How to Build a Successful Team

The current trend among start up entrepreneurs is to create entrepreneurial teams.  Being a lone entrepreneur has its advantage—sole ownership of the company and sole power, but a team of at least three members allows for all the tasks of running a business more affordable.  As a team, biases are countered; therefore, decision making is more effective.   Finding the most suitable partners can be tricky.  To begin creating the most effective team, an entrepreneur needs to look at several factors.

Recognize what talent or skill you need:

You shouldn’t partner up with someone based on the fact that they are your friend or family.  If your friend or family has a particular skill that is needed for the business venture, then it’s okay to create a team with them.  Know what your needs are for the business you’d like to establish and base your partnership criteria on these.  It is important that you gather around those that have skills apart from yours or are a lot smarter than you.

Assess commitment:

Once you have found the right person for the team, make sure to find out his/her level of commitment to the business.  You want someone who is willing to work long hours alongside the other team members.  An absentee team member is not preferable to creating a successful business venture.

Structure and Process:

Make sure to define each person’s role at the onset of the business venture.  This will make the team more dynamic and more productive, as well as less vulnerable to power struggles.  Job definitions and deadlines need to be clear.  Clarity is more important than a consensus.  In order for a team to work effectively, reward people for their contribution.  This reward could be in the type of work that you assign to them. 

Overall, with effective direction and facilitation from the right team leader, team-building can be a very productive and cost-effective process.  To help ensure success, the team needs to consider the skills and talents of each member, the time commitment of each other, the defined roles of each other, and the acceptance of each other’s strengths and weaknesses.  Working in a team requires openness as well as honesty from each member in order to create a successful business venture.  If you love working with your team members, coming to work doesn’t seem like work.