If you have ever been on a successful sports team, it’s likely that every member of the team understood their own role and how each of their teammates’ roles collectively impacted a winning outcome. It is no different in business. I previously discussed the importance of having the right business partner(s) and, expanding on that topic, would like to highlight the importance of team when building and growing your company.
I happened to play a lot of team sports in both high school and college, and believe there are many similarities between business and sport. The importance of your team in building and growing your business cannot be overstated. To give an organization a better probability of success, here are several key factors I believe help to create a strong and enduring team.
There absolutely must be a shared vision and agreed upon set of goals for the organization that are created and driven by the leadership team. The strength of the team is enhanced by a common vision and set of goals that will define success. This creates an environment that will ensure the team is working toward the same objectives that result in driving the business forward.
A strong team should have members with a diverse set of skills and expertise. Building a team of individuals that bring different skill sets to the table results in a wide range of ideas and solutions. The organization will be better able to tackle issues or challenges more effectively and the team itself will be much more effective. Being able to work together as a group, brainstorming and discussing issues in real time, absolutely provides more innovative and quicker resolution to challenges, in my experience.
I believe a strong team shares together in their successes and failures, which results in shared accountability and a stronger bond among all team members. Knowing that you can trust and depend on your team also improves culture and morale, creating a tremendous work environment. When the entire team is invested in the outcome and each other, they are more likely to go the extra mile to achieve the business’s objectives.
Resilience is built across teams, especially in challenging times. The team can adapt to challenges much more easily when they have been through difficult periods before. When a team is faced with obstacles, the strength and commitment of its members serves as a strong foundation on which to pivot and find new strategies to overcome the situation. This results in team members supporting, motivating and encouraging each other.
A team-first mindset can also enhance the client experience. Together, the organization can be more responsive and attuned to specific customer needs and preferences. This focus can create better products or services and lead to customer loyalty and confidence — all are critical to enduring client relationships and a successful business. This customer focus helps create a business that is sustainable and ready for growth. It further enhances a business’s resiliency by reducing or eliminating silos, fostering communication and creating ways to scale and run the business more efficiently.
A team-oriented mindset in business should create a strong, collaborative environment that I believe is essential for success. It directly impacts innovation, productivity and the long-term sustainability of the business. When competing in business, outcomes may not be measured in 60-minute intervals but, in my experience, a motivated, skilled and harmonious team has the best shot at winning in the long run, regardless the field of play. ●
Fred DiSanto is Chairman and CEO of Ancora
