People tend to start their new businesses small and alone - as a solopreneur - mostly to see if their business plan and strategy work out.
Eventually, when success is starting to pour in, and their business grows in revenue and traffic, it gets challenging to handle things alone. And that is when a solopreneur needs to build a strong team that can upkeep the business growth efficiently.
However, the transition from a solopreneur to an entrepreneur is not as easy as it sounds.
Running things as a one-man army makes you selective and habitual in working in a specific way. So, if your team will not conform to your rules and you cannot transform into a delegator from a "control freak," - things can quickly go downhill.
Worry not - there is always a way out.
We can help you learn how can a solopreneur build a team in organic and efficient ways because it takes more than just hiring people to have a great team.
Understanding how can a solopreneur build a team, you need to identify the number of workers you need, alongside their respective positions.
But, how do you do that?
By first learning the labor demand of your business and then carefully planning the hiring process. Here is how to hire the right individuals who promise lucrative future business endeavors.
First, you need to narrow down how many sub-teams you would require, such as finance and accounting, marketing, content development, sales and revenue operations, etc.
Once you have the basic framework for your team, you can start hiring the leads for each department.
For instance, you can look for the following positions:
These names might seem fancy and a lot to hire, but you need even more hands to create a productive staff once your business grows. However, you don't need to hire all of them at once, and you can begin with one or two and then gradually expand your sole proprietorship and share the same vision as you.
Moving on to the next step, as a business owner, you need to have people on your business partners that are even smarter than you. Now, this can hurt your ego - but it should not. Because when you want to grow successfully and achieve all your goals, you will have to act like a "leader" and not a "boss."
You have been a successful solo entrepreneur now to become an effective leader, relinquish your control and accept that you cannot be a pro in every aspect. There will be someone better than you - a better freelance writer, a better virtual assistant (VA) for tasks, or even a better team rapport. So, hire smarter individuals than you so that they can come up with better opportunities for your business - in the end, you will still be the owner.
Moreover, you need honest individuals who can state their opinions while negating those they do not deem fit. Therefore, employees that speak up diligently can save you from wrong decisions and huge losses.
Instead, if you employ "yes people" who nod at every and any of your ideas, your business will lose the innovative edge, and your success curve will reach a plateau.
While many would not believe in you when you start as a solopreneur, the same people will come up when you succeed and are open to hiring. Remember, the people who were not with you in your lows do not deserve to be with you in your highs, be it your friends and family.
And even if they were with you all along, you need to avoid hiring people you know, like your relatives or friends. Because an employer-employee relationship is different than what you may have outside work, professional disagreements can lead to personal consequences and vice versa. We are not saying that it will ruin everything, but there is a great possibility, so avoid it altogether.
Furthermore, you can build a team with people who have leadership skills, comply with self-regulation, and are open to constructive criticism. Avoid hiring workers who will need micromanagement but those who can take the ball from you and run with it to make the next goal instead of bouncing it back to you.
Another great idea to have a successful team as a solo entrepreneur is to employ workers from diverse backgrounds. The business industry is extremely dynamic. Especially if you are planning to expand your commercial or online business on international marketplaces, having people from different backgrounds, parts of the world and ethnicities can help you with networking.
As soon as you put your hiring plan into action by shortlisting and interviewing potential candidates, it is important to know whether they support your business and is willing to go through the journey with you. Training, workshop, and coaching might help in order to let your staff understand your goals.
But what do you need to sustain your workforce? How can a solopreneur build a team that believes?
You can ask them to pour in their perspective relevant to your business goals and how they anticipate the future. Moreover, you can also schedule a trial period or test to evaluate their potential and analyze if they are trustworthy and competent.
You also need to analyze and evaluate their potential to grow and adapt to the business strategies. The employee should be futuristic and fit into a flexible "five to ten years" picture that aligns with the business changes.
You can ask for the candidate's samples, and work references and cross verify them to ensure that you recruit the right person. A background check will also be a good idea to avoid any con persons on your team. Finally, get in touch with their workplaces and see if they have grown as professionals and benefited the whole enterprise.
Because at times, workers only want the job for the sake of money and not to be an asset to your business. You will have to ensure this to produce a team of capable and talented candidates.
As enticing as it is to grow your business with newer, smarter individuals, you need to keep tabs on the process and align it with your budget. Keep in mind that you will have to pay your employees, no matter what, even when your business is lost.
Ensure that you will still profit from your net income after every expense. For example, if you can only afford four people, go for three instead of five. Because if your team does well, you can always employ more workers.
However, hiring more than you can afford can bring a bad name to your business. Because if you cannot pay them on time or have to fire a few candidates, your company can get into trouble.
It will only stir more tension and problems if the workforce's costs drain the entire business budget. An easy out of this is to do the basic math and estimate the expected income of your business in the next year that the employee will help you make.
You can always employ part-time employees or freelancers to handle tasks that do not require in-house attention to save some extra money. However, even though full-time employees are a great asset to your business, they are also heavier on the payroll and other additional office expenses and tools.
If you still find yourself in a nook with all the chaos of hiring and managing the finances, you can take help from a small business consultant. They can give you great advice on budget, strategy, problem-solving, and other aspects that will accelerate growth while allowing you to improve your dream team.
You have grown as a solo entrepreneur and created your brand's awareness, which means that you would also have made connections in the industry.
You can spread the word in your network about the potential candidates you are looking for and the specific job positions. It can enable you to find the right fit because the people in your network can link you with potential candidates. The best part is because you get the referrals from your acquaintances, it would be easier to trust them.
For instance, if your fellow business partner is downsizing and have a hard time letting their hardworking and trustworthy workers go, they can send them to you if you are open to the relevant positions for hire.
Hiring workers and creating a strong team is not an overnight process. You need to take a thorough, long-drawn approach to produce a state-of-the-art company that will not fail you and will help you achieve the highest point.
Do not rush into making your decisions. Your role as a leader is very crucial. Take time to read and evaluate each candidate and see if they are the right fit for specific positions. You need a team that will grow into a company with over a decade. Therefore, you would want to avoid bad hires, and you will need to let go of your hired personnel earlier than expected.
If you think your job ends once you boost good camaraderie, it is a sign to do more. Now that you have a group to collaborate with, you need to upkeep and enhance their performance from time to time to ensure an efficient workflow. Work towards better communication and dynamics and see the difference you all can make.
Here are a few ways that assures your team should run smoothly:
The key to success is happy customers - and the key to keeping your customers happy is to keep your workers happy because they are the ones handling them.
Entice your members with rewards like bonuses or promotions, keep a check on them, do not overburden or underpay them, acknowledge their achievements, and let them have a say throughout the sales cycle.
Timely booster doses to upkeep morale and make them feel valued can bring in more expansion and cash flow a win-win for both.
Moreover, it would help if you created effective communication with your workforce. Respect their honesty and opinions. Because, as solopreneurs, the only feedback you got was from your clients. But, now that you have a team, the feedback and suggestions will come from within.
As soon as you are building a team, set clear guidelines that navigate transparency and effective communication for problems. And assure the whole workforce that their problems will be heard and solved accordingly.
You need to appreciate and trust them as a team and as individuals. Your company is doing great; cheers to you, but it is crucial to acknowledge the individual performance and qualities. Not all fingers are the same; not all workers have the same effort and dedication.
However, do not ever discriminate or state preferences; it will be the deal-breaker and cause conflicts, leading to failure. Therefore, create a balance in how you acknowledge teamwork and individual performance.
You have effectively led and made a huge success as a solopreneur, so why can you not do the same with your team?
All you need to do is transition into an avid leader from a solopreneur - while you have mastered the independent streak, it is time to polish your skills as a delegator. We've hope you enjoyed this insightful article about how can a solopreneur build a team.
Ronald Osborne is an Australian entrepreneur and experienced business coach. With over ten years of business and mentoring experience, an MBA specializing in Finance, along with launching/partnering with over 10 of his own companies around the globe, he has been able to achieve his version of success. Ronald has been able to help large telecommunication companies, law firms, trade businesses, and everyday business owners improve their business and take it to the next level.
