Becker Private Equity & Business Podcast
Building Teams in Business – 9 Quick Points 2-5-25
Wed, 05 Feb 2025
In this episode, Scott Becker shares nine essential insights on building and maintaining strong business teams.
Chapter 1: What are the key points for building teams in business?
Chapter 2: Why is it important to spell the myth of the solopreneur?
This is Scott Becker with the Becker Private Equity and Business Podcast. This discussion is around building teams in business, nine key points. So bear with me on this and obviously I'd love your feedback on it. 773-766-5322. And I'll go through nine quick points. First, we're going to spell the myth of the solopreneur. We've talked about this a lot. I happen to be a believer in
Chapter 3: How can you identify and grow your best people?
that if you're building anything substantial, you better be building teams. And I don't really see a way around that. It is what it is. Second, double down on your best people and your best leaders. You need great people. You need great leaders. And you need to constantly identify these people, double down on them, and grow around them.
Chapter 4: What strategies help in promoting and taking care of your team?
We often say about people, professional relationships, and so forth, double down, stay the course, or abandon. We have a separate podcast on that concept. But double down on trying to take care of and help your best people and your best leaders. Third is always look to promote and raise people and take care of them proactively.
Don't wait until they're so irritated with how they're getting paid or how they're getting treated that they want to leave for greener pastures. The underpaid person who wants the job, there's also this concept that sometimes you can hire people really cheap, and I would tell you not to.
You better pay them what they're worth, even if they don't think they're worth that, because sooner or later they'll realize it and go elsewhere anyways. The fourth concept we talk about, it goes to the solopreneur concept, is that with teams, you could have great, great success. Any of the great entrepreneurs of our generation or prior generations, none of them are solopreneurs.
They might have big business brands, the Steve Jobs, the Bill Gates, the Jeff Bezos, the Elon Musk, but all of them were built and built individually.