The Wrong Team Can Kill Your Dreams (And Bank Account)
Introduction:
Imagine this: You’re standing on the precipice of success. Your vision is clear, your passion is burning… but your team is a dumpster fire. Misunderstandings, missed deadlines, and a toxic atmosphere slowly poison your progress. Your dream isn’t just dying – it’s being murdered by incompetence. This isn’t a horror story; it’s the chilling reality faced by countless entrepreneurs and small business owners. The wrong team can literally bankrupt your dreams.
My Own Personal Nightmare
Would you pay someone to go and rob you? Absolutely not! But that is what we do every time that we hire the wrong person. Not only do we need to hire the right person, but we also have to know when to hire. Me personally I have made the mistake of hiring the wrong individual, at the wrong time, and for the wrong reason too. An employee should either save you money or make you money. If he or she is not doing one of those 2 you need to fire that person. Either they are not doing a good job or you did not need them in the first place.
And if you are working for somebody else; don’t you ever think that you are being paid what you are worth. That will never happen unless you own your own business. The company or person that you are working for needs your work to produce enough money so it can cover your salary, and business expenses and of course, make additional money for the company. That is called capitalism. Back when I had the trucking company I made a mistake that cost me a contract with the USPS that we had. Because I made a bad hiring decision, I lost the contract and, therefore the majority of the revenue for the company. And that was the beginning of the end. That started a chain reaction that led me to my first bankruptcy. And everything is because of a bad hiring decision. In my case, it was the right person but at the wrong time.
I experienced some success with that company and I went and got a nice office in a fancy building. I just wanted to fit my ego and show people where my business office was. One more time letting pride get the best of me. And so you know, what the bible says in Matthew 23:12 NIV: For those who exalt themselves will be humbled, and those who humble themselves will be exalted. So God humbles me one more time but not before teaching several lessons about hiring the right people and the right time for the right reasons.
I hire the right guy to run my office. But I hire a lot of wrong people to run the company’s operations. I got lazy and didn’t take the time to hire the right team. I thought that some positions in the company didn’t require to have to best candidates. I just wanted to take some of the workload off my shoulders and I thought I could go by with less qualified individuals in some of the company’s positions. I could not be more wrong. When I lost that federal contract, guess what happened? The first team members that I lost were the good ones. Because they didn’t want to be part of a failing company and they knew they were good so they could get another job really easily. And I don’t blame them. I would have done the same thing in their position.
But I was stuck with those few bad apples. That lacked the skills, and work ethic required to try to get the company out of the hole that I put it in. I am not talking badly about them. They only knew what they knew. It was my fault in the first place for hiring the wrong individuals, and the wrong time, and for the wrong reasons. The moral of the story; take your time and do your research well before you hire someone. That decision can make or break your business.
The High Cost of Bad Hires (And It’s Not Just Financial)
My story isn’t unique. Research by the U.S. Department of Labor estimates that the cost of a bad hire can equal 30% of the employee’s first-year earnings. But that’s just the tip of the iceberg. A 2023 Gallup study found that actively disengaged employees cost the global economy $7.8 TRILLION in lost productivity. It’s not just about the money; it’s about:
- Morale: A bad apple spoils the bunch. One toxic team member can create a culture of negativity that infects everyone.
- Turnover: Constant hiring and firing is expensive and time-consuming. A revolving door of employees can destabilize your entire business.
- Missed Opportunities: While you’re dealing with internal chaos, your competitors are innovating and gaining market share.
- Burnout: As a leader, the stress of managing a dysfunctional team can lead to exhaustion and disillusionment.
The Antidote: Building Your Dream Team
The good news? It’s entirely possible to build a team that elevates your vision, not destroys it. Here are the essentials:
- Values Alignment: Hire people who share your passion and work ethic. This is far more important than technical skills alone.
- Clear Communication: Set crystal-clear expectations from day one. Regularly check in and provide feedback.
- Diverse Skills: Seek out individuals with complementary strengths and weaknesses. A well-rounded team is a resilient team.
- Accountability: Establish a culture where everyone is responsible for their actions and results.
- Investment in Growth: Provide ongoing training and development opportunities to keep your team engaged and motivated.
Conclusion: The Future of Your Dream Is in Their Hands
The people you hire are not just employees; they are co-creators of your destiny. Take the time to find the right team – the ones who will inspire you, challenge you, and help you bring your vision to life. The success (and sanity) you’ll gain are worth far more than any short-term financial savings you might achieve by settling for less.
Remember: Your dream deserves a team that will fight for it, not against it.
