5 TRUTHS ABOUT BUILDING YOUR IDEAL TEAM

Your team is your #1 Business Asset


The success of your business relies on a successful team. Your team helps take the vision and mission of your company out to the clients you serve. They spread your message, support your customers, and build your dream.


The growth of your business depends on the growth of your team. In almost every industry without a team your capacity is limited. As your business grows so does the need for a great team.


Depending on the industry you are in you may find yourself spending anywhere from 25% to even 50% of your company’s revenue on your team.


Are you spending that money or investing it?


You invest in technology, marketing, product development, physical space, equipment because you know it is essential for business growth. Your team is your #1 asset, here is why it is more important than every before to be investing in your team.


1. For your business to grow, a team is essential


Many businesses are run as solo entrepreneurs. Whether it is because of the product or service they offer, or because they do not want to manage a team, it is their intention to be the sole person involved in their business. This is a fine business model.


Other business owners see opportunity for growth through increased capacity and this means having a team. Your team may be employees, independent contractors, or even outsources individuals who have no direct contact with your customers. Your team is anyone who helps you care for your product / service and the customers you serve. Including, virtual assistants, financial support, marketing teams, etc.


For your business go grow into a leveraged business, beyond trading time for money, a team is required.


2. It is expensive to have a team


The solid truth is that paying for payroll, taxes, benefits, processing, etc. etc. is expensive. Depending on your industry you may find as much as 50% of your company revenue goes to building this team.


Hiring alone is an investment. It takes time for you or your leadership team to look for, interview, and train new employees. Time is money in business.