Ever noticed how some companies seem to flourish – they are the companies that do well, they grow from strength to strength.  There are particular companies that Venture Capitalists are jumping to support!  There are companies out there setting the bar, leading the way for other companies.  Even within companies, we can see evidence of strong teams, with strong results – made more obvious when compared with teams that don’t seem to have cohesiveness or demonstrate strong results.

What is the secret of successful companies

What makes some companies better than others?  What makes some teams perform better than others?

If you answered people, you would be correct!  If you know anything about me from my business writing, you will know that I think staff are THE most important part of any company.  But that is not just the end of it – why do some companies seem to attract great staff, have great morale and produce exceptional results?

So the big question is – how does a company find these extraordinary staff?

The Golden Rule for employers

The golden rule is very simple – hire good people!  Seems simple doesn’t it, but there is a trick to ‘hiring good people’.  This is where the shame lies – any good business book will tell you that Venture Capitalists will only deal with good managers – the product, the service, the idea, the action plan: none of them matter if the management is not top shelf.

Make sure you are always hiring someone who is better than you!  In fact – Venture Capitalist Glenn Fuhrman stated it perfectly:

“I only ever hire ‘A’ players for me and my companies. If I hire ‘A’ players, they will hire ‘A+’ people below them. If I hire ‘B’ players, they will hire ‘C’ players below them. ‘A’ players don’t get threatened by better people below them; ‘B’ players do.”??- Glenn Fuhrman (http://www.forbes.com/sites/ericjackson/2011/12/14/the-best-advice-ive-ever-received-about-hiring-talent/)

This trick is the one thing that many bad managers fail to grasp, in fact many managers are so insecure or full of fear that they completely fail to build strong foundations through surrounding themselves with weak staff.  A bad hire today can lead to a legacy of bad hires for that particular company, function or group. Something not easy to undo down the line.

What is your management structure like?  Are you managers confident in their own unique abilities?  Are they able to work with brilliant people without feeling threatened?  If not, you have some work to do!  Next time you are hiring staff, ensure that you are seeking the person who will raise the game!