According to my extensive research on self-made millionaires, most business owners who fail don't fail because they have a poor product or service or because their unique product or service does not yet have a marketplace. They fail because they have the wrong people on their team.
When you have the wrong people on your team, mistakes, poor planning, bad judgement, bad decisions, lack of skills and the wrong attitude all doom your endeavor. When you have even one wrong member on your team, failure becomes a real risk.
Therefore, if you want to succeed in business, it is imperative that you build a team of the right individuals who possess the traits that ultimately lead a team to success.
What unique traits do the right people possess?
In my book, "Change Your Habits Change Your Life," I list all of the traits successful business owners look for in their team. Here are the top four must have traits for the members of your team:
- Experience. The right people on your team are seasoned, which enables them to build better plans by incorporating proven processes. Experience also supercharges their judgement – they make the right calls at the right time.
- Acquired intuition. The right people on your team can anticipate potential pitfalls, avoid mistakes and calmly navigate unexpected events. Since they've been through the fire, they expect things will go wrong and anticipate solutions to potential problems long before those problems emerge.
- Skills. The right people on your team have the kind of superior skills that enable them to perform at a higher level, improving the product or service that you provide.
- Can-do attitude. The right people on your team do not cave when things go wrong. Instead, they grit their teeth and find solutions to seemingly intractable problems. They see solutions to problems, not just problems.
When you find the right people for your team, they become powerful links in a chain. The more "right people" you have on your team, the stronger that chain. And the stronger your chain, the greater your chance for success.
The right people do the right things at the right times. They have the experience, intuition, skills and attitude that melt away obstacles, pitfalls and impediments, making success not just possible, but probable.
When any member your team lacks even one of these critical traits, they weaken the chain and increase the risk of failure which can result in operating losses that can, over time, take down the entire business.
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