Choise.ai

<p>Effective team management is the secret to scaling your business.</p><p>I have built several <a href="https://www.entrepreneur.com/starting-a-business/the-complete-12-step-guide-to-starting-a-business/297899" rel="noopener noreferrer nofollow">businesses</a> in my life, and my foremost task has always been to assemble a <a href="https://www.entrepreneur.com/en-ae/growth-strategies/great-teams-produce-great-results-the-importance-of-team/278858" rel="noopener noreferrer nofollow">primary team</a> to set the foundation for the main business processes. Skilled  professionals that care about what they are doing and are dedicated to  ensuring the success of whatever venture you&#39;re undertaking. After all,  80-90% of your business success depends on having the right people with  you.</p><p>Role delegation</p><p>My first task when launching a new business is finding the &#34;right&#34; people so the team can <a href="https://www.entrepreneur.com/leadership/why-most-entrepreneurs-arent-delegating-effectively/359603" rel="noopener noreferrer nofollow">scale in size and skill</a>.  My second order of business is to find someone who can handle the bulk  of management for me. After that is taken care of, I can step aside and  only get involved in <a href="https://www.entrepreneur.com/leadership/youve-had-the-annual-strategy-development-meeting-now/289008" rel="noopener noreferrer nofollow">strategic development</a> as a founder. I went through this model several times in my life, and it has proved itself invaluable.</p><p>Scaling a business from 20-30 employees to 50-100 is a massive milestone in the career of all entrepreneurs. For <a href="https://www.entrepreneur.com/growing-a-business/how-agility-and-resiliency-help-small-and-medium-sized/392725" rel="noopener noreferrer nofollow">big and medium-sized businesses</a>,  management delegation is essential. Instead of trying to control  everything to the last detail, better results can be obtained by finding  a team of competent professionals that can provide in-depth focus on  specific tasks and branches of the company.</p><h2 id="header-0">More brain power</h2><p>In any organization, there will always be contrasting views and opinions, and the task of a wise CEO is to put together a <a href="https://www.entrepreneur.com/business-news/how-to-assemble-a-creative-team-that-clicks/231366" rel="noopener noreferrer nofollow">creative team</a> that can generate the best ideas. Business models shouldn&#39;t be set in  stone but should shift and change based on the circumstances in which a  company operates. The world is constantly evolving, so blindly following  a rigid business model risks leading a company to bankruptcy.</p><p>Paying attention to the team&#39;s ideas is needed to maintain a <a href="https://www.entrepreneur.com/en-gb/leadership/5-ways-to-discover-the-creative-in-you/339852" rel="noopener noreferrer nofollow">creative spirit</a> and dynamic business model. When a rational, well-reasoned idea is  proposed that does not radically contradict the company values, a good  founder has no reason to oppose its implementation.</p><h2 id="header-1">Effective crisis management</h2><p>When  the business is running stable, and profits are going up, founders can  take a step back and provide general guidance for the company in its  growth while leaving the management details to subordinates. However,  during a <a href="https://www.entrepreneur.com/growing-a-business/5-ways-to-help-your-business-win-in-times-of-crisis/354718" rel="noopener noreferrer nofollow">crisis</a>,  founders should return their focus to overseeing company operations  directly and dedicating themselves to solving the situation.</p><p>I  experienced this firsthand: before I started Crypterium, which is now  Choise.com, I was CEO of a company engaged in the processing business.  At one point, it became apparent that this market did not have excellent  prospects, so we needed to reorganize and find a new direction to  develop in. My idea was to build a business in the <a href="https://www.entrepreneur.com/topic/cryptocurrency" rel="noopener noreferrer nofollow">crypto</a> space.</p><p>Together  with the team, we applied our expertise and evolved into a crypto bank.  A lot of effort went in, and the process was not easy, but thanks to  the combined effort, we were successful and have significantly  developed.</p><h2 id="header-2">Diversity is a virtue</h2><p><a href="https://www.entrepreneur.com/leadership/6-ways-to-cultivate-a-diverse-and-equal-workplace/372201" rel="noopener noreferrer nofollow">Diversity</a> is a virtue in business. Regardless of what type of business we&#39;re  talking about, there should always be a mix of different competencies.  This is especially true for startups in emerging spaces such as fintech.  This market often moves so fast and unpredictably that a diverse team  is needed to always stay on top of the newest changes.</p><p>Successful  teams combine different competencies and skills to develop the company&#39;s  potential most efficiently. It is essential that each position suits  the team members&#39; characters, for example, reliable and responsible  lawyers, honest financiers, daring marketers, creative designers,  proactive sales managers, and so on.</p><h2 id="header-3">An inclusive workspace</h2><p>Our  team has always been open to people with different backgrounds and  views. It is essential that team members feel comfortable at work to  avoid a <a href="https://www.entrepreneur.com/leadership/15-ways-to-spot-a-toxic-work-environment-before-you-take/358814" rel="noopener noreferrer nofollow">toxic environment</a> that is detrimental to the company&#39;s goals.</p><p>However,  a set of shared values is needed to unite a diverse team of different  characters, nationalities, and viewpoints. That&#39;s where corporate  culture steps in, combining very different mentalities with values  common to the whole company</p><h2 id="header-4">To summarize</h2><p>Some founders  often make the error of being too much of a perfectionist and always  wanting to have everything under direct control, no matter how  unsustainable the workload is. However, effective team management is a  must-have for any entrepreneur on a quest to scale his business.  Building a team of target-focus professionals is essential for any  entrepreneur with a substantially big company. Remember, no one can do  it alone.</p><h2 id="header-5">Entrepreneur Editors&#39; Picks</h2><ul><li>Online Scams Are More Sophisticated Than Ever. <a href="https://www.entrepreneur.com/article/439344" rel="noopener noreferrer nofollow">Here&#39;s How to Shop Safely on Black Friday and Cyber Monday</a>, According to a Cyber Intelligence Expert.</li><li>This Guy Saved Barbie From Cultural Extinction. <a href="https://www.entrepreneur.com/article/438472" rel="noopener noreferrer nofollow">He Did It by Asking One Big Question</a>.</li><li>The <a href="https://www.entrepreneur.com/article/437455" rel="noopener noreferrer nofollow">Top 5 Hot Franchise Categories for 2023</a>, According to One Industry Expert</li><li>Why Can&#39;t We Resist Black Friday and Cyber Monday? <a href="https://www.entrepreneur.com/article/439143" rel="noopener noreferrer nofollow">A Behavioral Economist Explains the Psychological Forces</a> That Make Sales Irresistible.</li><li>I Couldn&#39;t Sleep. I Obsessed Over My Failures. <a href="https://www.entrepreneur.com/article/438913" rel="noopener noreferrer nofollow">Then I Found the Weirdest Cure</a>.</li><li><a href="https://www.entrepreneur.com/article/437750" rel="noopener noreferrer nofollow">This Pitch Scored a $250,000 Investment</a> — But It Almost Didn&#39;t Happen</li></ul><p><strong>Read full article: <a href="" rel="noopener noreferrer nofollow">https://www.entrepreneur.com/leadership/5-team-management-secrets-from-a-serial-entrepreneur/438627</a></strong></p>

Vladimir Gorbunov CEO Choise.com for Entrepreneur: 5 Team Management Secrets From a Serial Entrepreneur

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