Your business is only going to be as good as the people who run it. All successful entrepreneurs know that putting together the right team of professionals is one of the most critical steps for any businesses success, while newbie entrepreneurs often try to do it largely alone. Learn to surround yourself with superstars, and you are sure to succeed in any endeavor.
Advice from the Masters – Your Team
A one-man band will never sound as good as an orchestra. It’s highly beneficial to have an advisory board of experts in different fields meaningful to your business.Donatas Donikar – Author – Start-up Evolution Curve
Are your most talented people working on the biggest opportunities instead of the biggest problems?Cliff Lerner – Tech Entrepreneur / Author – Explosive Growth
My approach was to hire, train, test, and then fire or promote quickly, so that we could rapidly identify the excellent hires and get rid of the ordinary ones, repeating the process again and again until the percentage of those who were truly great was high enough to meet our needsRay Dalio – Author, Billionaire Investor – Principles: Life and Work
The value of exceptional people: Someone who is exceptional in their role is not just a little better than someone who is pretty good…they are 100 times better.Mark Zuckerberg – Founder, Facebook
If you could get all the people in an organization rowing in the same direction, you could dominate any industry, in any market, against any competition, at any time.Patrick Lencioni – Author – The 4 Dysfunctions of a Team: A Leadership Fable
A person can have the greatest idea in the world—completely different and novel—but if that person can’t convince enough other people, it doesn’t matter.Carmine Gallo – Author – The Presentation Secrets of Steve Jobs
If you give a good idea to a mediocre team, they will screw it up. If you give a mediocre idea to a brilliant team, they will either fix it or throw it away and come up with something better.Ed Catmull – Author – Creativity, Inc
Recommended Books – Teams
Other concepts on Entrepreneurship
A niche denotes products, services or interests that have a high appeal to a select smaller group of people, as compared to the general populace. By laser focusing your services and communication to the needs of this smaller group, you can gain much higher relevance than trying to target everybody.
Everybody has great ideas, but it is only a few that can actually act on a good idea and turn it into a viable business. The execution of an idea is often much more important than the idea itself. To succeed as an entrepreneur, it is vital that you and your team have the ability to execute.
Perseverance is the continued effort to do or achieve something despite difficulties, failure, or opposition. You are sure to come up against obstacles, challenges, doubts and failures as you progress towards your goals. People who succeed persevere with their efforts no matter how hard the challenges, while others give up on their dreams once the going gets too tough.
While the vast majority of people chase money, the ‘new rich’ have learnt the value of finding an optimal balance of TIM (Time, Income & Mobility) instead. There are 2 major advantages of focusing on TIM – (1) Having time and location flexibility, can lead to your money being worth a lot more (2) Time and Location independence can lead to happiness and content, which money simply can’t buy.