tayaion.blogg.se - See the bigger picture

This is a time for potential value creation. Better yet, look to rebalance into “beat up” assets and take losses while you can for tax savings. Cash may feel safe, but it can be a silent killer of long-term returns though missed days in the market and inflation. and they have been hurt by it!)ĭon’t panic and run to cash. (Our next blog will focus on “yield chasing,” something we eschew because of the inherent risk underneath, and we see too many investors and advisors doing it.

Understand investment risks thoroughly and address them strategically in your investment portfolio. If you are in need of cash in the near term, then you should be in a “risk off” mode. Make sure your investments contemplate your appropriate time horizon. So, with this “correction,” it is time to take a deep breath and make sure you are investing appropriately. As you step back, ups and downs become less noticeable and the picture is beautiful. Each one you try is a potential new tool in your toolbox.You get the point. There are a lot of options above – pick two or three things and give them a go.

Don’t spoon-feed! When you get the monthly results, just hand them out and ask your team what they think, rather than spending half an hour explaining what you think.

Respond positively when you’re challenged.

Ask your team to spot changes in other teams and the organisation around them, and to bring those to your attention.

Quiz your team on what’s going on in other parts of the business.

If you face off to other teams, regularly ask them into your team meetings so that they can offer feedback, and see if you can get your team to attend their meetings and report back on the core issues the other team is grappling with.

Set an expectation that each team member needs to improve something about how they work at least once per month make them accountable by giving a date for them to report on this to the team, and review progress at meetings with them.

Set tasks for the team to map out how they connect to each other, who they connect to outside of the team, and where the different hand offs are for the work that they do.

Can you get them to see it as key for their progression?

Make sure you include the ability to see the bigger picture in your next selection process.

Responsiveness to change is something to be cultivated.

Drip feed change through so that they are exposed to different things all of the time – don’t let them settle into a rut where ‘no change’ becomes the norm.

What are the key challenges your company faces against other key people in the marketplace? Hold a competitor slot in team meetings every few months.Expose the team regularly to briefings and corporate information either in your meetings, on noticeboards etc – relate this to their work.Give them some prestige and involve them in your planning activities Reward those people and the fact that they “get it” by recognising them in the team.Get them to talk about what they’re doing and what the bigger picture is with some of their colleagues in everyday conversations. Look for people in your team who are good at seeing the bigger picture and ask them to help.Sometimes they need to hear your plans again and again before they’ll realise how important they are – relate every decision to a few key principles. Think carefully about the “what’s in it for me” factor from their point of view when explaining the need for change.Identify 3 or 4 key principles or ‘touchstones’ – then relate every decision and discussion to “How does this fit with X?” Make the strategy simpler and easier to understand.In your next team meeting, ask team members to present information about their role and the key challenges they face, to build wider awareness.So what can you do to help? In no particular order, here are some ideas to try: It can also make it difficult for you if you are trying to introduce change and they are seeing things only from a narrow personal perspective. Or they end up not being busy because they have delivered “their” work, whilst other people in the team are creaking and crumbling under the strain. Often such team members end up doing work that is under-used because they haven’t considered the knock-on effect of what they’re doing. There are few things that can be more frustrating as a manager than having a team where some members operate in silos, focused on their own project or system without connecting to the whole picture.