "institution" is not easy. A business that deals with everything that comes their way in a reactive, ad-hoc, team-based manner is not scalable. So, start with clearly defining and communicating a function-based org chart that nicely follows your value-chain.
It is well understood that growing a business requires people. If you want to grow a business fast, therefore, you have to source, filter, and hire of a lot of people very quickly. Identifying the right people, with the right capabilities, and the right cultural fit when the hiring engine is in overdrive requires a special set of safeguards.
Executives, decision makers, and management in general have a finite amount of "Management Attention Units" (MAUs). So, what are MAUs anyway? We use this general term to refer to time used by management to carry out core supervisory duties. Management’s time – a very valuable and finite commodity.
Escalation is a very powerful tool to make sure things get done at work. However, it should be used carefully and judiciously.
It is a well known fact that an effective way to reduce one's workload and stress levels is by delegating in the workplace. Delegating, however, requires trust in the person you are delegating to and an understanding that things may not be perfect.
SpaceX has emerged in the past few years as a uniquely disruptive company in an area that has, until now, been reserved for governments. Here are some interesting facts about their meteoric rise. What makes them good at getting hard or seemingly impossible things done?