When you’re starting a business, you have to build a great team early on. Most, if not all, successful empire businesses, have the best group of people rallying behind their backs. Nick unleashes the leader in you so you can start building great teams, free yourself up from day-to-day operations, and finally grow your business. As much as possible, you want a company that runs like a machine that’s efficient and meticulous with your procedures and systems. Find out now if you’re building a high-value, exitable business (even if you have no immedi...
When you’re starting a business, you have to build a great team early on. Most, if not all, successful empire businesses, have the best group of people rallying behind their backs.
Nick unleashes the leader in you so you can start building great teams, free yourself up from day-to-day operations, and finally grow your business. As much as possible, you want a company that runs like a machine that’s efficient and meticulous with your procedures and systems.
Find out now if you’re building a high-value, exitable business (even if you have no immediate plans to sell it). You’ll get an instant PDF report with powerful insights specifically tailored to your business in just 4 minutes.
https://highvalueexit.scoreapp.com/
KEY TAKEAWAYS
- “If you don’t find money while you sleep, you work until you die.” – Warren Buffett
- “An extraordinary quality of life is living life in your terms.” – Victor Hugo
- To build a great business, you need other people (e.g. mentor, employees, support group, etc.) Some tasks can be leveraged to other people so you’ll have more time for the more important stuff.
Why do you need to build a great team?
- You can’t scale business by yourself.
- There are 3 types of business, namely:
- A lifestyle business (10-15 employees) where you’re usually the manager
- A performance business (15-20 employees) needs an established structure to manage the team
- An empire (>20) where you’re the leader, not just the manager
- Decide on what type of business are you going to build, then think carefully if you either want to be an owner-investor or an owner-operator.
- Have an amazing personal assistant (PA) who could efficiently do the administrative tasks.
- Hire someone good in marketing. Most CEOs and founders are in charge of the ‘front-facing’ (i.e. sales), so it’s better to have someone do the other tasks.
How you lead and manage as you scale?
- Be objective and decisive in designing the structure of your team.
- A manager oversees the business projects and operations while a leader sets the tone, creates the mission, brings the people with aligned values inside the business.
- You have to have the right people in the team that believe in your mission.
- The most common mistake that leaders make is that they put the right person in the wrong place. And, also, we don’t take the tough decisions to lay off an employee even though we know that the relationship isn’t going to help forward your business.
Make yourself redundant from your business, not from your job.
- Nick advises you to work in the business, rather than work on the business. Always ask yourself if what you do is in line with your goal.
- Three different roles:
- Artist (creative) – Someone who crafts solutions
- Chaotic entrepreneur – Someone who’s all about the visions
- Manager/Leader – Someone who runs the day-to-day operations
- Create your culture early – a culture that’s nurturing and not reliant on the leader’s presence.
How to create values:
- Align the business’ visions with customer’s wants, demands, and needs
- Create systems and processes, including setting the parameters of the roles
Performance Management
- Have clear metrics of their performance that you review weekly and daily.
- Measure the impact of your business.
- How do you get the most out of the people? Develop them, improve their skills, and create incentives.
BEST MOMENTS
- “Everyone is a leader in different ways, and you have to have leadership in yourself, in teams, and other people.”
- “Having control of your time is the ultimate freedom.”
- “Get someone who can get you more time. More time is the most crucial thing you need at the beginning when you’re starting to build a great team and a great business.”
- “Think about yourself first as a leader of yourself before you think of yourself as a leader of the people.”
- “Don’t ever get tempted to choose the superstar that has a poor attitude.”
- “Your words become your actions, become your attitude, and become the heart and soul of the business.”
VALUABLE RESOURCES
- Institute of Leadership and Management
ABOUT THE HOST
Nick Bradley is a renowned entrepreneur, investor, speaker, and business growth expert.
His background is growing and scaling Venture Capital and Private Equity backed businesses globally. Over the last decade, he has completed 117 acquisitions and 25 business exits with a combined valuation of over $5bn dollars.
His mission is to help business founders build valuable businesses and create life-changing exits so they can realise freedom, wealth, and impact.
CONTACT METHOD
Nick’s Facebook page: https://scaleup.vip/FB
Nick’s LinkedIn: https://scaleup.vip/LI
Nick's Instagram: https://scaleup.vip/IG
Scale Up Your Business, coaching/consulting: https://suyb.global
Support the show: https://highvalueexit.com/
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