Taking the Hill Together: Strategies for Building High-Performing Teams with Bill McGlashan

High-performing teams are the prized gems of the business world—highly coveted, but often elusive.

They're the height of organizational success, where individuals with diverse skills and backgrounds come together to form a cohesive unit that consistently outperforms expectations. These are the teams that possess the ability to drive innovation, meet and exceed targets, and navigate complex situations with grace. 

While businesses fervently seek these exceptional teams, the path to creating high-performing teams is far from straightforward. It involves more than just assembling a group of talented individuals. It requires the capacity to identify those with the right blend of skills and values and the ability to cultivate an environment that fosters collaboration, creativity, and resilience. 

“[Business is] all about working with people,” said Bill McGlashan, an entrepreneur and investor who has spent over three decades working in a wide spectrum of leadership roles, from startups to distressed businesses to international investment firms. “Finding the right people to work with, and finding the way to collaborate with them to do something compelling.”  

The Significance of High-Performing Teams

Teams play an indispensable role in helping organizations achieve their goals. Whether in startups, global companies, or any sector in between, teams are the engines that drive progress. They distribute responsibilities, enhance problem-solving, and foster a sense of ownership, all of which are critical for a company's growth and longevity. A strong team can effectively address challenges and adapt to dynamic business environments, making them fundamental assets to any organization.

High-performing teams aren't just about maintaining the status quo; they are catalysts for innovation and growth. These teams encourage diverse perspectives and ideas, creating fertile ground for innovation. They are adaptable and quick to seize opportunities, driving the company forward. Innovation becomes a way of life within such teams, leading to the development of new products, services, and processes, ultimately expanding an organization's reach and market share.

Collaboration is at the heart of high-performing teams. The strength of a team lies in its ability to come together, collaborate, and leverage each member's unique strengths. This collective effort leads to increased productivity and more effective problem-solving. When teams collaborate efficiently, they drive business success through better decision-making, faster execution of projects, and improved overall performance. Furthermore, the bonds formed within high-performing teams often extend beyond the immediate task, creating a foundation for enduring business relationships.

Building Teams with Aligned Interests

Aligning the interests of team members with a company's objectives is crucial for achieving sustainable success. When individuals share a vested interest in the company's mission and vision, they are more likely to be motivated, engaged, and committed. Such alignment ensures that everyone is rowing in the same direction, which is essential for achieving collective goals.

"Are we all aligned? Some of this is intuitive while some is learned—it involves a mix of instinct and judgment,” said McGlashan. “When you consider what constitutes investment judgment, there's certainly a financial aspect to it, such as whether it makes financial sense. However, from my experience I've found that what matters even more is determining whether it makes people sense. Is this group going to be able to get to the proverbial promised land together?” 

Identifying and selecting team members with aligned interests necessitates a strategic approach. It begins with a clear articulation of the company's mission and values. Potential team members should be evaluated not only for their skills and expertise but also for their alignment with these core principles. Behavioral interviews and discussions about personal and professional goals can help gauge the extent to which individuals are genuinely committed to the company's mission.

Moreover, utilizing networks and platforms where like-minded professionals gather can be a fruitful strategy. This ensures that the team is composed of individuals who are not just looking for a transaction but are committed to the long-term success of the organization.

Complementary Skills and Diverse Talents

Diversity in skills and talents is a cornerstone of high-performance teams’ success. When individuals with different areas of expertise come together in a team, it creates a dynamic environment where unique perspectives and abilities can flourish. This diversity can encompass a range of skills, from financial acumen to marketing prowess, technological innovation to strategic planning. It's this very diversity that allows a team to address multifaceted challenges from multiple angles, increasing the likelihood of finding creative and effective solutions.

Identifying and leveraging team members' unique strengths can be a strategic advantage. It starts with recognizing that each individual offers something distinct to the team, whether it's analytical thinking, creativity, leadership, or domain-specific knowledge. In practice, this involves open and honest communication within the team. Acknowledging these differences and allowing each member to contribute their expertise in their respective areas leads to a harmonious collaboration. It's about creating an environment where the value of every skill is appreciated, and individuals are encouraged to utilize their unique strengths for the collective benefit. 

“Along the journey, there are always lots of blow ups because it's the nature of the human condition and a dynamic human life. People make mistakes, act in ways they shouldn't, and sometimes fall short of the expected skills or excel in unexpected areas. The key is the ability to maintain constructive engagement and partnerships, even in the face of these challenges," said McGlashan.

Collaboration and Trust

Trust forms the bedrock of high-performing teams. It is the unspoken currency that fuels collaboration and innovation. Trust implies that team members have confidence in one another's abilities, intentions, and commitment to shared goals. When trust is present, individuals are more willing to take risks, share ideas, and offer constructive criticism, fostering a dynamic environment where creativity thrives. 

Fostering trust in a team culture requires open and honest communication. Encouraging transparency and vulnerability creates a safe space for team members to express their thoughts and feelings. Trust also grows when leaders consistently demonstrate integrity, making ethical choices, and prioritizing the welfare of the team and the organization. 

To create a collaborative and trusting team culture, organizations should promote active listening and empower team members to contribute their unique perspectives. This diversity of thought and background can lead to more innovative solutions and helps in avoiding groupthink. Leaders should also celebrate both individual and collective achievements, fostering a sense of belonging and mutual success. 

The Lasting Effects of Strong Relationships

Building high-performing teams transcends the immediate confines of a project or business endeavor. It's about cultivating personal relationships that extend beyond the boundaries of a single career stage, and this aspect is a clear marker for long-term success. While professional networking often focuses on transactional interactions, true relationship-building goes much deeper. It's about connecting with individuals at a fundamental level, understanding their aspirations, and sharing a vision that extends beyond immediate gains. This is the essence of a lasting, high-performing team. The ability to revisit and rekindle these relationships in different contexts and stages of one's professional journey showcases not just networking skill but the capacity to create bonds that endure the test of time.

“I’ve built genuine friendships over my life by working with people because I don't see work and friendship as different,” said McGlashan. “To me, if you're going to dedicate your life to something, why would you ever want to spend it with people who aren't dear to you? Even in tough situations, these connections are the real relationships that ultimately matter when striving to achieve a goal that's worth accomplishing: anything big, anything audacious, anything worth putting your very limited life into.”