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I think the key to any successful manager is to manage to the individual and not the group. Even if it is a group project comprised of only 2 people. Different people have different needs, different motivating factors etc. Some people may require more hand-holding and may even appreciate it. But when you hold everyones hand by default, you are asking for resentment. Any team is comprised of individuals and every good coach knows this and approaches it thusly. Celebrate your successes together and manage your challenges on an individual basis. Good things will happen.