Economic Development

Build a Team or The Right Team

Creating the right team is imperative to your success. A team is comprised of people who can bring necessary skill sets to the venture. A team is different from partners. Partners are financially and legally tied to the venture while team members are brought in to create and continue the process. Team members can be employees or sub-contactors.

These are people you can control – you get to pick them. You can use their services for as long as you like. If they don’t work out as planned, you can find a different team member or you can find a place on the team where this person can be more effective.

Creating the right environment for the team is equally important. People will give their best when they feel that their services are being valued and that they are entrusted with producing a part of the success of the venture. Team members must have the same values as that of the venture and they must follow the same code of conduct consistent with your desired outcome. They must truly want the venture to be a success and feel that they are a part of that success. They must work well with the other team members.

Differences are encouraged only if they are presented in a positive fashion, recognizing the efforts of the others. Each team member must give more than they are asked for in their areas of expertise. This does not mean extra hours; it means working with heart and soul, working with the creative minds flowing, working with a positive mental attitude, and working together with the others so that all are winners.

What ideas do you have that will create a positive, successful team? How can you create this team and have each person feel that they are as important a part of the success of the venture as you are? Study successful entities to find out how they treat their team members. Find out what motivates team members in successful entities to keep them successful – is it money, power, trust, fear, etc.? Thinking these things out before you create the team will help you in putting together the right team for your venture.

You should write out all the positions of your team and keep updating it as you grow as when you grow you will need to change out some positions on your team. This is a big mistake that people make as they grow. They keep the same team members that were effective when they were small and they do not re-evaluate the need for replacing members who have not grown to levels where they are now needed. Therefore the overall team growth is limited by the lack of ability of one or more members. Just like upgrading your peer group, always be open to and active in upgrading your team members.

You must strive to place the right people on your team. This goes for all positions you pay for, including lawyers, accountants, advisors, sub contractors etc. Be clear on what is a must upfront and make the positions open as specific as possible.

If you are just starting out then make your team as simple and complete as possible. Just be sure that your team members are able to excel and have knowledge in the industry and direction you are going in. The last thing you want to do is to have to micromanage your team members. If you find you are doing so you have made a mistake and replace them right away.

Your team members must be proactive to your needs and outcome. If not replace them or place them in a position where they can be more effective. Please always keep in mind that in most cases you are paying for their services in one manner or another. Never pay a team member 100% upfront for their services as this always gives them something to aspire to. Placing the right team members in the right place will make your endeavor soar.

Tips for Enduring Success and Motivation

1. Success is not achieved accidentally. It is a systematic, deliberate process of deciding what you want to do with your life, what you will do when you get there, and what the steps are to get you where you want to be.

One of the most important aspects of success is the ability to visualize your path and stay focused on your goal until you reach it.

2. The sooner you envision your dreams and develop a plan to turn them into reality, the faster you will accomplish your goals. Mental pictures are a mechanism to lead you down the path of true independence and motivation.

Procrastination is a self-defeating behavior that develops in part due to low self-esteem and fear of failure. Your imagination is like a preview of your future.

If you don’t use your imagination your life will remain mundane and unfulfilling.

3. Overcoming procrastination is the first step in helping you create the lifestyle you desire. You must change the habits and behaviors that led you to procrastinate in the first place.

Change is a slow process so be sure to reward yourself along the way for small achievements.

Instead of focusing on the difficulty of a large task, break it into smaller jobs and create a timeline for finishing them.

4. Several small jobs done over time are much more manageable that one large task with no end in sight.

You’ll be astonished at how much you can get done if you concentrate on one thing at a time instead of cluttering your mind with multiple tasks.

Try tackling the more undesirable tasks early in the day so that by afternoon you can pursue more pleasant activities.

5. Relieve yourself of the pressure created by clutter in your office or home. Develop a filing system, rid yourself of unnecessary papers, and give yourself an organized place to work.

When you exercise self-discipline in your surroundings as well as your behaviors, you will make major strides in accomplishing your goals in a shorter period of time.

No matter what is happening around you, keep your mind focused on the reward you’ll receive by reaching your goals.

6. If people or outside forces distract you, use the power of the human mind to block out what impedes your progress and concentrate solely on the task at hand.

You will make remarkable progress by refusing to let others alter the path you have chosen.

Overcoming procrastination and staying motivated is the way to lifetime success and happiness. You’ll achieve your goals rapidly when you stay focused on your destination and the rewards that will follow.

7. Review your habits and way of thinking to determine what you are visualizing most of the time. If your visions do not lead you in the direction of accomplishing your goals, then you must change them.

Discipline yourself to concentrate on your goals the majority of the time, and if you stray from the path, get promptly back on.

Imagine what the rewards will be when you finally reach your destination and keep that thought foremost in your mind.

Procrastination is of no use to you in your quest to fulfill your dreams. Lose those old habits and replace them with habits that lead to self-motivation and control over your life.

Compare of Business Management Techniques

There are three different top business management techniques out there. These business management techniques include the autocratic technique, the paternalistic technique or the democratic technique. Here we will do a comparison of the top business management techniques, including the good and bad of all three techniques.

The autocratic technique of business management is for a manager who likes to make all the decisions themselves. The autocratic manager likes to closely supervise their employees along with controlling those employees. These managers give orders and don’t listen to the employees. The orders are to be followed in an autocratic business management technique. There is the one sided communication style which many employees do not like and have a hard time working under. This business management technique can work well however with a large company of low skilled workers. The technique can also work well when a company is in crisis and needs to have answers right away or decisions made very quickly.

The paternalistic technique for business management would include a manager that will give more attention to the social side of the business for his employees. This type of business manager will also keep in mind the views of his employees. These managers are very concerned on how happy their employees feel, almost the same way a father would. These types of paternalistic managers care more about the employees’ views and will consult with the employees on a regular basis. The manager still makes the final decision but for the best of all the employees. They listen to all the feedback from the employees no matter how many there are. The paternalistic manager believes that their employees still need direction and so this technique of management still can look like an autocratic technique. This technique of business management slows down decision making so is not good for fast paced businesses.

The last business management technique is democratic. In this type of management technique the manager puts trust in their employees and will help encourage the employees to make the decisions. These types of democratic managers empower their employees by giving them authority it the particular business. These managers will also listen to the advice and ideas of their employees. The democratic style managers need to have good communication skills for discussion groups that are common with type of management. The democratic manager also needs to be willing to push employees into leadership skills. The best democratic system occurs when all decisions are based on the majority view of all the employees. This is hard to achieve however and will lead to a longer wait in the decision making. There can be more mistakes in a business with this type of management technique because the workers may not always be skilled enough to face some of the problems they have been empowered to fix.

Ultimately the best technique for business management would be to incorporate parts of all these techniques. A good business manager will be able to distinguish between what types of direction their employees need and how to go about it. Not every employee is the same and so no technique will work for the business as a whole.

This comparison of the top business management techniques is to just give you an idea of what types are out there. If you are a business manager you will need to find your own technique. Look at the comparisons of the top 3 techniques and find what will work best for you and your business.

© 2009 Economic Development. All Rights Reserved.