Why Getting Your Team Right Is Crucial To Business Success

Why Getting Your Team Right Is Crucial To Business Success
SHARE
THIS



Brett Kelly (main photo) is the author of Investment Wisdom and CEO of Kelly+Partners Chartered Accountants. In this guest post, Kelly says the secret to success in any business is a great team and offers his tips on how to build one for your own…

A common trap for people starting out in the business world is to think that they can do it all by themselves. Think of the great Olympians. Swimmers, long distance runners, decathletes, celebrated for winning individual glory. But none of them really did it alone. For every successful athlete there’s an entourage of trainers, doctors, managers, sponsors, you name it. All of them carefully selected to work well together and achieve the best results. It’s a principle that applies in sport, in business, in life. Don’t just take my word for it; look up Warren Buffett. It’s worked pretty well for him.

I’ve been reading about the great American magnate since I was 17, and we’re fortunate now to live in an age where his wealth of wisdom is instantly available at a click. There’s even a delightful cartoon series in which he teaches a group of school kids about business and finance. For all his specific and highly qualified advice on business and wealth accumulation, however, it’s often his more generic life advice that strikes the biggest chord. To do well in business you have to have a core set of values and principles that underpin all you do. He has often said that life’s most important decision is who you marry.

“You want to associate with people who are the kind of person you’d like to be. You’ll move in that direction,” he once told Bill Gates.

In fact, much of Buffett’s best advice centers around the people we surround ourselves with. Mix with people beneath your level, he reasons, and you’ll be dragged down, whereas associating with those who are ‘better’ will challenge, motivate and inspire you.

Success doesn’t happen in a silo

Speaking to some of Australia’s top investors, a common thread that unites them is their belief in the team environment, finding the right blend of people and knowing how best to work with them.

Andrew Clifford, CEO and CIO of Platinum Asset Management, is brutally honest about what held him back in his early days.

“We started this as a group of people who understood investing,” he says.

“We’d never actually worked out how you engage in this investment process as a group of people. It was all like, go find me this stock, and come back and tell me about it, and we’ll have a discussion about it because we wanted to keep searching for ideas and having a debate.

“We managed money really well, but may not have managed people particularly well. If I’d understood in my mid-20s that you actually do need to manage people, and had learned those skills, I would have been a lot further ahead.”

Personality and experience count equally

Having a clear idea of the kinds of personnel you want on your team can save a lot of difficulties later on. Unusually for John Murray, Managing Director, Perennial Value, inexperience was an asset.

“I wanted to bring together a small group of people that didn’t have any experience in funds management,” he says.

“I didn’t want to bring on anyone that had any preconceived ideas of how we should invest – I wanted to start from scratch, with a new template, in terms of people.”

Teams determine direction

Even when choosing which investments to make, a crucial part of the research component is carefully examining the people behind the companies you wish to invest in.

Tribeca Investment Partners portfolio manager Jun Bei Liu says some investors will even follow strong management teams if they move companies.

“You need to do a lot of research into management; understand how they think and look at their track record. The success of a business comes down to people and systems – the systems are really there to assist the people,” she says.

Constantly honing your people skills to become a better communicator will give you a massive edge over those who are all about individualism. I remember having something of an epiphany shortly after completing my studies, that none of it had prepared me for managing people. I have since spent my life learning, researching and seeking out experts to learn from. And consistently, throughout this journey, people have taught me that the relationships you build are at the center of success.

 

Please login with linkedin to comment

Brett Kelly

Latest News

Wednesday TV Wrap: TV Viewers Show Little Love For The 2020 ARIA Awards
  • Media

Wednesday TV Wrap: TV Viewers Show Little Love For The 2020 ARIA Awards

It appears Australians weren’t all that interested in the 2020 ARIA Awards, with just 287,000 metro viewers tuning in to watch the Awards on Channel Nine, according to OzTAM data. Tame Impala took out Album Of The Year with The Slow Rush, while Song of the Year went to 5 Seconds Of Summer’s ‘Teeth’. ABC’s Gruen was […]

by B&T Magazine

B&T Magazine
Apple Spreads The Christmas Joy In New Ad Starring Rapper Tierra Whack
  • Technology

Apple Spreads The Christmas Joy In New Ad Starring Rapper Tierra Whack

It’s been a tough year for a lot of us. But rather than reminding everyone of the hardships 2020 has brought, tech giant Apple has decided to spread the joy of Christmas in its latest holiday spot. The ad features an initially gloomy Tierra Whack (American rapper, singer and songwriter) coming home from what appears […]

by B&T Magazine

B&T Magazine
Frontier Advertising Rebrands, Wins New Clients & Boosts Teams
  • Advertising

Frontier Advertising Rebrands, Wins New Clients & Boosts Teams

Frontier Advertising has rebranded to Frontier Media, complete with a fresh new look, and expanded its core team to accomodate some big clients wins. Frontier Media was acquired by Australian-owned, independent agency group VMG (Venetian Media Group) in early 2020. The rebrand is seen as an important step in VMG’s growth strategy and core services […]

How Starlight Children’s Foundation Relies On The Power Of Storytelling And Intelligencebank To Amplify Its Brand
  • Marketing

How Starlight Children’s Foundation Relies On The Power Of Storytelling And Intelligencebank To Amplify Its Brand

As one of Australia’s best-known charities, the Starlight Children’s Foundation has a reputation for providing much-needed support and happiness. Starlight brings a little more brightness into the lives of seriously ill children and their families, so they can forget about their illness for a while and reconnect with the joy of being a child. Of […]

Partner Content

by B&T Magazine

B&T Magazine
Peak Season? Let’s Talk Peak Performance
  • Opinion

Peak Season? Let’s Talk Peak Performance

With this year’s Black Friday sales now just days away, Kristen Cornale, Co-founder and Strategic Director at UnDigital, gives her advice on how to get the most from your Black Friday sale. It’s no secret that online shopping has become more and more prominent over the last few years. With the introduction of Click Frenzy […]

Opinion

by B&T Magazine

B&T Magazine
Indie Agency Paykel Media Snares Dan Hojnik For Strategy & Planning Role
  • Media

Indie Agency Paykel Media Snares Dan Hojnik For Strategy & Planning Role

Independent media agency Paykel Media has announced the appointment of Dan Hojnik to the new role of head of strategy and planning. Hojnik will start at Paykel Media on 4 January. Based in Melbourne, he will report to Sarah Keith, who joined Paykel Media as national managing director in early November, based in Sydney. Hojnikwas […]

GroupM Agencies Dominate Global New Business Media Wins For Q1-Q3
  • Media

GroupM Agencies Dominate Global New Business Media Wins For Q1-Q3

According to the latest global media agency study New Business Barometer for Q1-Q3 2020 published by COMvergence, Wavemaker came out as the top global media agency in new business results with total new business value of $US1.1 billion (including $US370M of retentions) during the first nine months of 2020. This is largely due to strong […]

Six Ways To Supercharge Your Service Standards & Value
  • Opinion

Six Ways To Supercharge Your Service Standards & Value

Mark Carter (main photo) is an international keynote speaker, trainer and coach. He has over 20 years’ experience as a global learning and development professional and author of the book Add Value. In this guest post, Carter offers easy tips to adding a value proposition to your customer service… Adding value via service is a […]

Opinion

by B&T Magazine

B&T Magazine
ACTIV Brand Management Strikes New Partnership With Nine’s The Block
  • Marketing

ACTIV Brand Management Strikes New Partnership With Nine’s The Block

Melbourne-based, boutique activations and brand experience company, ACTIV Brand Management, has secured a new partnership with Nine The Block, which saw them deliver a series of sensory brand experiences to support the show’s sponsorship engagement and virtual events calendar. In response to the changing events landscape, the team at ACTIV recently launched Brand Box, a […]

VERSA Expands Into India
  • Advertising

VERSA Expands Into India

World-leading conversational AI agency VERSA has announced its expansion into India, capitalising on demand for specialised conversational strategy and design in a market with a population of more than 1.3 billion people, and an installed base of nearly a billion mobile phones. VERSA India will be a 50/50 joint venture between VERSA (Headquartered in Melbourne, […]

Alive – Pioneering The Transition From Live Events To Meet The Demand Of Virtual For The Last 10 Years
  • Technology

Alive – Pioneering The Transition From Live Events To Meet The Demand Of Virtual For The Last 10 Years

Alive are celebrating 10 years! Leaders in creative event production, and the launch of ‘Alive TV’ showcases the revolutionary concepts created for clients during this challenging year; such as the most recent virtual success stories with clients such as Luxoticca Brickworks and The International Rose Garden Festival. Alive Events have pioneered the virtual space for […]

Thinksmart Marketing Executes Campaign From Hot Air Balloon
  • Media

Thinksmart Marketing Executes Campaign From Hot Air Balloon

Integrated B2B marketing agency Thinksmart Marketing (TSM) has managed to execute a campaign from 3,000ft up in a hot air balloon. NICE inContact, approached TSM earlier this year to build preference, drive demand and generate strong leads for the brand across ANZ, with a campaign focusing on showcasing the capabilities and agility of its global-leading […]

AppsFlyer Opens Sydney Office Amid Expected Surge In Mobile Marketing Spend
  • Marketing
  • Technology

AppsFlyer Opens Sydney Office Amid Expected Surge In Mobile Marketing Spend

Global attribution and marketing analytics company AppsFlyer has expanded into Australia and New Zealand, with the official opening of its first office in Sydney. It marks the opening of the company’s 19th office worldwide, with AppsFlyer hoping to “support the region’s rapidly growing local app economy”. The company said it plans capitalise on ANZ’s mobile […]

Are We Ready For The Future Customer?
  • Opinion

Are We Ready For The Future Customer?

All B&T will say on the "future customer" is we hope they're less "Karen from Bunnings" or Woolies' aisle Fight Club.

Opinion

by B&T Magazine

B&T Magazine
Akcelo Appointed By VentureCrowd For Marketing Transformation Program
  • Advertising

Akcelo Appointed By VentureCrowd For Marketing Transformation Program

Brand experience and innovation company Akcelo has been appointed by equity crowdfunding platform VentureCrowd to lead its marketing transformation plans. Akcelo will drive VentureCrowd’s customer strategy, acquisition and nurturing programs as part of the transformation program, including the Salesforce Marketing Cloud integration to its business ecosystem. VentureCrowd is a digital investment platform which gives investors […]

The PR Hub Announces New Hires & Client Wins
  • Media

The PR Hub Announces New Hires & Client Wins

Public Relations agency The PR Hub is expanding its team, announcing the hire of two senior account managers, Olivia Jarman and Trudy Scott. The hires will support growth in the business with the agency experiencing an increase in demand for B2B and B2C communications and personal branding services across a broad range of technology driven […]