Cannabis firms: two heads are usually better than one
Cannabis is too complicated for individual performers
"If you want to go fast, go alone. If you want to go far, go together." – African Proverb
A cannabis companies won’t succeed if they can’t deliver on their strategic vision let alone consistently execute their day-to-day activities. Simply put, the better your teams the higher your operating performance – and ultimately market success.
Its a simple idea that’s often difficult to achieve in any business let alone new, fast growing (or fast shrinking) cannabis enterprises.
How do you leverage the power of teams?
First off, your organization needs the basics such as a shared operating or strategic plan and the presence of collaboration & knowledge management tools. Everyone must be at the starting line together.
Then, your team success will boil down to how leaders design, staff and oversee their teams. Here are some best practices I’ve come across in the cannabis sector:
- One size does not fit all.
Your teams should reflect the criticality of the task at hand. For example, an enterprise-wide change management initiative should include representatives from each functional group and from various hierarchal levels. Reengineering a sales process could just involve the sales team.
- Teams will have their own micro cultures (norms & practices) within the broader organizational culture.
Great teams foster a unique esprit de corps based on their member’s individual skills, focus areas (internal or customer facing) and habits.
- Like a sports team, care must be paid to team recruitment.
Leaders should prioritize diversity, in terms of function, background ('roots' and 'suits') and thinking styles in order to enhance problem solving and avoid groupthink.
- To be productive you need to employ the right tools and communication vehicles.
Performance is amplified when project management methodologies guide tasks, there are clearly defined decision rights and leadership-focused dashboard reporting is mandated.
Managers also need to be mindful of what can go wrong with teams. For example:
> They are not always the best solution.
Some projects are best handled by individuals (with input by others), when the objective is relatively straightforward, or when the outcome requires single point accountability.
> Teams can magnify political infighting when participants have problematic working styles or put functional needs ahead of corporate goals.
> These structures can easily become sclerotic due to excessive bureaucracy or lack of member engagement. Leaders should regularly gage the ‘health’ and performance of their teams.
#teamwork #collaboration #management #operations #leadership #execution