It takes a team to be Successful
Sometime ago I did mentioned one super way you can get attention of any successful person on earth. People who have made a lot of money tend to have less time on their hands mainly because of people who will want their attention. The best way to get their attention is to offer them something free- in return to their mentorship. Say you can volunteer to work for free at their company and get to meet them occasionally and ask them question. This might be fulfilling. Once you know the systems of building a business, mistakes that shouldn’t be taken and leadership skills then you can be sure that you are embarking on something that can be successful. It almost like going to take a driving licence, you need to pass through some instructor for you to improve your chance. It’s not just watching your boyfriend drive and you think tomorrow you can just take the car in the garage and go for kapana.
To me, leadership is one of the most important aspects of growing a successful business. Without good leadership, a business can never get anywhere. In fact, lack of good leadership is why most businesses fail or fail to grow very big. Leadership has been described as “a process of social influence in which a person can enlist the aid and support of others in the accomplishment of a common task”. For example, some understand a leader simply as somebody whom people follow, or as somebody who guides or directs others, while others define leadership as organizing a group of people to achieve a common goal
A leader’s role is a combination of visionary, cheerleader, and pit bull. As a visionary, the leader must keep his or her focus on the company’s mission. As a cheerleader, he or she must inspire the team as it works together towards that mission, as well as herald the successes along the way. As a pit bull, he or she must be able to make the tough calls regarding issues that distract the team from achieving the mission. The unique ability to take decisive action while maintaining focus on the ultimate mission is what defines a true leader. I am reminded of so many companies that take two to three years while having a solid team but not yet functioning. This will require a leader who will be able to convince the team while there should hang on in spite of missed salaries in some months
A leader needs a team
A leader doesn’t have to have all the answers, but he or she must be adept at pulling together a management team that can come up with the answers, and motivating them to provide those answers. A leader can come into meeting and get all the technical questions but will be able to point the one who should answer.
Therefore, if you are thinking of running a business to success you should built a team of associate. Associates can be friends or business partners you consult occasionally. Your team should also include your outside advisors. Proper guidance from your accountants, tax advisors, financial advisors, and legal counsel is imperative for building a strong, successful business. Although these advisors can be expensive, their advice can provide you with an incredible return on your INVESTMENT by helping you structure a strong business while avoiding pitfalls along the way.
Money follows management
Warren Buffet, one of the richest people and the proponent of value investing doesn’t buy a company because the share is cheap. His valuation gives more weight to people who run the business. Business is synonymous with the people operating it. Don’t be fooled a builder can’t give you profitable advice about gold. I often mention that “money follows management” in the world of business capital. Investors INVEST in management. They look at the team within the proposed business and want to see experience, passion, and commitment. To succeed, a business must have the proper expertise in key areas.
When you do not have the money up front to hire the talent you need, consider attracting the talent as members of an advisory board with the understanding that, once sufficient capital is raised, your team will come on board. Your chance of success is much stronger if your management team has a track record of success in the business or industry of your proposed business.
All of this means that, as a leader, you must be extremely good at working with people. Being able to cooperate with as many people as possible and helping people without crippling them are extremely important leadership skills. Some people say it is usually not what you know but who know that matters in the business world. Business is selling a product and it will be easier if you are known. That is the reason why most of the businesses advertise on billboards, newspapers and on television. It’s all to be known.
If you’re looking to start a business, I encourage you to spend some time assessing whether you’re as good of a leader as you could be, and who you need on your team to succeed. Believe me, it will be time well INVESTED.