Do you have the right teams for growth?
While both talented business builders and a disciplined process are important for profitable growth, having experienced, talented, highly motivated business builders working full time is the far more important ingredient for success. NextVista can help your organization identify people that have the skills and expertise to take your business to the next level.
The Importance of Business Building Teams
Full time business building teams, with full time leaders, are key to successful growth. It’s tempting to avoid explicitly investing in major growth initiatives by letting projects operate “under the radar” or assigning several talented individuals to work on a project part time. But such projects are always second or third priority, and not appropriately managed or resourced to create a sense of urgency, focus and motivation.
Dedicated teams of “Business Builders” are different. It’s often possible to find and reassign talented operating managers from the core business to be part of these teams. But in many cases it’s also necessary to bring on board experienced business builders with complementary skills and specific domain expertise, who can leverage the strengths of an existing organization.
A “Business Builder”:
- Thinks less about short-term results and more about the wider world, future trends and their potential impact.
- Has an agile mind, is curious, makes connections, and turns things on their side to see how they might work in a different context.
- Creates a sense of urgency and risk taking, is willing to make decisions with less analysis, and is extremely resourceful.
- May also be tough, unrelenting and less respectful of authority. They can also be extremely impatient as they seek to cut through the red tape.
When lining up teams, it’s best to start small and add diverse resources as the business initiative proves out.
- In addition to maintaining a very high bar for teams working on major new growth initiatives, start with small teams in the early phases to control expenses and create close-knit entrepreneurial family with a sense of purpose and camaraderie.
- Retain outside consultants when their specific expertise is needed, and contractors to minimize long-term payroll expense.
- As major initiatives became more mature and investment hypotheses are proven, reassign additional internal personnel and ramp up the hiring of industry professionals for key functions. Their industry knowledge and contacts can be critical to long-term success and growth potential.