Our best chance of success in an uncertain economy

The papers this morning give us little reason for optimisms. Words like crisis, mayhem and double dip recession still fill the digital pens of many journalists. How much is media hype and scaremongering and how much of what is said and written is fact based only time will tell.

I would agree, however, with those who believe that uncertain economic cycles and structural changes make for a future that is quite different from the past last half century and the experience of the past may not adequately predict the future.

Vis-à-vis recent events I fear that most business plans may be written on sand and financial projections could turn out to be mere wish lists.

I find somewhat contradictory that, despite entrepreneurs are often celebrated in business literature for their strength of character and personal qualities, due diligence is generally based on the review of business plans and numbers, on background checks and financial projections rather then on “emotional due diligence”, a comprehensive research of people hearts and mind and their ability to work together.

At the end of the day in a very uncertain environment the most important asset of any organization lies within its team; and the team’s commitment and sense of mission, its resilience and especially the chemistry between team members: for sustained high performance the space between people often matters most than people themselves.

A team that works in harmony is far more likely to overcome obstacles and sustain performance in the face of uncertainty and when facing turmoil. A team that needs a lot of effort to function is likely to break down when times get rough. Demanding relationships drain energy and resources and can suck life out of the new enterprising activity.

In the past these inter dynamics where hard to predict and you could benefit only from the wisdom of hindsight. Experience and gut feelings were possibly all we could count on. Thankfully we have new tools coming on the market that can help.

I recently met with Bruce Lewin, Director of Four Groups Ltd., the London based consultancy that has developed a psychometric designed to predict, among others, the degree of ease or difficulty between members of a team.

“Our ongoing research is showing that quality of relationships accounts for an increasing proportion of organization’s performance. At Four Groups we believe that one of the best forms of competitive advantage (and one of the most under looked) is through people and their work together.”

To explain Four Groups research, Bruce then showed me a demonstration of how their “4G Visual Team Builder” can guide entrepreneurs and investors in creating the best possible teams.

In a time like the present time, weaving the right teams together seem more crucial than ever before.