Ten Tips for Creating a Growth-Oriented Team

Business owners find themselves pulled in many different directions, without enough time in the day to complete the endless to-do list. Building a team with a growth mindset to support daily activities and ongoing customer needs is crucial to maximize business growth.

1. Think Big Picture

Before hiring, take time to look at your overall business strategy:

• Where do you see the company growing in the next year, five years or decade?

• Is your goal to acquire another business or simply grow your own?

• What customer needs can your business serve?

Determining your goals will ensure you make the right hiring decisions for creating great teams.

2. Evaluate Current Team

Objectively assess your current team, including skill sets and strengths, industry and functional experience, as well as employee interests and passions. Uncover your staff’s shortfalls so you can fill gaps. Use what you learn to update or develop new job descriptions.

3. Eliminate Underperformers

If certain employees are not performing to expectations, or are not a good fit, you may be better off letting them go to make room for more growthminded employees. Your business may not be for everyone, and you can help your underperformers find success in a different career. Remember to treat them with respect and compassion as you transition them out of your business. How you treat someone leaving is as important as how you treat someone coming on board.

4. Producers or Servicers?

If your goal is to increase your business, you’ll need to hire a producer accustomed to bringing in new clients. If your objective is improving the service to existing clients, you’re better off hiring someone focused on retention. You’ll need a mix of both types of employees to grow your business. Think about what is the right mix of growth and retention for your business model.

5. Recruit Creatively

Create job descriptions that talk about the professional growth opportunities and sell the position’s benefits, rather than simply listing the skill requirements or responsibilities. You are competing against other businesses as well as other job opportunities, so make sure your business and the job sound appealing to potential candidates. Use social media, such as LinkedIn, to creatively recruit for talent.

6. Review Carefully

Once you have attracted candidates for your position, evaluate them carefully to make sure they will be a good fit with your business culture and will integrate well with the rest of the team. Creating a cohesive team can be challenging, so make your hiring decision using an interview panel approach and ensure everyone is rating the candidates based on pre-set criteria needed for the role.

7. Train Thoroughly

Every new hire should participate in an employee onboarding process, allowing them to understand their responsibilities and functions within the business. Invest in training and development. Encourage all your employees to attend regular continuing education programs to update their skill sets. Connect new or younger team members with mentors in your network or organization who can help them succeed.

8. Deliver Feedback

Providing regular feedback to your employees improves employee engagement and increases productivity and efficiency. Having an open feedback loop will ensure your employees feel valued and appreciated, which will make them more likely to deliver higher performance and help grow your business.

9. Provide Technology

Have the right technology in place to allow new hires to perform their jobs successfully, while enabling them to stay current and motivated using the latest tools to grow your business. Younger candidates may decide which employer to choose based on factors such as work environment and available technological resources. Regularly ask employees if there is anything you can provide to enhance their productivity and keep them engaged.

10. Find Funding

Concerned about the financial resources needed to bring on new employees or purchase new technology for creating growth-oriented teams? Look for a working capital loan to help invest in your business. With low-interest rates and affordable payments, you’ll free up cash flow for other growth needs. Plus, the right new hires and upgraded technology will soon contribute to the bottom line, providing a satisfying return on your investment.