Howard Lubert, Managing Director of the Rowan Innovation Venture Fund, joined The Good Works Show to talk about Rowan’s investment initiatives, but also left listeners with a leadership tip.
“Smart investors invest in jockeys, not horses,” he said. “We are looking for leaders who generate the kind of strength and charisma and trust that make us want to write checks. It’s not about the cure for cancer, and it’s not about the key fob that finds your keys. It’s about the guy who can gather the troops and make things happen and generate that loyalty and trust.”
But how does an effective leader build loyalty and trust? Here are a few tips to get you started.
Encourage open communication. Allow your staff and team to speak freely about their work and their ideas. Let them know their opinions are valid and valued.
Collaboration is key. Each part of the team plays a key role in the work. Remind them that working together is critical to success. This will help form bonds and connections within the organization.
Invest in your employees. Let your team know their professional development is a top priority. The organization is only as strong as each individual member, so ensuring each employee both maintains their skills and grows in their position.
Don’t micromanage. Trust that you have put together a strong team. By giving them some freedom to do their work, you’ll show your staff you have faith in their abilities and competencies.
Promote a positive work culture. Recognize the efforts of your team, and applaud jobs well done. Show your staff you appreciate the time they put into their work, and that the organization couldn’t succeed without them.
Hear more from Howard Lupert on the Healthcare Angels podcast of The Good Works Show.