Tips & Strategies - Delegation & Accountability
Imagine this: Your team is crowded together around a small table. It's so noisy you have to shout to hear each other. Everybody is staring at the screen and reads that a company just announced spectacular profits. This is a golden opportunity! Everybody immediately agrees, "We need to buy and buy now!"
Now the questions start flying - How much should we buy? How much money do we have? Should we sell stocks to raise cash? Which stocks should we sell? Who is going to run the order over?
While your team is figuring out what to do, time is passing and other teams are getting their trades in. When everybody else is buying for $25, you end up paying $32. When the stock hits $40, you've made a profit of only $8 per share while they made $15!
This scenario happens all the time because teams aren't organized.
The next few pages contains a sample of roles, their responsibilities, and the skills required. There is no requirement on how you organize your team. After all, this is your team!