Wednesday 5 March 2014

Teams Outperform Individuals - Sometimes

Tempting though it is to think we can do everything ourselves, in fact our best work gets done with other people. We depend on the skills, experience and knowledge of others to achieve really great work.

Think about scientific breakthroughs like Crick and Watson’s breakthrough with DNA. Think about Wedgwood’s brilliant partnership with Bentley creating the world’s most famous ceramics business. Think about Jobs and Wozniak creating Apple. Although Warren Buffet is the name we recognise as the world’s most successful investor, in fact he has a long-term partner and sounding board – Charlie Monger.  Just yesterday Buffett said that he had lost $873 million with a power utility stock. This was an investment he had made without consulting Monger. Next time, he said, I’ll call Charlie. It seems everyone needs to be part of a team.

Unfortunately, though, it’s not always so easy.  Not all teams are successful. In fact some are spectacularly unsuccessful, and would do better to have people work independently. So what’s the key?

Having complementary skills and experience seems to be a big part of it. With Buffett and Monger, Buffett is the optimist and Monger the pessimist. Between them they cover all bases and make outstanding decisions.

Think about a football team. If you had 11 goalkeepers, or 11 strikers, it wouldn’t be very effective. You need defenders, midfielders, even left and right midfielders, plus strikers and of course goalkeepers. All members of the team have to be proficient in their own right, but also good at working as a team to create goal scoring opportunities. I think the football team is quite a useful analogy in business. We can’t all be strikers. We don’t all have the talent, ability, experience or inclination. But we do all have specific skills that are important within teams.

The key is to understand and appreciate what each person brings to the team, and to ensure their skills are acknowledged and used in the best way.  It’s not always easy, but perhaps a key part of achieving important things.  

What would our businesses be like if we weren’t so obsessed with taking the credit for things? They might be more effective, and a great deal happier.

29 comments:

  1. Nyallpurposepaving.com offers Paving Contractor, Parking Lot Repairs, sealing, striping, Oil and Stone Driveways at Riverhead NY, Quogue NY, Hamptons NY, Southampton NY, Sag Harbor NY, Green point NY, Wading River NY, East Moriches NY, Center Moriches NY, Mannorville NY, Miller Place NY , Mt. Sinai NY,Greenport NY

    ReplyDelete
  2. Complete pest control specializing in Rodents & Rodent Proofing, has 40 years of experience in dealing with nuisance pests such as skunks, possums and raccoons. Our business is based on honesty, integrity and reliability, so you can count on us to solve all your wildlife problems. 650-839-9999, 408-246-0492, 415-818-6301

    ReplyDelete
  3. geffnerkersch.com Divorce Attorney Nassau County NY, Prenuptial Agreements Nassau County NY. Call us now: (516) 268-9898

    ReplyDelete
  4. Bedbugprocpc.com offers Bed Bug Exterminator, Bed Bug Inspections, Bed Bug Elimination, Bed Bug Inspection for Hotels and Residential and Commercial Bed Bug at Palo Alto CA, San Mateo CA, San Jose CA, Belmont CA, San francisco CA, Redwood City CA, Sunnyvale CA

    ReplyDelete
  5. Davispestmanagement.com offers Pest Control, Exterminator, Bed Bug Removal, Inspections, Rodent, Pest Elimination, Commercial, Residential, Professional, Licensed Exterminator , Scorpion, Bee Hive, Hornet, Fire Ant Removal by Service Area, Las Vegas NV

    ReplyDelete
  6. Atopcommercialpaving.com offers Commercial Paving, Asphalt Contractor, and Parking Lot Resurfacing at Queens NY, Nassau County, Bayside NY, Jamaica NY, Middle Village NY, Ozone Park NY, Howard Beach NY, Little Neck NY

    ReplyDelete
  7. Jettonsgrading.com offers Grading, Excavation, and Paving Contractor, Land Clearing Services, Septic Systems, Retaining Walls and Driveways, Drainage Systems, Construction Site Clean-Up, Demolition Contractor at Walhalla SC, Seneca SC

    ReplyDelete
  8. Diskdatadestruction.net offers Mobile paper shredding, Mobile hard drive destruction at Hauppauge NY, Suffolk County NY, Long Island NY, Ronkonkoma NY, Melville NY, Huntington NY, Garden City NY, Farmingdale NY, Westbury NY, Bohemia NY, Stony Brook NY, Nassau County NY

    ReplyDelete
  9. Viceroy Investigations and Consulting LLC is a member of the Chamber of Commerce of the Massapequa's offer security consulting, assessments and training to large and small businesses. Let us help you design and implement policies that aid in Safe hiring, Work Place security and Information Security. Call us: 516-694-0093

    ReplyDelete
  10. Something I truly agree, working with a team is always better than working alone.
    custom logo design company

    ReplyDelete
  11. reliablecommercialpaving.com offers Parking lot paving, walk way construction, Commercial paving, asphalt, Parking Lot Repairs, Parking Lot Striping, Commercial Blacktop, Parking Lot Repairs, Commercial Paving Contractor, Commercial Asphalt Contractor at New Jersey at Hanover NJ, East Orange NJ, Newark NJ, Morristown NJ, Summit NJ , Union NJ, Hackensack NJ, Patterson NJ

    ReplyDelete
  12. Landscape , Outdoor, Landscape Lighting Installation, Lawn Sprinkler Design, Repairs, Installation, Lawn Irrigation Service, Sprinkler System Backflow Testing at Long Island, Nassau County, Suffolk County, Dix Hills NY, Huntington NY, Syosset NY, Smithtown NY and Happauge NY

    ReplyDelete
  13. johnnyontheshop.com offers Supermarket, Food , Costco ,Home depot , Supermarket home , groceries home , home delivery for seniors, shopping for seniors, Elder services, Senior services, BJS Home Delivery, Prescription Drug Delivery, Department Store Delivery, Fry’s Food Delivery, Lowes home Delivery Service at Scottsdale AZ"/>

    ReplyDelete
  14. The Center for Body Wellness offers Massage and CBD Massage at Rochester NY. Call us now: 585-266-6730

    ReplyDelete
  15. Improvesearchresults.com has helped thousands of small business expand their business through website design and search engine optimization. Since 2004, we have been industry leaders in helping business owners create their successful digital campaigns

    ReplyDelete
  16. Yankeeclippersbarbershop.com offers Barbershop, Men’s Haircuts, Straight razor cuts, Neck shave, Trendy haircuts, Barber, Straight Razor shaves at Augusta GA. Call us now: 706.496.3342

    ReplyDelete
  17. HandRails | Security Cages | Steel Coating | Custom Ironwork | Welding at Tucson AZ
    Keywords: tool fabrication Tucson AZ, custom awnings Tucson AZ, HandRails Tucson AZ,
    Decorative HandRails Tucson AZ, Security Cages Tucson AZ, Steel Coating Tucson
    AZ, Custom Ironwork Tucson AZ, Ornamental Handrails Tucson AZ, Welding Tucson
    AZ

    ReplyDelete
  18. Great work, thanks for sharing.

    I am happy to see your blog, thanks for sharing it with us.

    Law Coursework Writer

    ReplyDelete
  19. Realestatebydavidschoelles.com offers David Schoelles Real Estate, Cash for Homes at Arizona, Scottsdale AZ, and Phoenix AZ

    ReplyDelete
  20. johnniescarwashonoak.com offer Best Car Wash on Long Island, Detailing Centre, Car Detailing, Brushless Car Wash, Full-Service Car Wash, Car Detailing, SUV Detailing, Best Car Wash, Auto Detailing, SUV Detailing, Lease Return Detailing at Copiague NY, Lindenhurst NY, Amityville NY

    ReplyDelete
  21. davidschoelles.net offersDavid Schoeless Plumbing, David Schoeless at AZ, Scottsdale AZ, Phoenix AZ

    ReplyDelete
  22. Carpet, upholstery cleaning, carpet stain, odor removal, carpet steam, ceramic tile, commercial carpet cleaning at mobile al

    ReplyDelete
  23. norwalkfloorsanding.com offers Wood Floor refinishing, Installation, Oak Floor Refinishing, Staining, Flooring Contractor, Wood Floor Sanding, Residential Wood Flooring in Norwalk CT

    ReplyDelete
  24. Kitchen cabinets and Kitchen cabinet supplier, remodeling, countertops, New Kitchen Cabinets, Wood Kitchen Cabinets

    ReplyDelete
  25. Mold removal, remediation, inspections, treatments, water damage restoration, and crawl space encapsulation at Gainsville GA, Houston GA, Jefferson GA, Brazerton GA, Winder GA

    ReplyDelete
  26. Fleet Tire Repair Service, Mobile Truck Tire repair, Fleet Roadside Assistance and Mobile flat Truck Tire repair at Queens NY

    ReplyDelete
  27. eandmconcrete.com offers, Commercial Concrete Dallas OR, Commercial Construction Dallas OR, Call us now: 503-949-5195

    ReplyDelete