10 manager skills in a Corporate Venture Builder

February 27th, 2024

In the dynamic world of corporate venture building, where innovation and agility are key, the role of the manager becomes more crucial than ever. This figure represents a vital element in leading teams towards achieving goals, creating an environment conducive to creativity, collaboration, and effective project execution.

While there may be parallels with profiles found in other business models or large corporations, we find it interesting to break down the functions and delve into the details of some of the skills necessary to perform this fundamental role in a model like ours.

Beyond traditional responsibilities, a highly effective manager possesses a set of key skills that make a difference in leading innovative teams and projects:

1. Strategic Leadership

Strategic leadership involves the ability to think long-term and understand how current actions will impact future objectives. A manager with a strategic mindset not only sets clear goals but also guides the team to see the bigger picture and understand how their individual contributions align with the company’s overall vision. Specifically at Byld, as a manager, you are also the main ambassador of the methodology, defending it vehemently and adapting it as needed for each project.

2. Management and Multidisciplinary Teams

In a Corporate Venture Building environment, as in startups or our own ventures, teams tend to be diverse in terms of skills and backgrounds. The manager’s ability to manage diversity, foster collaboration, and leverage the unique combination of individual talents is crucial. This involves recognizing and appreciating each team member’s strengths and fostering an environment where everyone feels valued.

3. Impactful Communication

Impactful communication is not just about conveying information clearly but also about inspiring and motivating. An effective manager uses communication to align the team with the company’s vision, create a sense of purpose, and build trust. Additionally, they actively listen and provide constructive feedback.

4. Quick and Effective Decision-Making

In a venture building environment, decisions must be made quickly. An effective manager rapidly evaluates available options, uses data and analysis to support decisions, and takes responsibility for the outcomes. Effective decision-making also involves learning from mistakes and adjusting the approach as needed.

5. Adaptability and Resilience

Adaptability and resilience are crucial skills in a constantly changing business world. An adaptable manager adjusts to new circumstances, embraces change, and guides their team through uncertainty. Resilience involves maintaining composure under pressure, learning from challenges, and leading with optimism even in difficult times.

6. Innovation Facilitation

Facilitating innovation involves creating an environment conducive to creativity and disruptive thinking. An innovative manager encourages experimentation, values out-of-the-box ideas, and provides resources and support for the team to explore novel solutions. It is also crucial to accept risk and learn from failures in the innovation process.

7. Negotiation Skills

Negotiation skills are essential in a corporate venture builder, where collaborations and agreements, both internally and for new business or project continuation, are fundamental. A skilled negotiator understands the needs and motivations of all parties involved, seeks mutually beneficial solutions, and has the ability to close deals that drive project success.

8. Empathy and Servant Leadership

Empathy and servant leadership are fundamental for building strong relationships within the team. An empathetic manager understands the concerns and aspirations of team members, creates a positive work environment, and is willing to provide support when needed. Servant leadership involves putting the team’s needs before one’s own and working for the development and success of others.

9. Time Management and Prioritization

Efficient time management is essential to meet deadlines and objectives. A successful manager prioritizes tasks based on their importance and urgency, allocates resources effectively, and helps the team stay focused on key goals. Additionally, they know how to delegate responsibilities intelligently, which is not always straightforward.

10. Continuous Development and Mentoring

Continuous development involves investing in the professional and personal growth of team members. An effective manager identifies learning opportunities, provides guidance, and fosters an environment where learning and constant improvement are valued. Mentoring creates a bridge to share experience and knowledge, strengthening the team’s ability to face challenges and grow professionally.

When combined, these skills create a comprehensive and effective manager in the challenging context of a corporate venture builder. Each contributes to the overall success of the team and the company. They are not isolated attributes but interconnected gears working in harmony to achieve success in the exciting journey of corporate venture building. In every challenge and achievement, the manager who masters these skills becomes the catalyst that transforms innovative ideas into successful business realities.

And, which of these skills do you consider most essential in your experience?

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