The majority of meetings should be discussions that lead to decisions.

Great teams argue. Not in a mean-spirited or personal way, but they disagree when important decisions are made.

Are your people uncomfortable during meetings and tired at the end? If not, they're probably not mixing it up enough and getting to the bottom of important issues.

Meetings are the linchpin of everything. If someone says you have an hour to investigate a company, I wouldn't look at the balance sheet. I'd watch their executive team in a meeting for an hour. If they are clear and focused and have the board on the edge of their seats, I'd say this is a good company worth investing in.

On great teams - the kind where people trust each other, engage in open conflict, and then commit to decisions - team members have the courage and confidence to confront one another when they see something that isn't serving the team.

You need to make sure you hire people who are capable of being strong team players. Team members should fit the company's culture, be committed to the team, and be capable of being genuinely vulnerable and selfless.