Trust, but Verify

President Reagan has been attributed with this famous philosophical statement in connection with the nuclear arms treaty with the old Soviet Union.

What can Entrepreneurs learn from that?

As Entrepreneurs start building a solid leadership team for growth, they have to rely on and trust their key management personnel. But is that enough to ensure superior performance and growth?

While trusting the leadership to do the right thing, the Entrepreneur must also oversee the building of management reporting systems that independently verify the progress made by the company in established metrics. Such systems should have checks and balances to ensure that verification can be relied upon.

Trust is essential, but verification is paramount for long-term success. This is similar to a previous post on People or Process Dependency. Trust is people based; verification is process based.

Entrepreneurs, trust your people but do have verification systems in place.

Ravi Patel

Advertisements

The URI to TrackBack this entry is: https://bloggerravi.wordpress.com/2011/08/15/trust-but-verify/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: