- How To Build Your Company’s Team for Success
Every savvy entrepreneur starting a new company analyzes all the moving parts to their business and decides how to manage everything to achieve the all-important goal of success through sales. This process does not happen overnight, and requires hours of thought and planning. No one person can do everything alone, so you must decide what tasks to tackle yourself and what to delegate to more knowledgeable people. This is called team building, so let’s start with some basics.
What is a team?
According to Business Dictionary, a team is “a group of people with a full set of complementary skills required to complete a task, job, or project.” This definition further explains that “a team becomes more than just a collection of people when a strong sense of mutual commitment creates synergy, thus generating performance greater than the sum of the performance of its individual members.”
The following attributes that comprise a stellar business team are:
- Team members are highly interdependent; members rely on the expertise of everyone in the group to achieve a common goal and share in the rewards of that success.
- They personally assume responsibility for self-management and share authority.
- They are collectively responsible for performance and outcomes.
So … how do you find the right people for your new team?
1. Inventory all the tasks that need to be done, and decide how they will get accomplished and by whom.
One of the most basic concerns when you are opening a new business is a deep, soul-searching question: What abilities do I bring to the success of my company and where do I need someone else’s knowledge and prowess?
You have invested many long hours, and probably a not a few sleepless nights, doing all the work of establishing your company. But, where do you go from here?
You established your business around a product or service type, using your creativity to produce something you believe will hugely benefit consumers in your industry sector. However, you cannot achieve business success as the Lone Ranger. Remember, even the Lone Ranger had the faithful assistance and loyalty of Tonto because there were times when he just could not be in two places at once. There are only so many balls you can keep in the air as you try to juggle all the responsibilities associated with your business, and you really don’t want to drop any balls if you can help it.
2. Look for people who understand your product or service and believe in it.
You could hire someone with an impressive set of skills and experience in the work you need from them. However, if they lack real faith in your product or service, they will also lack the commitment necessary to add value to your company, especially in the challenging times.
3. Remember that it can be risky business to hire personal friends in your new company.
As you build your “core team,” it is important to work with people who will be totally up-front and honest with you, and not just play the part of “pumping you up.” It feels good to work in an atmosphere of positive energy and camaraderie, but there is a point at which people have to be fearless in telling you that an idea you just shared stinks. You may have a friend who’s that open and blunt with you. One way or another though, the trials and tribulations of that new business may either harm your friendship, or your friend could create unnecessary problems for your business.
How do you scale your new business for success without killing it?
Forbes Magazine identified the most significant cause for business start-up death as premature scaling, as in scaling up. The fact that business success has always centered around a company’s ability to expand effectively is a no-brainer.
According to an article on the Entrepreneur website, a start-up company may experience rapid growth because of booming sales, but all that growth presents a variety of organizational and managerial challenges. One of those challenges involve financially managing the growth.
The most basic advice to manage company growth is this: establish a budget. Within this budget, consider how to reduce overhead costs. One way to manage overhead costs is to outsource some of your manpower.
Wayvana solves one team-building issue – the marketing skill set.
Before you even start hiring your company team or planning your company’s long-term future, there is one essential need – marketing and sales. Your start-up company will go nowhere without this foundational expertise.
You need to either hire a team member with all these skills, which could be a hit-or-miss proposition, or partner up with a company possessing all the ready-made skills necessary to put your company on the map and make your expansion a foregone conclusion.
Add Wayvana to your start-up team to affordably make your company name a byword in your industry. Check out our pricing that starts at the low end of a marketer’s salary. Our services give you the time and peace of mind to manage all the other aspects of your business.