If you’ve spent any time around me, you've likely heard me say, “It only takes about five smart individuals to make millions of dollars.” The standard response I receive is, “Yeah, but what five?”
As we wind down 2010 and begin to execute on our revised, refined and reignited strategies for 2011 I’d recommend that everyone begin by taking a step back and looking at their leadership team. If you want your business to grow, or simply survive, you need to have the right people doing the right work starting at the top.
As a business consultant I see weak business models, weak leadership teams, inexperienced management teams and untrained staff daily and I ask myself, “Why is it so difficult for so many companies to succeed?” In general, most companies I’ve worked with have good product(s), offer decent services and have a reliable support team to work with customers. So, why do these models fail when the fundamental building blocks are there, the customers are there and the stars seem to be aligned? How long can we blame it on the economy? I think a more effective exercise would be to take a closer look at the management team: Are they the right five?