Building Your Money Machine

TES 029 - How to Build a Team


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In this episode #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham reveals in-depth about hiring and building a team, and their talents. The different things to consider in attracting talent, building a team and developing it are talked about. When it comes to scaling a business, an entrepreneur cannot do it alone. A skilled group is required to provide assistance to leverage a business.

These are the things that we need to look for when building a team:

  1. Skills: Skillset is the minimum price of entry. It enables them to get the work done. It tells whether or not people have the proficiency to tackle the daily work and challenges. So, do they have the skillset?
  2. Values: It impacts the integrity and ethics of a business. There should be an alignment of values and it will allow you to keep the team members with the necessary skillset. If you have people with different values, it will destroy a business. So, figure out your as well as the individual values of team members and understand it well.

If the correct skills are present along with the alignment of values then the next thing to do is hire someone. After hiring, the entrepreneur has the responsibility to continue developing the members and self-actualizing that growth.

For it to happen, there are three things that we must look at:

  1. Core Functions: Understand the core functions of your business and communicate it well. Find the core function that each individual team member will be serving and make sure to communicate it as well.
  2. Critical Outcomes: State what success will look like for your business and for the team members. Ask the question not only to yourself but to your team as well. For everyone, the picture of success should be the same.
  3. Coaching: The people that are working with us need to grow. To develop them, it will take coaching, guiding and mentoring. As their leader, you have the responsibility to grow their skillset and make them feel more fulfilled.

As your team members grow, they become more valuable. Their fulfillment will make them want to cheerlead and support you. The outcomes will certainly grow. There will be higher results and in that process everyone wins.

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ABOUT MEL ABRAHAM

Mel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s So

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Building Your Money MachineBy Mel H Abraham, CPA, CVA, ASA

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