Proper team building in business is one such fundamental aspect of being a successful entrepreneur.
The business ecosystem is changing at a very fast pace. Not only is there huge enthusiasm and euphoria regarding the whole concept of creating something on your own but the fact is that entrepreneurship is also the middle name of finding one’s true entity.
Today e-commerce startups and mobile businesses are mushrooming up at a very fast pace, and their absolute valuations are often sending business analysts into a tizzy. But as the initial exuberance settles down, it is the core concepts and concerns that come to light and often take precedence over others.
When you start the business, it is but natural that you would try and multi-task as much as possible to ensure that expenses are limited. But as your enterprise grows in size and stature, right team building in business is a necessity that you need to address.
You realize that you are soon being stretched just too thin and urgently need to depute more and more people in a disciplined and well thought out manner. This is important to not just ensure that the responsibilities are delegated appropriately but also the core workflow chart moves on in an undisturbed fashion.
Proper team building in business involves several elements that you need to account for. These include:
- Appropriate senior level management for all critical areas
- Staff that do not just follow orders but take the business to next level
- Create a proper pattern of hierarchy to ensure appropriate allocation
- Look at effective delegation to reduce micromanagement and doubling of effort
- Ensure that staff allocation yields returns that can justify the expenses involved
- Create a healthy growing environment for every staff member who joins the enterprise.
The other key focus area while looking to proper team building is the fact that you have to ensure that the people with the right strength get to do the right type of job because it is this fact alone that can ensure that the team value adds to the business in an appropriate fashion.
Invariably what happens is that from very limited manpower, you have a sudden jump in the number of people working and this invariably creates confusion as well as some superfluous position leading to job cuts. This could be detrimental to the employee morale and impact future performance.
This essentially means you need to be extremely objective as a businessperson. However close a particular person might be to you, you have to ensure that you do not allocate a higher position just on the merit of that fact alone.
Neither you need to give high-level jobs to close relatives if you feel they are not the right fit for the responsibility. It is true that you need trusted people on top, but it is also important that you make a choice wisely to reap maximum gains in the process.
Recruitment Objectives in Team Building in Business
It is almost a universal truth that the right team building initiative can go a long way in creating a sustainable company with a strong business turnover and long-term growth prospects.
The idea of the product, the brand it generates and the level of impact that it creates in the market are all in some or other way related to the essential texture of the team building that goes on to work for furthering the idea that an entrepreneur comes up with.
The foundation of a great business story almost always lies with getting the right mix of talent and passion to drive your initiatives, and right team building is only the first step towards that goal.
Whatever might be the core vision of the company in your eyes, it is always a fact that it involves a series of functional roles like VPs, directors and senior project managers. But right at the behest, it is never a good idea to crowd out the company with too many executives.
It always makes more business sense to start small and expand staff on a need basis. It is exactly for this reason that most startups have small beginnings comprising 1-2 people who share the entrepreneur’s drive and passion apart from independent core areas of expertise.
Role of Experience in Your Team
Sometimes experience speaks louder than passion. As a rule, remember to surround yourself with some experience. Remember as a founder of a start-up, you are in a fairly low experience zone, and there are many on job training that you are undergoing.
It is never a good idea to have more of inexperienced staff members. You should always look at creating a balance between young passionate blood and cool level headed experience for yielding the best results for your firm.
While specialists could be important, it is also important to have a relatively bigger spread of individuals with the ability to undertake all round responsibilities.
In short, Jack of all trade could be an answer to address your manpower challenges, especially in the early stage of the startup.
An all-rounder can easily multi-task a number of responsibilities in one go. It is particularly useful when the organization is small. As it grows in size, one appreciates the need and importance of specialties as responsibilities increase, and so does overall responsibilities associated with it.
Passionate Individuals Who Have Already Experienced Failure
Failures may not necessarily always mean individuals who need to be shunned. Often through the course of your research, you need to look for individuals with a strong record of recovering from their failures and rebounding with a greater success.
It is needless to mention that a start-up can always benefit from such driven and passionate individuals who have for once tasted defeat and failure. Their sheer commitment to not repeat the experience ensures that they are by far the types that almost always deliver despite the most challenging odds and roadblocks that could come in the way of their success.
Diversity in Team Building in Business
Diversity is another key requisite for a successful enterprise. Though there is always an involuntary urge to choose more people like you in terms of temperament, passion and commitment, sometimes it is not such a great idea in the interest of the company.
A start-up faces a myriad of challenges and having an efficient and diverse team always comes in handy for better success and turnaround of the team’s overall success rate. Diversity also enables individual entrepreneurs in gaining more depth through the employee range in a start-up, and this can also guarantee a stronger response rate overall.
Right Team Building Initiatives
So that brings us to the question that what would comprise to be the right set of initiatives for effective team building in a business specially when it is new and is at the startup stage, and is there a specific pattern that can help in an appropriate manner? Here are some key pointers.
Success Dependent on the Team
The right team building exercise directly impacts your performance as an entrepreneur and overall success rate. The equation is quite simple, if you are good at team building, you can be successful with relatively minimum effort. If you are not on the contrary, then the prospect of your failure is significantly larger.
Deciding on a list of priorities is crucial. As an entrepreneur, you need to create the appropriate roadmap to ensure that you have a clear idea of the recruits that are most important.
The job profile and the roles they need to play should be clear in your mind to ensure you convey it correctly. Also in this context, it becomes very important that you have the right designation in mind.
You are not duty bound to give the highest designation on a first come first served basis. Think carefully and then choose wisely.
Talent Is Crucial
Recruitment or building the right team in place is not just about one interview session. It is absolutely important that you are on a constant lookout for talent and are able to glean information from almost every discussion you might have.
Sometimes your clients could lead you to some deserving sales person or your investment banker guide you to the most appropriate CEO for your enterprise. The trick is to keep your eyes and ears open. Smart collaborative talent is the way forward for entrepreneurs.
Evaluating and deciding on top talent is an ongoing process.
During the process of interview and even after that it is important that you are able to sell the right job prospect and scope of growth in the industry.
This fact alone can ensure that candidates understand the absolute ethos of your firm and are even able to convey the same.
Choose the Right Hiring Technique
Every business has its own unique set of challenges. It is therefore only fair that the same hiring technique can’t be used for all jobs and you need to be alert and zero in on the technique that works the best for your firm.
Let’s say you have zeroed in on just the right candidate who can be a great asset for your company. Then you should move with speed to ensure that the candidate does not get hired by a competitor before you make an offer. However, this in no way, implies that you cut corners. Don’t slip on the reference and research about the candidate, however, great they might seem to be but try and speed it up for candidates who seem well cut out for the job.
The Offer That You Make
So how should you go about fixing the price or the offer that you make to the candidate?
Well, the crux of this lies in ensuring that you do a thorough market research and maintain a balance. Neither should you underpay the staff nor should you indulge and over price them. Both situations have their own challenges, and that is why to create a middle path is crucial.
The Entrepreneurial Ecosystem Is Crucial
You have to look at creating a board eventually from directors, advisors to CEO, CTO and what not. So it is very important to keep a meticulous watch on the complete system.
Look out for information at all available sources and make a team that you are proud of. Roping in the right set of talent not only helps in creating a more efficient working model but also results in a considerable spike in turnover and revenue generation.
Open To Advice
Opening a startup is no less than having a baby, and as a result, free advice is as easily available for the former as for the latter. But you don’t have to brush everything under the carpet. It always helps to soak up all relevant information as well as you can.
This kind of first-hand advice can sometimes make all the difference between average returns and amazing results. Remember to pass on the good deed when the time comes, and you get the opportunity to mentor someone younger.
Make Recruitment a Team Effort
Delegation can start right from the recruitment process. You can have a weekly team target and can involve respective team managers to have a bigger say in the recruitment drive.
Sometimes it helps to make this process incentive based as well. What happens is that the team members begin to take more ownership in looking around and the entrepreneur gets the advantage as this means that a relatively larger talent pool is available at your disposal.
Also, this type of team effort ensures that the individual team managers can better address their need and specifications from a new recruit and get to the core of the key elements required to make a winning combination. Recruitment when converted into a team drive also improves on the overall accountability.
Additionally, there is also a relatively greater cohesiveness and team spirit which always enhances the overall productivity of any business that you might consider to take forward.
The Right Interview Technique to Ensure You Build The Right Team
We all understand that for any entrepreneur building a business from scratch and transforming it into a workable solution needs a significant amount of hard work and absolute undying commitment.
It is but natural that you have to multi-task and surely need a lot of people to help achieve the task. But the problem is you are a start-up and do not have access to a huge fund basis. As a result, often you are tempted to look for lesser expensive talent pool and maybe sometimes crimped on the quality of recruits.
But even when you are paying lesser, it is possible to get talented staff through an effective screening and interview process. Some of the key pointers in this context include:
Ensure Candidate Understand Job Profile & Has Know How
The screening and interview process is the time when you have to be scathing and unrelenting. Grill the candidates to the best of your ability to be fully sure that they know their job thoroughly and you do not have to spend time or resources in retraining them again. You can then delegate responsibility and can concentrate on other aspects.
Interaction Is Crucial
Just possession of mere technical knowledge is not sufficient. It is important that the candidate also has sufficient skills to establish rapport and communicate with rest of the team better.
To attain this end, it is never a bad idea to spend more time and interact at length with them. You can then make a realistic assumption of their performance and chemistry ratio and decide whether you would pass them or go for them.
Look For Individuals With Strong Learning Curve
It is but normal for individuals to make mistakes when they start off with a job but do they learn from them? Make sure you look for evidence amongst individuals to indicate that they are open to acquiring greater and deeper learning of their work area and take the lessons from their mistakes as seriously as possible.
Individuals who tend to repeat the same mistake over and over again are never an asset for the company. On the contrary, they can be a huge liability and in many ways can lead to losses more than profit as a result of these mistakes. Therefore as a smart entrepreneur look for these danger signals and act fast on them.
The right team building in business mantra is a stable mix of knowledge, instincts and commitment to excel.
Passion and experience both are necessary therefore an entrepreneur needs to choose wisely to create the right balance.
One of the best ways of identifying the right set of talent is through the interview process. But the signals are not in what a candidate says or does but rather what they miss out on.
So, therefore, it goes without saying that an entrepreneur needs to be alert, agile and sharp while he is planning for a proper team building in his business and while he starts building the team. After all, the idea is to improve the net intelligence and efficiency of the team rather than creating potential liabilities.