Business Wealth Academy
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All business owners strive to build a world-class team because a great team is essential to grow an organisation or a business.
Therefore, each of your team members must have a strong grasp of your company’s purpose and common goals. It is also important that they share varied and excellent skills to complement each other and cooperate with each other.
Your Role as the Leader
As the team leader, you will have to put in hard work and constantly learn and grow so you can lead, develop, and mentor each of them and your team as a whole towards achieving your business’s goals. You will also have to give them support, training, and coaching, and that has to be plotted out in your schedule and in the process, too.
For example, you have to plot out different systems and processes for each team member, especially the onboarding process and the targets and goals during the first quarter of their working with you. This will help you get an idea of what they’re supposed to do and why they’re in your team.
Remember that your aim as the team leader is for each of your team members to deliver four-fold in sales and revenue compared to what their salary is costing the business. There has to be a good return on their salaries, so your business scales and grows, you can bring more people in, you can have more clients, and your business moves forward.
In the end, you will have a team that delivers at the highest possible standards in the shortest possible time. You will also have a team that takes full accountability of their work in your business and feel supported at the same time.
Important questions to ask yourself as the team leader
Each team leader has to evaluate their team once in a while. If you’re thinking about the state of your team at the moment, these are great questions you can start with:
Are they delivering more than they are costing?
If the team members are just draining or costing your business instead of bringing in more revenue, it may be time to re-evaluate the roles and the goals you’ve given them. Look into the tasks and outputs they are responsible for. Team members should be bolstering up your business’s cash reserve instead of draining it.
Is it possible for them to deliver four times their salaries?
Have they even been put in a position where that is possible? Or are they doing tasks and roles wherein it is not even possible to do that? If that’s the case, as a leader, you have to rethink their roles, timelines, and processes and change those if necessary so they can deliver and fulfil their roles.
As the business’s leader, your role is to maximise the resources and wealth of your business. You have to evaluate processes and systems that work for your team so that they can deliver targets and that they don’t miss the point of why you hired them in the first place. On the business side, make sure you’re making the most out of what you’re paying them and that they have a positive impact, especially on your business’s revenue.
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