Why Do I Need A Competent Team In Establishing My Business? – Don’t ever think that the entrepreneurship journey or running a successful business outfit is a lone walk. You might start alone but you cannot take the business to a great height without a team of competent people.
The team or workforce you have has a great influence on the success of your business and if you must know, most successful businesses in the world have competent teams that give in their best and all to make the business successful.
If you have that misconception that as an entrepreneur or business owner, it is your business and so you must do it alone; you can actually work alone but what you will achieve alone in 5 years, with a team you would achieve it in just 2 years because with a competent team around you, all hands will be on deck.
Your team has a way of either making your business a success or a failure that is why we have been hammering on having a competent team and if you have even gone through articles on why many startups fail in reaching limelight, having the wrong team is one of the main reasons.
In this article, you will be seeing the reason having a competent team is important in establishing your business. We will also show you how you can actually build a competent team so as to help you establish a success business that will thrive in any environment.
Without much stress about this, let’s get to what we have for you:
Why Do You Need A Competent Team In Establishing Your Business?
We are going to look at some reasons you would need people to work with you as a team to attain a successful business. This team could be a team of friend(s) or a team of workers but in all, you need to have a strong team around you.
Some of the reasons or benefits of having a competent team in establishing a business are:
- Your team brings new ideas
Every business needs innovative ideas to stand out in the market and as a startup, having a team will help you bring ideas that will help to create a competitive and successful business outfit.
If you have a team of creative people, you don’t have to stress much in brainstorming as they will do the thinking and generation of ideas while you will just have to look at the ideas critically and implement them if they are worth the risk.
Do you think most of these successful business owners did the thinking or generation of the ideas for their business alone?
The start-up idea might have been their own but as the business grows, there would be need to seek ideas, opinions and views from team members or employees. It will surely help in the growth and expansion of the business.
- Your team helps to solve problems
If you have a team of people that are problem solvers and ready to work, then you wouldn’t worry about getting any job done as they would make sure every task a hand is completed and also get solutions to problems.
With the creativity of the people in your team or employees, they would think of ways to solve any problem the business encounters and this will help in the growth of the business.
For every business to grow, it must have a team of problem solvers that are ready to go extra miles to find solutions that works best for the business.
- Your team gives support
If you have a competent team, they will give you the support that you need and they will also put in their best to ensure that the business gets to greater heights. Since you must have intimated the team on the vision and mission of the business, they will always want to work to make sure the vision, mission and goals of the business is achieved.
They will support you in everything you do and also give everything to support the vision and mission of your business.
- Your team gives you a reason not to give up
Like we said earlier, the right team gives you support and if you are on the verge of giving up, they will stand by you and render the necessary assistance to ensure success.
The right team will be a source of motivation not to give up as their ability to find solution out of nothing, being creative and innovative will give you reasons to put further and forward no matter the challenges the business face.
The right team gives you this morale and confidence to keep pushing and keep delivering the best product or service to the market.
- You team helps you become more competitive
When you have a team of competent people working with you or for you in your business, it will help your business to become more competitive as you will have ideas, innovations and creativity that will give you an edge over your competitors.
Having the right team will put you at an advantage when compared to your competitors as they will ensure increased productivity and efficiency of your business.
The right team will know how to use resources efficiently to ensure the success of the business. Even if the business has money or resources, if it lacks a competent team, it won’t make head way and won’t be able to compete in the market.
- Your team drives you to success
Like we mentioned at the beginning of this article that having the wrong team is one of the main reasons most startups fail and this is because they lack competence. When you have the right team, your business will grow and become successful even in the shortest space of time.
Giving their best to the business will drive the business to success as all hands will be on deck to ensure that tasks are completed. This is why most of the successful businesses continue to grow because they have a strong and competent team working in the organization.
- Your team attracts more funds for investment to your business
If you have a strong and competent team, your business will attract investors as most investors are ready and willing to give out money to startups that they believe has a strong and competent team as they believe that the business has a bright future.
If you must know, many investors make having a team a criterion for investing in your business and this is because they will be sure that the money they put into your business will be put to good use if your team members are intelligent and competent enough.
They also believe that having the right team behind you will give you a great advantage over competitors as you will be able to make sales and generate profit.
- Your team increases productivity and efficiency
For you to establish a business that will be success, you will need a team of people that are creative enough to think outside the box and generate mouthwatering ideas that will help to increase productivity. The efficiency of your team is what drives your business or company to success as they will be willing, able and ready to find solutions to problems that could affect the growth of the business.
The right team will be able to use resources efficiently like we have said and it will help minimize cost and maximize profit which is more like the sole aim of every business enterprise.
So you should work towards building the right team so that your business will grow and become successful.
- Your team has a role in advertising and marketing the business
Advertisement and marketing strategy is one of the most important things a business needs as it will help you create awareness for your product or service and also increase your customer base.
So having the right team will ease you the stress of advertisement as they will help to talk about the business to their networks and also market the business too.
You do your own part and they do theirs and before you know it, the business is doing well in a short period of time.
- Your team helps to increase sales
If you have a strong marketing team, it will surely increase the sales of your products and this will in turn increase profit of your business. If the productivity of your business increases, definitely, the sales of your business will also increase and profit will follow suit.
How To Build A Competent Team For Your Business
Like we have hammered, it is important that you have the right team around you in order to establish a great business. The importance of having a competent team cannot be overemphasized.
If you want to start a business, this is one of the questions you would ask yourself aside how to raise capital and we are glad you are reading this article as we are going to be showing you how you some strategies to help you build a competent team that will drive your business to success.
Without further ado, let’s proceed…
- Know yourself
This is a very important strategy in building a competent team for your business. You will have to know yourself and understand what you really want in your team for you to get the right people for the job.
Understanding your personality and quality will help you get the right people to work with you. For instance, if you are creative, you will definitely fine people of like-mind like you that can think outside the box and become innovative.
So in doing this, you will have to ask yourself:
- What am I good at or know how to do best?
- What are my weaknesses?
Once you have looked at yourself to know what you can do and not do, it will help you think about the kind of people you want in your team and also the picture of where your business will be in the future.
- Define your business desire and the kind of people that will fit
It just like what we have said earlier. After you must have understood yourself, what you can do and also what you want for your business, you will now start to figure out the kind of people that will fit in.
The people you will hire should be people that have like mind with you and also understand what you want to do. For anybody to fit into your team, the person must understand what your business entails and also must be willing to give in all to ensure the success of the business.
- Hire people that will get the job done
You might have a great business idea but the idea is not the business and so if there’s no implementation, then there’s no business. This is why you need a team of competent people to help kick start your business and turn your idea into a reality.
If you want to build a team of people that are not just creative in generating ideas but also creative in implementing them, then you will need to hire people that possess hard and soft skills and are ready to take action and put this skill to use.
In establishing your business, you will certainly need people that are resourceful and are willing and ready to give in their best for the success of the business.
You should know that as a startup, there would be challenges from different corners and so you will need a competent team that is that are ready to be innovative and creative to bring up solutions to problems quickly and efficiently as this is a valuable asset for every business.
- Understand the strength of each individual
You should know that no two individuals are the same and so you will have to understand the people that you bring to your team, their strengths, weaknesses and skills. This will help you know how to relate with them and see how who you can choose for any job at hand.
This is a very important skill to possess if you want to run your business successfully as it will help you know how to make the right choice and pick the right people for the job.
This will also help you use your team members or employees strengths and potentials to the fullest as you know what each individual can bring to the table.
- Explain your business vision and mission
Every business is expected to have a mission and vision and so in building the right team of workers, you will have to explain your vision and mission to them so they would understand what your business is all about and what it stands for.
Describe future plans for your business and also how you intend reaching the goals you set for your business and this will help you carry your team and employees along and direct their actions so as not to deviate from the vision and goal of the business.
You should also try to use “we” not “I” when discussing your business plan with your team members or employees as it will help them feel among and a part of the business and growth of the business.
- Don’t build a startup team
You might be wondering why we would say this but the thing is you shouldn’t build the team only for start-up of your business. You should know that the startup stage is a temporary stage and so you will have to pass that stage some day and so if you want your business to expand, you will have to think big and think far.
You must have heard that most business fail in the initially stage of the business and we are sure this is not what you want for your business and this is why the team you are building should not only be for the initial stage of the business as you should think about expanding. Build a team for a long term that will help you attain the long term vision of your business.
- Hire people that understand customer service
In recent times, it has been said that the main aim of running a business is not solely for profit but it should be centered on your customers and how to meet their needs and solve their problems.
So if you are building your team, you should hire people that understand what customer service is and that the customers should be treated as kings. It is normal to get carried away by making profit and making it the sole aim of your business but if you want your business to stay for a long time, it should be centered on your customers as this will help build customer loyalty.
If you build a team that puts your customers at the fore front of your business, making profit will eventually come at the end of the day.
When starting up a business, it may not be easy as you won’t have enough resources to do what you have to do but you will need your team to understand the importance of customer service and how they should treat customers as this will help your business to grow and become successful.
- Hire people of diverse character and working ability
Like we said initially that no two people are the same and so people will certainly have different character and strength to work. It would be wrong and limiting to hire people that work and act the same way.
When your employees or team members think, act and work the same way, then you are certainly going to be getting similar results so it is important that you hire people that think differently and bring different ideas to the table.
When you hire people of diverse character and work strength, there would be room for creativity and innovation as everybody brings something different to the table.
So as an entrepreneur or business owner, don’t hire people of the same character, work strength or creative content as there won’t be new or fresh ideas to work with and it might bring about stagnant growth.
- Let your team know you value them
If you really want people to do and give their best, you will have to appreciate and value them and this also goes for your team and employees.
Show them that you care and that you are interested in their personal and professional growth. This will make them work with loyalty towards the success of the business.
You should also try to celebrate them for their accomplishments no matter how small as it will motivate them to put in more effort and do more. You should also do well by investing in them as this will help to improve the efficiency of human capital and in return increase productivity.
Also stay positive and act positive as this will help to boost the morale of your team to give in their best.
- Use the skill of the team members to build the team
If you want your team to grow, you will have to make use of the skills of the team members. Always interact with your team members and intimate them on any new development in the business.
Make sure you carry them along and make them feel they are a part of your business as this will make them want to do their best for the growth of the business as they are already feeling among.
- Ensure healthy relationship among team members
For your business to flourish, you must ensure that there is no bad blood among your team members. When there is a poor relationship among your team members, there will be distractions and the productivity and efficiently of the business will be hampered leading to poor results.
- Understand negative team attitude
There are some people that are just known to have a negative vibe and if you hire this kind of people, it is going to affect your business drastically. Know when people with bad attitude are unwilling to change as they always claim to be right and know how to deal with this category of people.
Try to be diplomatic when resolving issue and also identify when people cannot work together so as to see how you can resolve issues between team members and ensure the success of your business.
From all we have said, you must have seen that a team is very important establishing a business and since it is a startup, you will certainly need people that are ready and willing to work with you to ensure the success of your business.
Every business needs a handful of competent people working as a team for it to be successful and most existing businesses already understand the importance of team work in their business and this is why most of these businesses have turned out to be a success.