I have worked with a number of women recently who have exponentially grown their businesses in a relatively short amount of time and, each time, the same questions/challenges have come up.
· How do I know if I have the right team in place?
· If not, then what do I do about it?
· How can I possibly handle all this new work if I start making changes to my team?
So my first suggestion is always the same: Take a deep breath. Acknowledge that you are killing it on business development and that this is a fantastic problem to have.
IT WOULD BE MUCH WORSE IF YOU DIDN’T HAVE ANY WORK AT ALL.
Okay, now that we’ve taken a moment to be grateful and proud of ourselves, let’s get to work. Have you ever heard the saying “Sometimes in order to grow, you have to let go”? That applies to your team as well as to many other things—like toxic clients, bad habits, self-doubt, etc. In this case, it means taking a step back; evaluating what your most effective corporate structure, processes, and procedures would look like if you could start from scratch; and then beginning to build that.
In some cases, you will have team members who are excited and motivated by changes in their role and responsibilities. These people are like gold. Others are very uncomfortable, and even threatened, by change. These people need to go. It doesn’t have to be confrontational or mean in any way. You simply thank them for all they have contributed to your company and explain that you are moving in a new direction and require different skill sets from your team.
The biggest mistake you can make is keeping someone around who is clearly no longer a fit for your company. You know that whole square peg/round hole metaphor? No matter how hard you shove, it just isn’t going to work.
One other thing to keep in mind. Even if you aren’t experiencing this type of revenue growth, it is a good idea to always be building a bench. That doesn’t mean you hire anyone until you actually need them. It means you should always be on the lookout for potential hires. If you can keep a bench of a few people who might be interested in contracting work should you need it, then parting ways with old team members who are no longer a fit will not be such a scary idea.