By Tonny Wandella
Untold thousands of businesses are created every year across the United States, and the tragic reality is that the majority of them fail. Why do some firms prosper and expand while the majority fail in a matter of years?
Many elements play a role, including access to cash, a thorough understanding of one’s market, the ability to innovate, and—not to be overlooked—good old-fashioned luck. However, there is one aspect that nearly all business owners can influence that may have a direct impact on long-term business success: recruiting the appropriate people and forming a strong team.
What Is the Goal of a Group?
A great team is at the heart of any business’s success. This method works for both startups and multinational corporations. A team exists to enable an enterprise to scale, grow, and prosper in ways that would be impossible for a single person to do. Hiring the proper people—those that embrace teamwork, are goal-oriented, and respect the hierarchical structure that most organizations require—is the first step in building a successful team. The idea is to bring the proper individuals together into a coherent team once they’ve been hired.
Steps to Creating a Strong Team
High-performing teams do not appear out of nowhere. They need to be nurtured by a team leader who has a clear knowledge of the team’s values, goals, and code of ethics. Your employees will be nothing more than coworkers without this top-down leadership. It’s up to you to turn them into a real group. Here are some steps to help you get there.
Foster connections within the team.
While it’s crucial that you recognize and honor each member of the team individually, it’s also critical that the team members show the same respect and care for one another. Encourage people to see one another as more than just a body at the desk next to them, but as a business partner who will work together to achieve a common goal of business development, individual success, and team goals.
Emotional intelligence should be practiced.
Emotional intelligence is highly valued by great leaders. In a nutshell, this means that they lead by treating people as human beings rather than living drones. Great leaders recognize that not everyone is driven by the same factors. Some team members flourish when they are working for a common purpose. Others seek healthy competition, whether it’s against an outside competitor or another sales team in the same office. An effective leader will see people’s individual variations as an asset, not an impediment, by embracing the realities of varied work styles and motivational techniques.
Knowing the ins and outs of managing people, team building, and efficient workplace communication may make a huge difference between a successful and unsuccessful business venture, whether you’re just starting out or a seasoned CEO looking to brush up on the basics.