Every growing business reaches a stage when its existing talent pool proves to be insufficient to handle the challenges it faces. To take the business to the next level, a new set of talent and competence may be required.
Sometimes, our business may need people of higher caliber or competence than our own competence in some functional areas. We may be an expert of our product or service and its technical domain. But our business may require talent of more varied nature. We may also be multi talented. But we may not have time to attend to different needs of our business. The sooner we can multiply time through competent people, the faster our business can gather momentum. Such momentum is required for building a great company.
Sometimes, business people feel threatened by the idea of hiring people more qualified or smarter than themselves. They worry that smart people may harm their business by starting their own competing business venture or by joining a competition.Such fears are mostly misplaced. Because, thankfully, people have different ambitions and value systems. Everybody does not want to start a business. And that is a good thing.
All big companies have grown by tapping the power of great teams. Microsoft may have many engineers and software wizards much more technically capable than Bill Gates. Apple may have many talented people with much superior technical skills than its co-founder Steve Jobs or the current CEO Tim Cook. Jeff Bezos may have great experts in Amazon team. But, how many have created another Microsoft, Apple or Amazon?
We as owners must look at developing a business like bringing up a child. We realize that for our child’s holistic growth, different types of help from teachers, trainers, coaches and mentors may be required and we readily take help from each of such resource. We don’t feel threatened by those resources because we know that it will help shaping our child’s life better. In order to ensure the proper development of the child into independent adulthood and a secured future beyond our own life, we want to give our child the best.
Similarly, we should aim at building a solid business which can continue growing beyond our own lifetime. Only smart people can help us do that. We should not worry about hiring people smarter than us. Great businesses require great human resources. Mediocre people can’t build great businesses. We should not let our business potential constrained by our own limitations or our ego. We should welcome people smarter than us in our business.
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