You will know that you’re ready to start building your team when you want to start making more money, taking more time-off from your business (perhaps to travel with your family), and pursue that THING that you were so passionate about when you first quit your J.O.B. and ventured out on your own. But if you LOVE the drudgery of the day-to-day grind, wearing ALL the “hats” of the entrepreneur and your family (or lack-there-of) isn’t so important, then by all means, carry-on!
Michael Port shared this important insight with me in a recent interview on how to know when you are ready to build a team:
“Generally I think you get to the point where your growth has leveled off and you just don’t know how you could do that much more than you are doing now and you spend the majority of your day doing tasks that don’t have to do with the future growth of your business.”
There are a lot of options in having team players which may or may not work for you. But if they are “virtual” team players, then it doesn’t really matter WHERE they work. You may have some team members in your city or state, but they don’t have to be situated close to you. You can have team members anywhere in the country or world.
In the book Mastering Virtual Teams, Deborah Duarte and Nancy Tennant Snyder said, “The use of teams has become a common way to gain competitive advantage in a global environment. The goal is to leverage intellectual capital. The methods by which an organization uses to manage (their teams)can make the difference between success and failure.”
The bottom line? You can exponentially grow your revenue, your results and make a much greater impact on the world with a team than you can alone. There are simply too many jobs you hate to do or don’t do well and if you continue to do them all, you will get burned out, make mistakes and miss golden opportunities because you are focused on the WRONG THINGS in your business.
It bears repeating, “you’re ready to start building your team when you are ready to start making more money, taking more time-off from your business (perhaps to travel with your family), and become passionate again about the THING you envisioned when you first quit your J.O.B. and ventured out on your own.”
Melanie Benson Strick is the Million Dollar Lifestyle Business Coach. If you’d like to learn more about how to get out of your own way and stop hijacking your success, you can download her new report, The CEO Factor Manifesto at TheCEOFactorManifesto.com.