The Law of Dividends

Investing in the Team Compounds over Time

 

I think that most people realize that investing in their team brings payoffs to each person on the team. Most people aren’t asking why they should invest in their team, they’re asking how. Let me give you ten action steps you can draw on to build your team. You can put these steps into motion no matter what your role is on the team. What you have to present to the team will help the team in some way. “When everyone on the team is investing, then the benefits are like those of compound interest. They multiply,” says John Maxwell, teamwork expert.

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Here’s how to begin:

  • Resolve to develop a team

Lao Tzu quipped, “A journey of a thousand miles begins with the first step.” Concluding that team members are worth building up is the first step in developing a team. That means showing your dedication.

  • Bring together the best team you can

As I’ve expounded on in other blog posts, the more talented people you have on the team, the more potential there is that the team will be great. Your business, volunteer or sports team will profit from the addition of any top picks you can find.

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  • Give in what ways you need to in order to build the team

It costs a leader time, energy and money to invest in their team. You will have to contribute time that could be used to get personal things done or to relax. You will have to expend energy that you could have used for entertainment. You will have to spend personal money that you could have spent on yourself or your family. However, the value of investing in your team will pay off in the growth of the team.

  • Support team community

Teammates who devote time doing professional and personal activities together develop into a community. The ways in which teammates can grow together are endless. Some companies support a running team. Many organizations encourage their employees to volunteer together. What the team is doing is less important than that the team is doing the activity together.

  • Encourage leadership in the team

Leadership growth for people happens when they are given responsibility and authority. If you want your team to perform on a higher plane, spread the leadership jobs around and watch your team members grow.

  • Raise the team’s morale

A way to raise a team’s morale is to compliment team members for their successes. People are willing to put in extra effort if they are praised. If you are the leader, accept the blame and give the team the credit. Then your team will stand behind you.

  • Observe your team for progress

If you invest time, money and energy in your team, you will expect a return on your investment. Watch your team members for progress. Some people advance slowly, others quickly. That’s fine. What you are looking for are improvements.

  • Discontinue investing in individuals who remain detriments to the team

It’s not easy to set down your plans for a teammate who is unable to or won’t develop. Even so, that’s what you need to do. It doesn’t mean you don’t care about the person.

  • Aid the team in maturing

Making new opportunities for the team enables the team to grow. New opportunities allow individuals to grow, too.

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  • Ensure the benefits of teamwork

A most vital duty is to empty your team’s path to success of obstacles. Your actions will determine the speed of the team. As a team member, that may entail making a personal sacrifice or improving your teamwork skills. As a team leader, that involves designing an empowered atmosphere for the team and handing each teammate what he requires, when he requires it, to guarantee victory.

Be a Better Team Member

Is your level of output matching or exceeding the level of investment your teammates are putting in you? Determine how well you’ve responded to the chances you’ve received and the learning opportunities you’ve been given. Have you conquered them all eagerly?

No matter how you’ve acted in the past, commit yourself now to making the most of opportunities coming your way. That way you can give the team a good gain for its investment in you.

Be a Better Leader

The leader, most of all, decides on the atmosphere of their organization and whether team members are empowering each other. Start by making investment in each other your team’s status quo. Enable improvement. Put energy, time and money into investing in the team. Pay special attention to investing in your top leaders. Increase the number and quality of leaders on your team and you’ll increase your return.

The ideas in this blog post were taken from John Maxwell’s book, The 17 Indisputable Laws of Teamwork.