February 1, 2023

Unitranche

Supportive Business Potential

5 People You Need on Your Team To Start a Business

Opinions expressed by Entrepreneur contributors are their own.

Starting a business can be a lengthy and challenging process. As a commercial real estate broker, I see companies begin regularly. Observing these business startups has allowed me to see the benefits of proper role delegation. Many sole proprietors are eager to take on the bulk of the business duties. But, the team route is the ideal path when organized correctly.

Some skills are advantageous, no matter what business you are starting. Since it is nearly impossible to do everything yourself, having a team behind you is best. Depending on your business plan, you could either hire your team or have partners. Diversifying your team’s skills is desirable regardless of whether the team is on salary or has an ownership interest.

Related: The 5 Crucial Phases of Building a Team

1. The numbers guru

One skill to have in a team member is strength with numbers. This team member may be an accountant by trade or should have solid bookkeeping skills. In addition, your business will need a team member who is wise with money and understands how to manage business funds. This team member’s duties may include: balancing the business books, keeping tax records and producing financial reports such as profit and loss statements and balance sheets.

Related: What Should You Do When Team Members Aren’t Pulling Their Weight?

2. The analytical

Having strong analytic skills is another essential trait. This person needs to possess the skill of reading and understanding complex documents. Some of the roles of your analytical team member will include managing the process of forming your business and the forms and contracts your business needs. In an ideal world, your analytical team member would be a business attorney, potentially saving your business money on attorney fees.

The money-minded and dedicated document team members will work closely together. Combining these two roles is an option to consider. However, if you coalesce these roles for one team member, it is critical to confirm the team member can handle both functions.

3. The artist

Artistic talent is another skill that can be a massive asset for a business team member to have. Most companies will need a logo, website, flyers, banners and business cards. The entire team will benefit if one of the team members can design these items and is proficient in photoshop or other graphic design software. Although I am a fan of all team members having a voice, especially with logo design, there can often be too many cooks in the kitchen. If you have a team member whose purpose is to put together the best logo possible, trust them and do not have other team members overtake this role. It is also important to note that artistic skills can easily be outsourced. If you need a creative member on your team, you can look online to fill this role.

4. The tech lead

With technology being prevalent everywhere in today’s world, having a team member who is tech minded is highly advantageous. Responsibilities of your tech team member can include setting up your business computers, printers, networking, emails, backups, & virus protection. When you have a computer issue, it can shut down your business. By having an inside tech team member, you will be back up and running sooner rather than later.

If your tech team member can assist with the company’s website, that would be an additional asset. Depending on the complexity of your website, consider outsourcing the initial creation. If the design and programming are highly elaborate, it is not wise for your tech team member to devote time to creating the website. Once it is up and running, you will need to make periodic updates. Having a team member that knows how to make these updates will save your business time and money.

5. The salesperson

From day one, you will need a sales-minded individual as part of your team to grow your business. A sales-minded person can also handle marketing since marketing and sales are closely related. Skills this person should possess include the ability to network and prospect. Strong customer relationship skills are also vital to keeping existing customers. Tasks for this role will involve prospecting for new business, attending networking events and closing deals.

Social media posting will also be the responsibility of the sales and marketing position. Considering it can be challenging to find a non-owner to be as dedicated to this role as an owner, many business owners will be in charge of sales and marketing.

Before you make your team official, have a test meeting. You want to make sure your team works well together. At the test meeting, put together your agenda and stick to it. If any of your team members repeatedly get off-topic, this could be a red flag. You do not want to spend time in meetings with anyone getting off-topic. Sometimes people disagree in meetings to disagree, and it is crucial to have your team be on the same page as often as possible. Additionally, it is a good idea for your team members to be friendly with each other, but it is also important to keep professionalism a top priority.

Good luck with compiling your team. Remember to take it one step at a time and be mindful of your leadership style. A cohesive and happy team is key to a successful and profitable business.