When starting a business, there are basic fundamentals that you have to put in place for a successful takeoff. Apart from the equipment and systems, the people you bring in or partner with can either make or break your venture. The importance of teamwork is second to none.
Working with the right team increases learning because each member shares their perspective and challenges others to think deeper and defend their ideas. The outcome of this is quality thoughts which lead to competitive output either in product or service delivery.
Building an incredible team that has a shared vision requires that you invest heavily in scouting for the right people. It is more than just bringing human capital together. Even before you register a company name, check out the 1st formations limited website, you must establish the unique skills and abilities of the people you want to team up with. This should form part of your business planning.
Team development is a process involving several phases. According to Bruce Wayne Tuckman, there are 4 main stages you have to go through. These are:
- Forming – This is where you bring the team together for the very first time. No formal working rules are established as yet at this point.
- Storming – At this stage, team members are beginning to grow in confidence and it is likely that you will witness some in-fighting.
- Norming – Simply defined, this is the phase of team development where you establish procedures and systems that guide action.
- Performing – This is the final stage where the team is cohesive and performs together in harmony.
How to Build a High Performing Team
Looking at the process above, you may be wondering what sort of people you should take through the various stages of team development. Well, this is a genuine concern because most businesses get it wrong at this point. The impact of assembling a team with the wrong qualities can be devastating to your business and future prospects.
The Right Value System
This is the first and foremost consideration that you should make. Remember, the prime existence of your business is not to make money, but rather to deliver value. In the course of value delivery, people will pay and that is how you will earn your money.
For this reason, the value system of your team members is crucial. Having a team that is misaligned with your business goals and values will render your business non-functional. Simple values such as communication, customer service, integrity, loyalty, and trust, can propel your business to greater heights.
Let’s face it, however good your idea is, without the right amount and form of financing, it cannot materialize. Getting a team member or a partner who can finance or has access to financial resources can set you on the right footing.
Many noble businesses have exited the market because they were not liquid enough to sustain their operations. If you can get a person who can finance from out of pocket, the better because such form of financing doesn’t come with lots of restrictions and unreasonable conditions.
Ability to Lead
Leadership is what steers businesses forward during both good and bad times. Leaders who know how to play their role can help guide the rest of the team by embodying the qualities and ethics of the business.
Leaders are not just people who come in first and leave last, but rather those who are engaged in the day-to-day running of the business. They set the tempo and inspire the rest towards engagement.
Knowledgeable in Sales
The traditional view of selling is that it is only done by salespeople. While this is partially true, selling is for everyone everywhere in your business. Team members who can prospect and grow your pipeline are valuable.
The ability to sell should not be judged only by the number of products that leave the shelves, but how well customers are nurtured through the process before and after the purchase. Over time, sales-oriented team members will help develop loyal customers who will sustain the business through repeat purchases and referrals.
Apart from bringing in team members with specific strengths as those discussed above, you need someone with a variety of skills that envelope the team’s efforts. Ideally, such a person should have skills such as videography, accounting, social media coordination, editorial, graphics, copywriting, and many others. The business can leverage these skills to move the revenue needle.
You have the choice of working with permanent and full-time team members or freelancers and contractors. The level of collaboration will purely depend on the nature of your business and the model it is founded on.