Building a successful business is not a job for one person. So, a founder’s ability to build a team with complementary skill sets to their own is one of the keys to continuous business growth! In this episode, Robert Hurst shares some of the key lessons that he and his partner learned while co-creating an award-winning international music corporation.
Robert’s corporate experience, the lessons he learned from his entrepreneurial father, and his ethical and customer-focused approach to business allowed him to reach greater heights as a founder and CEO than he had ever imagined. Now, as an investor, he is focused on helping other entrepreneurs achieve their goals and making a positive impact on the world.
Effective team for continuous business growth
Building an effective team is crucial for achieving success in any endeavor. It involves carefully selecting individuals who align with the organization’s vision and values, possess complementary skills. They also need to demonstrate a strong work ethic. Creating a positive team culture built on trust, open communication, and collaboration is essential. Effective leadership plays a vital role in setting clear goals, providing guidance, and empowering team members to excel. Regular feedback and opportunities for professional development foster continuous growth. By fostering a cohesive and high-performing team, organizations can maximize their potential, overcome challenges, and achieve outstanding results. Building an effective team is an investment that yields long-term success and creates a positive and productive work environment.
Episode highlights:
- Robert’s journey from employee to entrepreneur to investor, and how he is now using the lessons he has learned along the way to help other entrepreneurs thrive on their own journey’s. (03:04)
- You can’t do everything yourself! The success of your business depends on the team that you, as a founder, surround yourself with; complementary skill sets are key. (06:02)
- The growth trajectory of Robert’s company, Bengeho, and the process that he and his partner, Andrew, went through of bringing on board a private equity company when the business got too big for them to manage alone. (08:49)
- Shared values and ethics made Robert’s and Andrew’s business partnership thrive as it did for the 20 years they worked together. (18:14)
- When Robert and Andrew interviewed potential hires, they always took note of whether they used the word ‘passion,’ because passion is one of the key factors that can carry a business through difficult times. (22:16)
- Financial strain that comes with bootstrapping a business (as Robert and Andrew did with Audio Network), and the deeper understanding of your business that you will gain as a result of going this route as opposed to the venture capital route. (24:19)
Robert’s best advice for entrepreneurs
“It’s never about one individual. It’s about a team of people with complementary skills. If you can assemble a great team of people around you, you become very, very investable.” (04:28)
