Financiers in practice spend only 10 percent of the time on the quality of management within the companies in which they invest. MTs themselves also pay limited attention to this topic. A missed opportunity, when you know that as much as 80 percent of the value creation at companies is determined by the quality of management! At NOM we are therefore working to raise awareness of talent deployment.
Of course, as investment managers, we always weigh the strengths of entrepreneurs when deciding to finance a company. How is the team put together to deliver on the business plan? Do we see these people doing it? We ask critical questions, do our homework and build on experience, but the focus on motivations, competencies and the further development of talents could be better. And there is an objective and structured method for that! Since we became acquainted with the Odin Development Compass (ODC) internally at NOM, we experience how valuable it is to have more insight into our strengths and pitfalls. That is why we now use this tool for the companies we invest in.
It works!
What is special about ODC is that the method also provides insight into our unconscious drives. This is done by having participants intuitively choose from archetypal images. To be honest: beforehand I found it difficult to assess the value of this method, but it turns out that the results are often accurately characterized. With ODC you do not need to understand how it works, what is important is that it works. The results offer useful leads for both individuals and teams. With ODC you map all natural and vulnerable strengths, but also the gaps that exist and the potential that still needs to be developed. So that everyone can fulfill their best roles within the team.
Focus on strength
We all have some natural talents with which we make a difference. Just as we all also have vulnerable strengths. These are learned competencies that cost a lot of energy in stressful situations, or even lead to ineffective behavior. Furthermore, everyone has - consciously or unconsciously - potential talent that is still waiting to be developed. And, of course, there are also some gray areas: competencies that are unknown territory for us and therefore better left to others. The core of ODC is that you start focusing on strengths, i.e. natural talent and potential. After all, why waste energy on competencies that are difficult to develop if others are already naturally good at them? This is exactly what makes ODC analyses so suitable for teamwork.
Tools for growth
An ODC team analysis maps the entire force field, including vulnerable areas of concern. It creates awareness of drives, roles and development points. Moreover, such an analysis makes MTs reflect on what is needed for the phase in which the company is at that moment. After all, the early start and the pioneering phase require a different kind of balance in competencies than when a company is growing or transforming. Entrepreneurs who are aware of this can make better use of talents within their company. Moreover, the analysis provides useful handles for further growth of individual employees as well as teams. Of course, this also applies to the development of management itself; with the help of ODC, they can position and reflect on their own role.
Tool deployment
In short, we as NOM see opportunities. Both within our own teams and within the companies in which we participate. The realization that MTs in particular are important value drivers for companies - from startups to experienced SMEs - requires more insight into the talent dynamics within these managing teams. After successful experiences with other regional development companies and several successful pilots from NOM, we are therefore going to use the ODC tool more often with companies in which we invest. We will do this in collaboration with experienced coaches. The goal is to better support the MTs in their qualities and (team) development through awareness of talent dynamics. So that together we increase the chances of success.
Want to know more? Or inspired to get started with ODC yourself? Then get in touch with me!
