5 Tips For Building A Seven-Figure Team

A lot of successful businesses start with one person, a dream, and a laptop.

Backed by a good idea and a strong work ethic, a single person can build something incredible while working out of a garage, but if the goal is for that business to grow, one person cannot do it alone— But just because you start that way doesn’t mean you have to stay that way..

I was a solo entrepreneur before founding my creative agency, and I can vividly remember when I began generating more business than I could manage alone.

1. Mentor People

It’s important to remember that you’re not the only one with a dream. There are a lot of hardworking people out there who are hungry to learn and fulfill their potential. Once you’ve honed your skills to become a successful solo entrepreneur, it’s time to share your valuable knowledge with others who can support your goals.

2. Emphasize “Mentality” When Evaluating Prospects

There are all sorts of reasons why good workers can be a bad fit for a young, growing team. Perhaps they are risk-averse or are looking more for leadership positions than support roles. On the other hand, there are plenty of good workers who are built for the challenge of making your dream come true.

I look for prospects who possess a long-term prosperity mentality—those who would rather collect knowledge and work to realize a shared vision than making a quick buck. They should be dedicated, flexible professionals who see their time and effort as investments in their future success.

3. Learn to Delegate

When you start your own business from scratch, it can feel like raising your own child—and it can be hard to entrust that responsibility to anyone else. But when you’re the founder, owner, and CEO, you’ll quickly run out of time to do your own hands-on management as your business grows. Hiring managers, you can trust—and then actually trusting them by relinquishing some degree of control—is a daunting but essential step in scaling up.

4. Encourage Fun, Team-Building Activities

Teams need big, meaningful goals to chase, but it can make a difference if some goals are more fun and lighthearted. Establishing an incentive system that spurs a sense of friendly competition is a simple way to maintain an elevated baseline of motivation among your team. Prizes can be big or small, depending on your budget, but they should be desirable—think back to your conversations with employees about their personal goals and needs. They could be intangible workplace perks like paid time off, or they could be material rewards like jewelry, electronics, or even vacations.

5. Keep Planning For The Next Step

As you grow your business, you’ll reach plateaus where you feel like you’re fully staffed. You may even feel like it’s not the right time to grow further. This is natural, but you shouldn’t expect these moments to last. Your next opportunity to expand may come along faster than you think.

Never stop thinking about the next step in your growth journey. Even if you’re not sure how quickly that step will arrive, you should be thinking about who that next hire will be, or what new department you need to create. When the time comes, this preparation will ensure that you’re ready to act the moment your company is ripe for growth.

Building your dream team is one of the most challenging aspects of growing a successful business, but if you want to reach seven figures and beyond, it’s a crucial step in evolving beyond your beginnings as a solo entrepreneur.

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