In a previous post, we talked about the value of triads. The most successful business owners use triads to succeed. A triad is more than a meeting of three people, it’s a mutually beneficial relationship. If you haven’t checked out the previous blog post on the advantage of triads, make sure you read that for insights on how triads can be beneficial. Triads are an important part of tribal leadership, so make sure you understand their role within the larger tribe.
However, a successful triad requires more than a “set it and forget it” approach. In order to succeed, you need to know what not to do.
Here are 5 common mistakes made by members of triads. Learn how to avoid these, and you can develop your tribal leadership and achieve your goals.
1. Not Trusting the Triad
A typical corporate culture consists of a dyadic relationship. It’s a “hub and spoke” model. In this model, individuals communicate one-on-one with other individuals. They tend to be protective of their individual relationships. In a hub and spoke dyadic model, leaders struggle to give up control and delegate tasks. Or sometimes the opposite happens, and the workload is one-sided and unevenly distributed.
However, in a triad model, each individual is responsible for the other two individuals. Each individual must contribute to the other two persons, as well as receive contributions from them. When done correctly, this leads to focusing on common goals and growth, as opposed to one-sided, individualistic pursuits.
This is how the ideal triad should work. However, like all relationships, it requires work. You need to trust the members of your triad. That’s easier said than done. For many of us, the traditional hub-and-spoke dynamic is how we’re used to being managed and how we are used to managing others. An effective leader will understand the strength of a triad. Even if you are forming a new triad, it’s important to trust the process. When done correctly, the sum of the triad will be greater than its parts.
2. Having No Set Strategy
Every triad needs a strategy; if you don’t yet have a strategy for your tribe, you can develop one by having the right conversations.
There are 3 conversations every triad should have. As a triad, the conversations you should have include:
- What outcomes we want
- What assets we have
- What you we do
What outcomes we want refers to what your desired goals and outcomes are for your triad.
What assets we have refers to what you can use to accomplish your goals.
What we will do refers to what behaviors and actions you will take to achieve your desired outcomes, as well as who will do what.
3. Using the Same Unchanging Strategy
Having a strategy also means periodically evaluating that strategy and seeing what is working and what is not working. With the latter, you need to determine what you can do to make the not working things work.
Your triad should also take the time to see that its core values are being acted upon. A core value is any principle that your triad considers essential. Core values serve as fuel to get your tribe towards their noble cause. If your triad’s core values have not been identified and leveraged, your triad cannot be successful.
If you’re a member of a leadership group like my NYC Vistage groups, I am there to help you with your strategic planning, as well as help you re-evaluate your strategy.
4. Not Owning Their Role
Triads work best when everyone owns their role.
In the event of a conflict within a triad, it’s the responsibility of the third person to mediate between the other two parties to help resolve conflict. Ideally, each member should be holding the others accountable, which in turn leads to a mutual sense of trust, respect, and understanding. When implemented correctly, there is a balance of power within a triad.
Each member of the triad needs to communicate what they need and why. Sharing these resources and the expertise of each individual strengthens the triad.
However, stepping into your role is easier said than done. A Vistage coach can help provide you with the confidence you need to own your role in the triad.
5. Ignoring the Value of a Vistage Coach
There’s a reason why we keep talking about Vistage coaches. A Vistage coach is invaluable. Vistage is the largest leadership development organization for executives, business owners, and CEOs of small to midsize businesses. These are the businesses that really need the support and feedback of their peers. A coach can help you build and develop your triad, as well as help you improve other aspects of your leadership.
If you haven’t used a business coach or been a part of a peer group, you may have your doubts, but the statistics don’t lie; those that work with a coach grow their net income by 46%. Over 62% report setting better business goals. Over half felt they were more confident.
Overall, a business coach can be one of the most important relationships in your life. That is why I always advocate for an experienced coach and support network, like a Vistage group.
There is no shame in seeking advice and support from others. The most successful leaders and business owners do it.
Bottom Line: Don’t Make These Triad Mistakes
Even the smartest leaders can fail without the right support system. If you’re struggling with your business, how would a smart group of supportive peers help? What could you achieve if you had the right support system of fellow CEOs?
That’s a question I encourage you to find out for yourself. I would like to invite you to experience this support system yourself by coming as a guest to one of my Vistage NYC groups. If you’re a CEO, business owner, or executive with 25+ employees who is passionate about learning and wants to set a new standard for your business, fill out this short form. As a Vistage coach, plus the support of your peers, we can help you grow personally and professionally.