I. Businessman. (Part 12)
Running a business is akin to being a juggler. There are many priorities. Each equally important.
Most small and medium sized businesses are promoter driven. But somewhere along the way, you will need to be in a position to let go.
As a businessman, while staffing your organization, you would need to keep the future in mind.
Learning No: 14
You need the ‘Rock Stars’ and the ‘Roadies’
For any business to flourish, you need the support of your team members. And you could broadly define them into two categories.
You need to have the Rock Stars. People, who know their work, are excellent at it and can achieve in minutes, what others take hours to do.
They are difficult to find. They know the value they bring on board and are usually paid well above industry standards.
However, the problem with rock stars is this… they are loyal, only to themselves. You cannot count on them to stay with you forever. As soon as they deliver more than they promised, they will begin to blackmail you, asking for a raise or a promotion with the threat of quitting if they do not get their way.
Further, they are constantly on the lookout for greener pastures, so they are always available ‘in the job market’.
So why do you need them?
Because of the fact that for whatever time they may be with you, they give your business a spike. They more than pay for themselves, however short their stint with you may be. And they help you get inroads into business opportunities which you could only dream of, functioning alone.
Then there are the Roadies. Steady. Hard working. But not spectacular in their abilities. You will spend more time with them, training and retraining them. Explaining processes step by step. Overseeing their performance till they have understood the requirement completely.
They are contented. They do not have aspirations to reach for the moon, they are happy with wherever they have reached.
Roadies are easier to find. They are cheaper to hire. They are the ones who are grateful for an opportunity to be employed with your organization. Given the choice of changing to a better paying job, they choose familiarity, over a raise.
So what benefit do they bring on board?
They might not be the brightest, or the highest achievers, but the fact is that they are the anchors of your team.
They ensure a certain stability about your organization & business. They are loyal to you and the organization. They are the ones you can trust, because they are the ones who will never go against you. They will stand by you in good times and bad. Something that fair weather Rock Stars wouldn’t.
So how does that affect your team structure?
Having only Roadies means that your business will only be as big as you can make it. You will drive all the growth personally and your team will be present only to support you. Somewhere along the way you will realize that a day has only 24 hours.
Having only Rock Stars means that your business will grow extremely fast, but crash even faster.
To succeed, you will need to find the right balance between the two.
And that is where your skills as a juggler, will come into play.
TO BE CONTINUED…
(This is part 12 of a series of blogs on my learnings as an entrepreneur )
Read Part 13 here