“Group CEO of Inc and Coaching” is a new concept that I have coined as my business theory. Coaching is a practice, which has evolved itself in recent years. Today the idea of a group is used by small business and organizations to create a platform for collaboration, communicate effectively, and implement change successfully. Group ownership is a growing industry, which will likely evolve further in the future as companies discover new ways to leverage the assets of their employees.
To start with I want to define “group ownership”. In a nutshell it is a concept that I define as a way to create a company (or team) where each individual (group leader or team manager) is empowered to make decisions, share responsibility and hold the company accountable to its community of users. I call this “ownership”. It is a rather self-explanatory term, but I encourage you to read more about it so that you understand what I am trying to explain. The model can be applied at all levels of organization, from small companies with 2 owners down to large organizations with thousands of employees. By creating a company with a series of smaller groups within an organization, we can collectively share ownership while still maintaining employee accountability Group CEO of Inc & Co.
Now let’s look at how Group CEO of Inc & Co can benefit organizations. Here we see leaders utilizing their ownership model to pool resources, communicate effectively, solve problems, develop strategies, and keep everyone motivated. In addition, leaders are responsible for determining how much they spend on a regular basis, setting performance goals/reviews, and determining who among their team members receive bonuses. If the leader wants to increase productivity, then he has to delegate those responsibilities to his team members. Here is a short list of examples that I provided to illustrate how this model can work in your organization:
* Design a competitive strategy that allows your team members to pitch in on solutions that your leaders are willing to invest time in. For example, if the leader is a photographer, he might invite photographers from his team and suppliers to pitch in with their solutions. This will allow each team member to receive credit for his part in the strategy and free up the company for the next strategic initiative that the leader may want to launch.
* Work closely with each of your team members so that you achieve good communication. Communication is critical for building trust among your team members. When working with your team, communicate regularly with them. Remember that “urgency” means different things to different people. You can use these phrases as a guide to communicate with your team effectively:
* Communicate your company vision & mission. Share this with your team. Have them explain what it is that you want the future of the organization to be like. Make sure they understand that the reason you are asking them to join is because you want them to help create that future for the company.