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AZ Tech Roundtable 2.0


AZ Tech Roundtable 2.0 with Matt Battaglia

The show where EntrepreneursTop Executives, Founders, and Investors come to share insights about the future of business

 

AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving

Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more… 

 

AZ TRT Podcast Home Page: http://aztrtshow.com/

‘Best Of’ AZ TRT Podcast: Click Here 

Wealth for Life: HERE

 

More Info: https://www.economicknight.com/azpodcast/

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Sep 14, 2022

Management Accelerator w/ Dave Kline

- BRT S03 EP44 (143) 9-11-2022

 

What We Learned This Week

  • How to Recruit, Manage & Delegate - Need to Set Expectations, the 'How'
  • Find & Hire the Best Minds
  • Vision of the Co. - Remove Friction to Get to the Result Faster

 

Guest: Dave Kline

https://www.linkedin.com/in/davidkline/

https://maven.com/dave-kline/new-manager-accelerator

 

 

Bio: (x-Bridgewater Associates, x-Moody’s Analytics, x-PwC Consulting) has run large, global strategic and operational teams for the last 2 decades. He has a BSEE from Bucknell University and an MBA from NYU’s Stern School. Find him on Twitter @dklineii or LinkedIn, writing about management tactics, leadership lessons, and the evolution of online learning.

 

Your Codified Management Playbook

Convert your intuition to intention and develop your system to lead high-performing teams.  

Develop the CODE of your management system: coach, operate, delegate, & engage.

 

Leave with a decision making system tailored to your individual management style.

 

How A Manager Creates Value

We start with a foundation of what makes managers unique: mindsets to master, abilities to develop, skills to hone.

 

Recruit High Performance Teams

We examine optimal role designs for different functions and tactics required to attract and retain the best talent.

 

 

 

 

Notes:

 

Entrepreneurship - mindset, starting your own biz

Management - vision, managing a Team, scaling a biz 

Recruiting - building a Team

Building a Brand - PR, Mktg 

 

Lessons from Corp. America - Bridgewater, NYU Stern, Moody's, PwC

data, using tech, running large org, keeping plan in tact 

 

Seg. 1

Dave background is in consulting. He worked at Moody’s, they are rating services, for bonds and other financial products. Moody’s has a mission statement and 10 principles. The move in financial services the last 10 years plus is into tech. Moody’s had a very large AI department.

Bridgewater was a client of Moody’s, the Dave worked with, and eventually got a job with Bridgewater. Bridgewater is one of the largest hedge funds located in Connecticut. Their mission statement is principles through radical truth and radical transparency. They are a data-driven financial firm. Dave worked there for almost 10 years was the CEO of a department.

Bridgewater was created by Ray Dalio and is one of the most unique organizations around. They are very big on data collection, and have their own internal set up which provides synthetic feedback about employees. Data or dots are collected on employees and it provides and receives feedback daily.

Hedge funds compete with each other in financial markets it’s a zero-sum game where you have to find out for in the market and when you make money, someone else loses money. Bridgewater had a culture built on dialogue where they would find and hire the best minds.

Seg. 2

The machine of an organization is a combo of people and processes to get outcomes. You see what works, you measure and you get feedback. It’s all about design, then test, then iterate. You want to determine what’s predictive to become a system.

In recruiting, difficult to determine a predictive pattern of ops. A new hire for the first six months is an expense. The next six months the new hire grows. After year one that’s when you start to see returns on a new hire. Bridgewater is very good at taking a long view, and thinking and not only years but decades.

The Bridgewater investing philosophy was on macro trends, fundamental basis, and long term. Long-term thinking also is part of their culture and processes.

The average investor, it’s tough to compete with big hedge funds, who have armies of people and data. Single investor really does not have those types of resources to compete. Single investor if they take the long term, get good at capital preservation and wait.

Seg. 3

Entrepreneurship, you can either be a start up and create a business, or do growth by acquisition. This is pretty typically buying a business, or franchise (business idea). Dave wanted to go into entrepreneurship decided he wanted to teach. He knew that if he bought a business he could take the 10% they currently have take it up to 90%. His thinking was buying into a growing market, this turned out to be the digital space. What Dave teaches us how to recruit, how to manage, how to delegate, how to set expectations.

Dave typically has three types of students, the ones that are new managers from 0 to 3 years. Second level is managers with 5 to 10 years experience, they’ve been faking it so now they need systems. The third group are founders and CEOs, have a business that’s 20 to 200 size staff. These founders do not have a manager background need to learn the process. It’s a four-week program, for they meet live two times a week, on Tuesday and Thursday at 11 in the morning.

A Business study shows that 60% of managers will be fired within 18 months. Learning to manage and running a business is like getting a real-world MBA. School does not prepare you for this. These managers need more training hence they can go to Dave Kline’s manager accelerator.

What we think of managers, the idea that if you good at it you can also then manage people is false. So if you’re a good software design are, does not mean you can manage people. It’s the reverse, you don’t have to be the best software designer, to be a good manager of the software team.

Seg. 4

Determine the vision of the company, what’s your mission? Design the company and recruit the types of people you want to work there. Remove fiction to get to the result faster. Good analogy is studying next say then, head coach of Alabama. Always talks about the process and having systems for everything you do. Also a master recruiter, really knows how to look for talent.

Then knows how to sell them on playing at Alabama. Telling recruits were to win with or without you, but it will be better if you’re there. Also the talk that since Alabama has so much talent you may or may not play. When it be better to know that even in practice you are competing against the best, prepares you for life and going pro. Sabin checks the character of all recruits, talks with seven people they know before he even talks of the recruit.

This is like an example of recruiting businesspeople is doing your research and checking their references. Dave recommends that you hire short-term freelancers for a project first. See if they can complete and work through the project, then bring them on full-time.

You want on board all recruits well. In month 1 they’re working just to get comfortable and build trust. In 90 days you should really know if recruit will last long term. They shadow long term employees in month 2, learn and start their actual job. By month 3 they’re doing the job on their own but with review.

The key to delegation, is setting clear expectations. The ‘how’ parameters you want an employee to work within. It’s good to co-author the expectations with a team so people are involved. Problems usually occur at the distance between comparing reality with expectations. The work comes up front, you need to unlock potential of the people who work for you. This involves a plan and organization.

 

 

 

BRT Marketing: HERE

 

BRT Business: HERE

 

More - BRT Best of: https://brt-show.libsyn.com/category/Best+Of

 

 

Thanks for Listening.

Please Subscribe to the BRT Podcast. 

 

 

Business Roundtable with Matt Battaglia

The show where EntrepreneursHigh Level Executives, Business Owners, and Investors come to share insight and ideas about the future of businessBRT 2.0 looks at the new trends in business, and how classic industries are evolving

Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more… 

BRT Podcast Home Page: https://brt-show.libsyn.com/

‘Best Of’ BRT Podcast: Click Here

BRT Podcast on Google: Click Here

BRT Podcast on Spotify: Click Here                   

More Info: https://www.economicknight.com/podcast-brt-home/

KFNX Info: https://1100kfnx.com/weekend-featured-shows/

 

Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.