Trust and competency go hand-in-hand in creating an environment where inside entrepreneurs can realize their potential.
When leaders trust each other, it’s underwritten by a deep understanding of the business — enough so that Leader A can see that Leader B has relevant knowledge and an ability to apply that knowledge to the business.
Rare is the situation where an incompetent leader will put trust in another leader. Usually, the less competent leader feels threatened and is reluctant to give up any perception of power or influence. In addition, the more competent the senior leadership is, the more likely they are to be able to identify and then put the appropriate trust into younger leaders.
Why is this important?
For entrepreneurs aching to launch something new or drive change within their organizations, you need to get a solid understanding of two things:
-Is leadership competent within your organization? You should be able to confidently answer “YES” to the following questions:
- Can the senior leadership of my company accurately and succinctly talk about our business — what we do, key metrics of our business like number of employees/offices, profitability, revenue, growth, etc. (believe it or not, we’ve seen too many instances where this is NOT true!)
- Is the senior leadership of my company regularly “in touch” with the people we serve (customers, clients, end-users, etc)?
- Is the senior leadership of my company active in the “industry” in which our company operates? Are they sought after to speak, write, consult, mentor?
-Is leadership trusting within your organization? Similarly, how many of these questions can you answer “yes” to?
- Has leadership recently given responsibility AND authority to group leaders, team leaders, etc?
- Does my company have a compensation philosophy that shares financial risk and reward beyond the senior leadership team? (even if not, are they willing to share the risk and reward of the venture that YOU are working on with YOU?)
- Is there a history in the company of celebrating the successes of new ideas/ventures where appropriate recognition is given to everyone who contributed — and did those key contributors stay with the company and continue to innovate for the company?
If your answer to any of these questions is “no,” you may want to have a heart-to-heart with at least one of the leaders in your organization and assess whether the climate is right for your inside entrepreneurial venture. If the answer is yes, be ready to get moving on your ideas!
Photo licensed under Creative Commons 2.0 via Flickr user: NH53