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Start for freeThe Power of Scaling People in Business
Founders who prioritize growing their people generate twice the revenue compared to those who don't. This means you could potentially double your business simply by focusing on developing your team. As someone who built and sold three businesses by age 28, leading to a $100 million net worth, I can attest that scaling people is the key to scaling businesses.
Key Principles for Growing Your Team
1. Demonstrate, Don't Just Talk
Leadership is caught, not taught. People will model your behavior more than they'll listen to what you say. This applies to both big and small things in your company:
- How you give feedback
- How you invest in people
- How you speak to team members
- Small actions like cleaning up or helping out around the office
Leading by example is crucial, especially in an in-person environment where people can observe your actions closely. For remote teams, focus on demonstrating the big things consistently.
2. Demonstrate Before You Duplicate
Before expecting others to perform tasks or embody certain qualities, show them how it's done. People need to see you in action before they can effectively replicate your methods.
A great example is my former executive assistant who, after years of observing my leadership style, was promoted to director of operations. She naturally adopted my approach because she had seen it in practice countless times.
3. Be the Ultimate Example
Your team is a reflection of your skills. If you want your team to excel in a particular area, you need to be exceptionally good at it yourself. Aim to be a 12 out of 10 in the skills you want your team to develop.
For instance, if you notice team members struggling with giving direct feedback, examine your own feedback style and adjust accordingly. By setting a higher standard for yourself, you provide a clear model for your team to emulate.
4. Anchor to Their Goal
To effectively grow someone, you need to understand their personal goals. This allows you to provide targeted feedback and opportunities aligned with their aspirations.
Key points:
- Always know your team members' goals
- Guide them towards setting clear objectives if needed
- Prioritize their personal growth over company interests
- Act as a GPS, helping them navigate the fastest route to their goals
5. Create a Deliberate Growth Plan
Growth doesn't happen by accident. It requires intentional action and often involves discomfort. To grow your team:
- Put them in challenging situations
- Support them through struggles rather than shielding them from difficulties
- Create clear growth plans with specific actions and milestones
- Focus on acquiring skills through real-world challenges rather than just formal training
6. Foster a Culture of Growth
What you reward in your company gets repeated. To create a culture that encourages growth:
- Reward imperfect action over punishing failure
- Reinforce effort and progress, even when results aren't perfect
- Make challenges into opportunities for team members
- Normalize trying new things and learning from mistakes
- Push people out of their comfort zones while providing support and clarity
Practical Steps for Implementing Growth Strategies
Identify Skill Gaps
- Paint a clear picture of the desired end state for each role
- Assess current skills using a red-yellow-green system
- Focus on addressing "red" areas first
Create Growth Opportunities
- Assign challenging projects that stretch team members' abilities
- Put people in situations where they must use skills they're developing
- Provide support and encouragement throughout the process
Accelerate Skill Development
- Prioritize frequency over duration when practicing new skills
- Create multiple opportunities in quick succession for team members to apply new abilities
- Follow up regularly to assess progress and provide feedback
Stay Close to Your Team
- Interact with team members frequently to understand their strengths and weaknesses
- Work closely together on projects to observe skills in action
- Maintain open communication channels for ongoing feedback and support
Case Studies: Successful Growth Initiatives
Improving Public Speaking Skills
A team member who initially feared public speaking was encouraged to present to a group of portfolio CEOs. Despite initial struggles, continued support and opportunities led to her becoming one of the company's best presenters within two years.
Developing Direct Communication Skills
A team member wanting to improve at difficult conversations was assigned multiple challenging calls over a two-week period. This intense practice led to a significant improvement, moving from a 5.5/10 to an 8/10 in direct communication skills.
Enhancing Team Collaboration
An employee perceived as "not a team player" was placed on multiple projects requiring close collaboration. With guidance on preparation and communication strategies, they transformed into a highly valued team member within three months.
Conclusion: The Compounding Effect of People Development
Investing in your team's growth is not just about individual improvement—it's a strategy for exponential business growth. By creating a culture that values and actively promotes personal development, you set the stage for innovation, efficiency, and scalability.
Remember:
- Growth often feels uncomfortable, but it's essential for progress
- Consistent, small improvements compound over time
- A team that grows together achieves more than the sum of its parts
By implementing these strategies and maintaining a relentless focus on people development, you position your business for sustainable success and create an environment where both individuals and the organization can thrive.
Scaling your business ultimately comes down to scaling your people. Make this your top priority, and watch as your team—and your company—reach new heights of success.
Article created from: https://www.youtube.com/watch?v=QFmlmVjmMg0
