While major decisions are better made by a single responsible person, teams must be able to execute on minor decisions. Companies that create policies and procedures make it easier to execute as a team. Then its just about putting the right team together for the right tasks. It’s just like in sports and seeing how the NBA Finals just wrapped up with the best team winning, it seems fitting to write about it.
The Golden State Warriors versus the Cleveland Cavaliers was not much of a series with the Warriors winning 4 games to 1. However, what it seemed like was a team versus an individual, Lebron James. Sure, Kevin Durant is an amazing player, but just like he learned in OKC, you can’t win championships alone. Despite having Kyrie Irving, Lebron was tasked with doing too much and against Curry, Durant, Green, Thompson, West, Iguodala, Livingston, Jones, and company he was no match.
We see this all the time in business. An owner drags his business to $500k or $1 million in sales, but his competitor has built a team and is 5x larger. This is another aspect of making investments. Again, business is all about investments and deliverables, and you want that investment capital to work harder for the business you own. Sure, short term, without a team, anyone can build something of a career; however, to truly be called a business owner, the business must be able to carry on without.
The Bottom Line: Invest in hiring, training, policies, and procedures to systematize the profit machine and build a more valuable business.