Be selective in building your success team! This sounds elementary but if your company is on the fast track and you are growing at a fast pace you might settle for somebody that does not quite measure up to your ideal team member.
My advice is Do Not Settle!
Your first clue to somebody that is not the best selection is the person that asks “what are the benefits that are available”; this person should immediately be escorted from your office. They are more interested in what you can give them rather than telling you what they have to offer the company. Why waste your time or theirs?
You want the person that wants to help your company succeed. They should be asking questions about the company and telling you what they have to offer that might help you.
In the beginning; I would advise you to run a lean, mean machine. Add people only as needed basis. Never allow your company to become top heavy with too many chiefs and not enough Indians!
Let’s discuss the other members of your team that you will need. These members are the outside businesses that you will need to make your company grow.
Contracting companies should add the following types of businesses to be an integral part to your success team. Your team should include an attorney, a good banker, a good accountant and a good bonding agent.
Remember this; all of these types of companies provide services and must serve you. You should beat the brush to find a company that wants to help you.
During your beginning stage and being a small company you will find some that may not be that interested in helping you grow.
Don’t allow yourself to be discouraged because and do not allow yourself to settle!
Let’s briefly discuss each type of company.
You will find that bankers are a dime a dozen and most will be too big to pay much attention to you and your needs. At the beginning use the one you need to begin your business but search for the type of banker that appreciate your business and is willing to take the time to get to know you and your company needs.
A good banker is worth their weight in gold!
One of my clients desperately needed operating capital to fund a large project that they landed. They discussed the situation with their banker and even though he couldn’t directly help them he arranged a meeting with some angel investors. Because of his help my clients were able to get the necessary funding.
That banker is great and he has a grateful and faithful client! The good ones are out there; you just need to find them!
Accountants are also a dime a dozen and you need to get a good one to cover your back. My advice concerning accountants is to avoid those that are willing to manipulate the numbers to make you look good.
You need to know how you are standing financially at all times! You certainly do not want to have to remember the manipulating if you are suddenly audited by the IRS!
Bonding companies are essential to a contracting company that wants to grow. Most commercial and government projects may require you to have a Performance and a Payment Bond.
You will find in the beginning that some bonding agents may not want to deal with you. Their money comes from the bigger companies and the bonds that they provide for them.
You need to beat the brush until you find one that is willing to take the time to get to know you. I would advise to use your networking friends to recommend an agent to help.
A wise man once told me; “you really haven’t made it into the big leagues until you are sued!”
Believe me; you need to find a good attorney that specializes in your field of business. You do not want a divorce attorney to handle your contracting claims!
Again; if you cannot find on then you should ask in your association meetings if anybody can recommend one.
My advice is to find a “Snake”! You want to find an attorney that will go for the jugular if you have any issue that has to go to litigation!
Also; never fight because of “Principle!” You will find that “Principle” can become very pricey!
In most litigation processes; the only winners are the attorneys!
I hope that this visit gives you something to think about as you put your winning team together!