James River Capital was founded back in 1986 under the name KP Futures Management, and is based in Richmond, Virginia. Initially, it served as an alternative investment department at Kidder, Peabody & Co., but it became an independent investment firm in 1995, when two senior officers in the department, Kevin Brandt and Paul Saunders purchased the business from Kidder. As of July of 2018, James River Capital was managing more than $570 million in James River products.
Recently, the firm made a post on their official blog talking about leadership, and bringing up 3 tips that can help entrepreneurs improve it. The post states that being a leader is an art and a science, and that it takes skill and development in order to be able to lead and to manage a team effectively. Despite the fact that it takes time and effort to become a great leader, there are simple changes that can make a difference. The post is based on studies conducted by researchers who tried to figure out what the most effective leadership strategies look like.
The first out of the 3 suggestions is to support your team and not lead them. Leaders at Facebook are using this strategy in order to make a mentality shift, and instead of leading the team they are supporting it. This simple shift in can change the interactions between the leader and the team and can also change the way the leader sees its role. Learn more: https://investor.com/rias/james-river-capital-corp-133297
The second effective tip is to encourage and to welcome escalation. Studies showed that approximately 85% of employees withhold feedback from their bosses. More often than not, if workers think they can get in trouble by coming to the leader with an issue they will choose not to do it. That is why transparent and open communication can lead to innovation, collaboration, and engagement between employees and employers. Research showed that Google discovered the idea of “psychological safety”, which is an important thing for leaders to focus on creating. The concept means that the way the leader operates ensures that employees feel safe coming to them with their problems, improvements, or challenges.
The third and final tip points out that everyone’s opinion matters. Due to the fact that a leader’s job is to support the team, it is important to remove obstacles, one of them being the fact that team members can hold themselves back. During a meeting, it is important to ensure that everyone gets the chance to speak. One way for a leader to make sure of it is by simply using a list of everyone who is attending and writing down which members got to speak. Using the list, the leader can make sure to engage the team members who tend to be more quiet and ask for their input.