How to use small teams to accelerate your growth initiatives.
I was having a conversation with the CEO of a major media company yesterday. We discussed many topics (the unexpected benefits of video chats, optimism for the future, consumer revenue vs. ad revenue, what’s next for magazine media, etc.). However, It was growth initiatives and the small teams to focus on them that were still on my mind this morning.
As business leaders, we are continually looking for opportunities to diversify and grow revenue streams. We understand (or should realize) that not all initiatives succeed at first, and having the right people on the project is essential to finding the path to success. Teams need the freedom to fail (cheaply) and the ability to learn from failure.
I am a big proponent of starting with small, dedicated teams and then rolling out successes to the larger organization. This tactic has worked well for me and essentially applies John Kotter’s eight steps to leading change to a business development playbook.
Small, dedicated teams should understand each project's sense of urgency and be rewarded for the new initiatives' success. They will be vital to enlisting the “volunteer army” when rolling out the project to the broader organization as they have been in the trenches and can speak, with conviction, to the plan's benefits.
How do I build a “skunkworks” team? At Bonnier, I started by pulling one person out of their current role and reassigned them to business development. The position was ambiguous at best, but I knew that this individual was both creative and resilient and would overcome the challenges that were sure to block our path. I provided direction, resources, and support. A key component of our success was that we had the unwavering support of our centralized teams (web dev & production, ad ops, and analytics) and others within the organization; they were as committed to our success as we were. Naysayers can quickly thwart your progress if you don’t have buy-in across the company, so clear communication and coalition-building are key.
The small group grew as we dedicated more resources but remained lean and agile. Agility was critical as we could quickly adjust when things didn’t go as initially planned and led to many more successes than failures. I could focus on tracking progress, removing barriers, funding projects, and communicating the benefits of our work. The team’s job was to secure more wins, and the wins were big.
You, too, can start small. Knowing the strengths and weaknesses of your teammates will help you decide who to enlist for your projects. One can be enough if they are 100% dedicated to the cause and have access to bandwidth from other company areas. Support them, help build the coalition across your organization, and most importantly, let them know it’s ok to fail. Failure means they are trying something new. Pretty soon, you will have people lining up to join these teams.
