They say it takes a village to raise a child…  I also feel the same way about building a profitable business. It takes a dream team to build a profitable business.   In fact I believe Teams are the New Passive Income.   With a dream team you can have a good living, you can be great financially, and perhaps have the opportunity to sell your business so that you can retire, travel or even pass it down to your family.   Most people don’t want to buy a single person—they want to buy systems. A buyer has to be confident that your business can run without you.   As a Solopreneur, it’s likely that when you woke up this morning, you easily could come up with ten to twenty different things you need to do. Do you work on your website? Do you post on Facebook or Twitter? Do you send out emails?   For Direct Sales or Network Marketing representatives, team building is really where you start growing your revenues and profit. It is harder to build a big organization by yourself. The best thing to do is to recruit three people and work with them to get a downline or team started.   As a Franchise, dealership, or retail business owner, the team you have in place will make or break your business. Do you have a well trained team that offers exceptional customer service? Are the right people “on the bus”? Are they in the right seats? Team building is an ongoing part of running a business.   There are three functions that every business owner has to manage, regardless of the industry you are in. They are:

• Administrative
• Managerial
• Entrepreneurial

Administrative — This is the type of work that keeps your ship running smoothly on a regular basis. It can include, bookkeeping, customer service, web design, marketing or anything that supports your Core Business. Managerial— This function is mainly concerned with organizing projects and ensuring follow through. Are you meeting deadlines? Which of your client or vendor relationships are working? Which systems do you need to keep and which ones do you need to discard? Entrepreneurial— This is the most important work because it allows you to be a leader and includes developing growth strategies, new products and services. This is the work that makes you money, and the work that keeps your business going. What I call it is the work that makes the cash register rings. Probably the main reason you got into business in the first place.   Ideally, you want to be focusing the majority of your time on the  “entrepreneurial” work in your business.   As Michele Romanow, from Dragon’s Den said, “If you want a big business you have to scale. You can’t just clone yourself. You have to build a team”.   ]]>