BUSINESS TIPS

You’ve heard the phrase “Team work makes the dream work!” And no matter how old or “cliche” it may sound, it still holds true.

Truth is, though, many businesses fail to grow because of the owner’s “hoarding habits”. Hoarding all of the work. Hoarding all of the projects. Hoarding all of money.

Yes, in the beginning of starting a business, it’s normally the owner who takes on all of the responsibilities of not only building the business but doing the work for his or her clients and customers.

However ...

as a business owner, once you decide that you want to take your business to the next level, you realize that you can “Go farther with a team” (derived from African Proverb).

Consider this... as a one-man show, you may only be able to take on 1-2 clients at a time. And it can be guaranteed that as a one man show this requires you to not only acquire your leads, you also have to convert/close them, onboard them, plan the work, do the work, communicate the work, migrate and deliver the work…. And the list goes on depending on your product or service.

When you have built a team inside of your business, all of the processes required to inbound and outbound the work gets segmented across multiple people – hopefully people with an expertise that allows the portions of work to get done efficiently and with quality.

Wouldn't it be nice to streamline certain task to a small group of experts, including yourself, so that you can take on more clients?

Here are 5 benefits that you’ll see INSTANTLY as a business owner when you build a team.

1. More throughput.

You earn the ability to work more projects and services more clients and customers because you have more “hands” to manage the work. By segmenting the work, you can concentrate expertise to particular tasks that can get done QUICKLY so that you can move from only managing 1-2 clients, to MORE!

2. More throughput will allow for more earning potential.

Sometimes business owners think that the money they are making will be cut because they have to pay someone to do the work. And while this is true, think of it differently.

Consider this scenario:

If working 1 project, you earn $5k, you can double that amount with just 1 more project and an extra pair of "hands". Sure, you will have to pay your team member for the work they deliver, however, you can easily make up for the money you would have earned in profit doing the work yourself by simply leveraging expert resources for the tasks that you're either not as good at or that which would take you longer to complete. Or to be quite honest, the tasks that you don't like to do can be done by someone else which saves you TIME! And we all know as business owners, time is KEY.

3. Less stress.

Be honest. You love your business and the value you offer your clients. But it can be extremely stressful to have to wear EVERY SINGLE HAT that is required to deliver a product.

Delegating work saves the brain power you need to think creatively for your business. Put that energy into innovation, not trying to do every single task.

4. More quality of work -- with the right expertise.

You have to have a strategy when putting together your team.

It’s great to hire a bunch of clones of yourself but when you’re truly looking to scale your business and offer high quality products and services, it is a good idea to hire skills sets that you do not have.

Think of it like your favorite NBA team that has the best starting-5. Each player knows the game, but each player also brings a skillset to the court that makes them an expert at what they do. The team is able to spread out the delivery of a win through an assortment of skills that help them win the game.

5. A true scalable business model.

The truth is, many new business owners start off having worked for someone else or some other company. Their dreams and ambitions to become a business owner sometimes unconsciously locks them into a box and after leaving the traditional 9-5, they end up simply creating another job for themselves – however, it because a job that requires more of their time and more of skills that they either don’t have or aren’t very good at. Sure this positions you to grow as a business owner, but the reality is, you become a slave to your business. And trust, your enthusiasm will fade over time.

When you choose to include a team in your business model, you begin to think like large, successful companies and organizations and even other small business owners that understand if they ever want true freedom and growth in their company, they have to create processes that are not centered around them.

This allows you to go on vacation, take a sick day, or simply have peace of mind to enjoy the business you created and not get burned out.

So now that you’ve read about the benefits of having a team, are you ready to take your business to the next level?

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