Surround yourself with stars: why building the right team is critical to growth
Building the right team can play a big part in your business’s growth, but that’s not always easy.
Using freelancers, who fill the skills and knowledge gaps that you don’t have yourself, can help you make the first steps in this direction.
It’s also vital to have the right external experts in place, such as an accountant and financial adviser, who understand your business and help you achieve your goals.
For Reece Donnelly, small-business owner and recent contestant on TV’s The Apprentice, building an effective team has played a big part in his success, helping him to hit £1 million turnover after six years of trading.
The founder of Theatre School of Scotland, Reece says recruiting and developing a cast of skilled employees has allowed him to take on a CEO role at the firm. But he emphasises that employed staff are usually just one part of a good start-up ensemble – freelancers and third-party experts play leading roles too.
“I’ve been the one-man band and, trust me, employing staff will help elevate your business to the next level,” says Reece, who took part in the 2023 series of the BBC’s long-running show and has become one of its most successful non-winners.
“But if employing people seems daunting, try freelancers as a trial,” he suggests. “That has been the making of my business. We had lots of downtime in the earlier days as we used to run during school term time. Employing freelancers allowed us to have a trial run for one term. Now, most of those freelancers make up our full-time roles. They grew with us.”
Finding the right financial advisers and accountants is also critical. Reece recommends looking for people who are willing to learn your business and help grow it with you. “For me, a profit-and-loss sheet is always going to be in fashion,” he continues. “It’s so important, we wouldn’t risk not having this led by external professionals. They set the foundations of the business and you can then run with the framework.”
#businessplanning #teamwork #growth
Accountancy Practice Owner | Director of Business Development | Projects and Partnerships | Changing the relationship between Clients & Accountants for the better 💫
7moSo true. Hire better than you always!