• Steph

How to Build Your First Team as an Entrepreneur

When done right, teams are more than just people who work together; they are people who win together. What we've learned about doing teams right the right way for the right price.

1. Understanding the Need for a Team

When it comes to building a great team. Admitting you need a team is the first step. If you are an entrepreneur, you're probably juggling multiple tasks. You may even be overloaded. Why do we business owners do this and how do we get to this point? Oftentimes, this is a result of us growing our business, but not necessarily growing our team. It's natural to want to master everything your business desires. Don't get me wrong, that's a good thing! It becomes a problem when we have so much volume and trying to handle everything on our own or without the appropriate team . If this is the case, it's time to admit it. You need help. You need a person or people to team up with to give you capacity to handle what you're best at.

2. Understand What Qualifies as a Team

If you're like most small business owners, when you hear me say "you need a team," the first thing that comes to your mind is dollar signs. How much will it cost me to build a team? How much will it cost me to employ a team? This is a valid concern, but if you do teams right, it doesn't have to cost you a fortune. Here are some ways to increase your capacity by adding expertise without breaking the bank.

  • Find One Utility Player - Hire one person with many relevant skills who can contribute in most areas of your business. If you find a Jack- or Jill-of-all-trades, you've hit the jackpot. You can probably get away with adding just one person to form. your team, if it's the right person. You plus the right one can be a winning force. A two-person band can make a lot of noise for a sensible price.

  • Go virtual - As an entrepreneur, you should be focused on the big picture and strategizing your next moves to take over the world. That's very hard to do when you have to focus on the day-to-day. Hiring a virtual administrative assistant can free you up from the mundane and give you more capacity to expand your business and provide better service to your customers. Virtual assistants are normally hired from outside of the country, so they tend to cost less.

  • Contractors - there are service providers you can hire that get paid when you do. For example, if you are a real estate investor, your team wouldn't necessarily be made up of W-2 employees, but real estate agents, wholesalers, lenders, property managers, etc. You don't need payroll for these team members and they only get paid when you do. This setup motivates them to perform well and get you paid, so they can get paid and so you'll hire them again.

3. Build Around Your Motivators and Stressors

You are unique. There is no one exactly like you. And though there is no one exactly like you, there are a lot of people who are like you. Studies show us there are four main personality types that combine with each other to make different personalities. According to the DiSC® model, there are 12 work styles. Divided up among 8 billion people in the world, I'd say there's a good chance that there are lots of people who are like you. You probably have no carbon copies, but you definitely have lookalikes. TheBoldlyMe Seminar is a great way to discover your work style and how it works with the others.

Why is this important to team-building? Knowing who you are helps you put together a team that will optimize your strengths, make up for your weaknesses, as well as each other's, and meet your business needs. When you know who you are, you know what you need. You need a team that fits your business and works well together. If you want to build a great team, you must know your business needs. What problems need to be solved and what type of person do you need to solve them? You should also be identifying what aspects of the business you wish to hand off to someone else. What is it that you need to take off your plate, so that you can focus on what you do best?

Building a winning team is a very rewarding experience. It can take your success to heights you would have never reached alone. When you have a need for a team, decide what type of team you'd like to build to meet your business needs and compliment your work style, and win win win!

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