Every business leader knows just how important it is to have a great team. In fact, many successful business owners will tell you that the trick is to hire well, and then get out of the way.
But there’s more to team building than simply finding people with the right mix of professional skills.
A strong team breeds a high-performance culture, which establishes the foundations for being able to truly nurture your business. In our experience working with a broad cross-section of successful business owners, there are common steps that lay the groundwork for a highly productive team.
Develop a clear vision
It may sound simple, but one of the greatest challenges that businesses and teams face is defining what success looks like. However, it’s the fundamental first step in establishing the shared goals that will define your success.
Having a clear vision in place will allow you to approach team building with clarity and confidence. This is just as important for new team members as it is for existing staff. Don’t worry about sounding like a broken record – the more you repeat your vision and goals with your team, the more familiar it will become, enabling them to more readily take ownership of your vision and take initiative to strive for success.
Define roles and responsibilities
Whether you’re leading a team of three or 300, clearly defined responsibilities are a must. Each team member should have an understanding of how each of their responsibilities relates to the overarching vision.
It’s important for you to point out and create awareness of the connections between responsibilities, as this helps to build accountability and, in turn, a shared sense of reward. While some may think they are indispensable, no team member is an island. Successful businesses are increasingly realising the value of collaboration and peer oversight.
Provide useful feedback and recognition
The key to keeping your team engaged is to provide regular feedback on performance. This includes celebrating hard work and achievement, as well as identifying areas that need improvement and providing learning support or opportunities for training. Regular, sincere and authentic feedback and recognition are the building blocks of loyalty and trust, which are pillars of successful business.
Acknowledgement is also a valuable tool for highlighting and reinforcing skills and behaviours you want to see. Celebration goes a step further than acknowledgement and should involve reflecting as a team on what has been accomplished and learned.
With COVID continuing to play havoc on team morale, it could be time to take a step back and consider the current mood of your team and the business as a whole. COVID fatigue affects people in different ways.
Providing a fresh outlook, positivity and sense of purpose could be as easy as focusing on opportunities – what can be done, rather than what can’t. Are there knowledge gaps that could be addressed through upskilling or new hires? The answer to this could directly influence your revenue, cash flow and profitability, which could be improved through renewed energy and greater productivity.
If you’re in any doubt about team building, our role as a professional ‘sounding board’ provides opportunity to explore ideas and to talk through different scenarios and opportunities. For more information on business development and leadership habits that can make a significant difference to your productivity and profitability, please give us a call.
Core Business Accountants specialise in business advice for growing and mature family-owned and small and medium-sized businesses. If you need business advice about any of the above topics, please get in touch with us on (07) 5438 8088, email firstname.lastname@example.org or visit www.corebusiness.com.au.