When it comes to building a successful business from scratch, money is not all you need. Of course, you cannot overlook finance requirements to set up your enterprise but it is the team that is the actual foundation of a company. So it is all about creating a team that is strong enough and ensuring that these employees stay with you ahead. And it is also about finding the strengths of individuals and capitalizing on them. Moreover, you have to value people enough so that you are able to motivate and retain them for the long run.
If you want to have a team that will last, you need to be a true leader rather than just an entrepreneur. Only a special kind of leader who has the right skills and competencies is capable of building great teams and companies. Do you have these skills and competencies in you? Would you want to know how successful entrepreneurs do it? Here are some measures you can implement in this context.
Start by assessing yourself
Even before you think about creating a great team, being aware of your leadership style is important. Are you capable enough of steering a group towards the achievement of a common goal? Do you have the quality to motivate and inspire others? Are you flexible enough to work and collaborate with people of different mindsets and personalities? How accepting are others of your leadership? The idea is about evaluating oneself with honesty and being critical about the areas you can improve.
Master the art of handling people
Perhaps the toughest challenge for entrepreneurs and leaders in handling people. Rather than being a skill, it is an art. To be a successful leader, you will have to focus on investing time to know your team. Understand the strengths, weaknesses and expectations of individuals. Find out if they have untapped potential and judge what you can do to get the best from them in terms of productivity, performance and contribution for your organization.
Create a process that works
While you must master the art of people, having a proper process for managing them within the company can make all the difference. Essentially, the process should cover the entire life cycle of every employee within your business. Start by investing in an onboarding software that actually works because you would want to engage the team members from the day they join. Have proper practices for training, scheduling, appraisal, incentives and retention as well. The process should aim at keeping the team members engaged and motivated.
Balance strengths and weaknesses
When you have a team, there are bound to be people with diverse personalities, skills and mindsets working together. Look for ones who complement each other- the strengths of one set of people should offset the weaknesses of another. There should be a balance in the team and they should all be able to work as a cohesive force that delivers results, regardless of individual strengths and weaknesses. As a successful leader, you should be able to drive them towards a common goal. The more people feel like a part of one group, the more they become invested in making it work.
One trait that every great entrepreneur has is great communication skills. And it is not just about being able to communicate with your clients and stakeholders; it is more about connecting with the team within because these are the people who will propel your business ahead. Unless there is a flow of information within the team, you cannot expect them to work together seamlessly and successfully. Here, the leader needs to play a pivotal role of keeping the communication going. Maintain a level of transparency in communication as it fosters trust and collaboration.
Celebrate the achievements
Appreciation keeps people happy and this is the reason why every great entrepreneur goes the extra mile to celebrate the achievements of their team. While it is always good to appreciate the performers, don’t forget to motivate everyone else as well. Prioritize teamwork and make each person feel visible. At the same time, avoid playing the blame game because it demotivates people. Celebrating success is important but you need to see failures in a positive light as well. Bring everyone together after a blunder and work out on redirecting your efforts in the future.
Being a great entrepreneur and building great teams requires you to connect with your employees and forging strong relationships as an integral part of your business culture. Ensure that people make conscious efforts to stay with your company and contribute towards its growth.