Build teams, not products
While it may be tempting to focus solely on building the next big product or service, the truth is that it is the people who make a company successful.
In all my years working in this sector, one of the most valuable lessons I have learned is that building a strong team is crucial for any company that wants to be successful in today's fast-paced and competitive business environment.
While it may be tempting to focus solely on building the next big product or service, the truth is that it is the people who make a company successful. A team that is cohesive, motivated, and skilled is essential for creating and delivering products and services that meet the needs of customers and drive revenue growth.
Sadly, lot of companies out there are prioritising their product over their teams (people).
“While it may be tempting to focus solely on building the next big product or service, the truth is that it is the people who make a company successful.”
Team definition
But, what is a team? you might ask. Well, let me tell you first that a group of individuals working together is not a team by itself, we need something else in the equation.
My favourite spanish songwriter, Joaquín Sabina, states the following in one of it’s songs: “…dos no es igual que uno más uno.” (”…two is not the same as one plus one”), and I really love quoting him here as it synthesis the idea, basically, that the total output of a group of people working together is not the sum of their individuals. It can actually be less, or, in fact, more.
We can see this principle in action in all areas where a group of people is working together to accomplish a mission: lower-budget football teams winning leagues.
“The total output of a group of people working together is not the sum of their individuals. It can actually be less, or, in fact, more”
From my perspective, a team is a group of individuals (with different skills, backgrounds, and perspectives) that use effective communication, strong leadership, a shared sense of purpose, and a commitment to working together to achieve a common goal.
Why companies should focus on teams
With all that in mind, we could state that there are several reasons why companies should embrace a team-first approach instead of a product-first, to cite, among others:
1. 🚀 Productivity
One of the main reasons why companies should focus on building teams is that a strong team can be more productive and efficient than a group of individuals working independently. When team members really work together, they share ideas, collaborate, support one another to achieve the common goal of the group. This leads to a more efficient use of time and resources, which result in faster development of products and services, as well as increased revenue.
2. 💪 Reliability
A strong team can also help a company navigate through challenges and unexpected obstacles. When a company is going through difficult times, a team that works well together can help the company stay focused on its goals and find solutions to problems. This can be especially important during times of change and uncertainty, such as during a pandemic or economic downturn.
3. ☺️ Satisfaction and retention of employees
Building a healthy team culture within the company leads to improved employee satisfaction and retention. When team members feel valued and supported, they are more likely to be motivated and engaged in their work, which can lead to higher job satisfaction and a lower turnover rate. This can help a company save money on recruitment and training costs, as well as maintain a skilled and experienced workforce.
Conclusion
Building a strong team is essential for any company that wants to be successful in today's business environment. While it may be tempting to focus solely on building the next big product or service, companies should remember that it is the people who make a company successful. By focusing on building teams, companies can increase productivity, drive innovation, navigate through challenges, and improve employee satisfaction and retention.