You have a great business idea, or you’re preparing to launch, or you already have a business, and it’s going well. Whatever your situation, you’re just too busy and there’s so much to do. So, the next step is to expand your team, right? Maybe not. Having a bigger team might seem like a good idea, but keeping it small has its benefits:
– It retains a more focused and goal specific environment.
– A closer knit team provides more confidence, co-operation and interaction.
– You have more overall control and freedom to make decisions.
Small Team Success Stories
One of the most irrelevant measures of a successful business is how many people it employs. While it’s tempting to want a bigger team because it gives off the illusion of a more successful company, that may not always be the case.
According to the 37signals team…
“… we’ve always enjoyed being a small company. Today we’re bigger than we’ve ever been, but we’re still relatively small at 43 people.”
And who can ignore the headlines for Instagram, a simple smartphone app that a team of only 13 employees generated, was bought out for $1 billion by Facebook? Even the origin of Facebook, itself, is a small team success story.
Before expanding your team, ask yourself these 3 things:
1. Can you do it yourself?
While having more people to help you out is tempting, do as many of the tasks as you can on your own. Find the best and quickest way of getting things done without sacrificing quality. If there’s too much for you or your current team to handle, evaluate every single task to see if there are things you can eliminate. Bringing in a new team member should be the last option.
2. Do you want partners or staff?
This is a very big decision. Expectations of colleagues/employees should be defined from the very start. If you want a partner, that means sharing more of the decisions. If you want staff, that means you’ll have to be a manager and oversee everything your employees do. Both choices are very different, and must be made with a lot of careful consideration.
3. Do you have a Hacker, a Hipster, and a Hustler?
These 3 profiles are commonly referred to as “The Dream Team For Success”. Consider the type of members on your team, make sure that each one of them contributes something invaluable and unique. You don’t have to limit your team to 3 people, nor to these profiles, but a great way to keep your team small is to limit profile overlap.
The strength of your team will translate through the success of your business. Whether you keep it small, or choose to expand, think very carefully about what kind of team your business really needs.
Are you thinking about expanding your team? Have you just made it smaller? Let us know how you make decisions about your team and if you have any tips to share!