What I have decided to do is try to regularly blog about what business lessons I have learnt or reinforced to me during each week. Now the acronym is BLOW (Business Lesson Of the Week ) is probably not the best but it will work I guess.
So this weeks lesson is how important it is to make sure people commit to agreed goals, now setting goals is a well document business process but it surprising how often a group of people sit around a table get very passionate about the new company and what great things it will be doing in the future but then have no real action plan once they leave the room.
The other important issue is to make sure all parties as individuals define those goals to the group and then also define what the reward is for making the goal and what the punishment is for not making not. Yes you need both and it must be the person themselves setting the reward and punishment for the goal, if the rest of the management team doesnt like it thinks its not enough work for reward etc or punishment is not enough then they should speak now and come to the right level of agreement.
The punishment could range from having to buy the team lunch up to forfeiting cash or even the shares in the business. Of course the team may explain when it comes to punishment a chance to redeem themselves. Its funny how when I use this technique with a team when a person says that they can definitely do something but when the push comes to shove and they could lose their weekly wage how the story changes.
A startup relies on people getting things done and not being distracted by other goals, make sure people in your management team are goal driven to the bigger picture.