Every year, untold numbers of businesses are launched across the United States, and the unfortunate truth is that most of them will fail. Why is it that some businesses thrive and grow, while most close-up shop within a few years?
There are many factors, including access to capital, understanding one’s marketplace, an ability to innovate, and—not to be underestimated—some good old-fashioned luck. But there is one factor that nearly all business owners can control that may directly determine long term business success: hiring the right people and coalescing them into a successful and powerful team.
What Is the Purpose of a Team?
Behind any business success lies a great team. This formula applies to startups as much as it does to international giants. A team exists to allow an endeavor to grow, scale, and thrive in a way that would be literally impossible for one person to do.
A successful team starts with hiring the right people—those who value working toward a common goal, are goal-oriented, and respect the hierarchical structure that most businesses require.
Once the right people are in place, the goal is to bring them together into a cohesive unit.
Why Is It Important to Build a Strong Team?
Even the most innovative entrepreneurs understand the vital role of teamwork in transforming an idea into a successful venture. One person alone cannot manage the multitude of tasks required for business success.
To ensure your business idea flourishes, it is crucial to build a team with diverse skill sets. This team should work in harmony to execute a shared business plan effectively. Remember, your competition is not an individual but a well-established company with its own structure, culture, and experienced team.
How To Grow A Successful Team
High-performing teams don’t materialize out of the ether. They require careful cultivation from a team leader with a strong sense of team values, goals, and code of ethics. Without this leadership from the top, your employees are simply co-workers. It’s up to you to them an actual team.
Establishing expectations from day one is key to creating a cohesive team environment. New employees are like blank slates, ready to absorb your company's culture. By setting clear ground rules and communicating your values early on, you lay the foundation for a culture of shared responsibility and decision-making. Effective leadership means guiding new team members on the journey they are about to embark on.
Respecting team members as individuals is key to fostering a thriving work environment. Remember, each employee brings a unique story and valuable contributions to the table. Embrace their diverse backgrounds and talents to cultivate a strong team dynamic. By honoring and valuing each individual's skills and perspectives, you create a space where everyone can actively contribute to achieving shared goals.
Stimulate connections within the team by valuing and honoring each individual member. It's crucial for team members to exhibit respect and care towards one another. Encourage seeing colleagues not just as desk neighbors but as business partners working towards shared goals of business development, individual success, and team achievements.
Practice emotional intelligence. Great leaders value the importance of emotional intelligence. In a nutshell, this means that their leadership style includes treating individuals as human beings. Great leaders understand that not every person is motivated by the same thing. Some team players thrive on pursuing shared goals. Others seek healthy competition, either with an outside competitor or against another sales team in the same office. By embracing the realities of different work styles and different forms of motivation, an effective leader will treat people’s individual differences as an asset, not an obstacle.
Motivate with positivity. Great leaders also subscribe to the theory that “you get more flies with honey than vinegar.” In real world terms, this means that it’s more effective to shape behavior with positive reinforcement rather than negative reinforcement. Resist the urge the criticize team members’ mistakes. Instead, create a positive team environment by citing events and behaviors that you particularly liked and encourage your team to bring more where that came from.
Communicate, communicate, communicate. As humans, we all love to know where we stand. Are my colleagues happy with the work I’m doing? Do I need to improve on something? Assume that people want to know. If they sense you’re unhappy but aren’t saying anything, that can lead up to built-up stress and even resentment, which will result in poor performance. Or if they think they’re doing a great job but you as a boss aren’t satisfied, this can lead to unwelcome shock when you break the news that they’ve been underperforming. So, brush up on those communication skills; effective communication can keep working relationships strong for decades, while silence can break things apart very quickly.
Look for ways to reward good work. People love affirmation of their hard work. If you’re fortunate enough to be able to give financial bonuses, this is a great way to show appreciation. If you’re a startup with little cash on hand, think of other ways to show gratitude and trust. An easy way is to practice the art of delegating. If a team member shows great judgement, allow them to make some key decisions that you may have once reserved for yourself. If they are particularly responsible with money, give them authority to use the company credit card. Find a small way to show that you’re paying close attention to your employees and their efforts are appreciated. It will reflect well on you as a boss and help remind people that they are a valued member of the team.
Diversify. When it comes to building your business, your team should be as diverse as possible—different backgrounds, experiences, ages, and opinions. Hire with the goal of covering your blind spots: surround yourself with people who will inform the judgment calls you make and the content you put out.
How To Cultivate The Essential Attributes Within Your Team
Embrace Challenges as Opportunities
↳ Shift the energy around a problem into a driving force for development.
Promote Persistence
↳ Celebrate resilient in the face of setbacks - a hallmark of the growth mindset.
Encourage Curiosity
↳ Support initiatives that allow your team to experiment and discover.
Normalize Feedback
↳ Offer feedback as a gift, aimed at helping someone grow.
Celebrate Growth & Learning
↳ Encourage continuous improvement and values the journey as much as the destination.
What are your tips & tricks? How do you build and grow your teams?
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