10 Lessons from 10 Years as a Founder: #9 Invest in Your People
One of the most rewarding part of being a Founder is finding talent and seeing them grow. Hiring people, giving them an important role in your business, and then seeing them flourish at it. Over the past decade, I've come to realise that investing in your people is not just a nice to have; it's a fundamental aspect of building a successful business. Your team is the backbone of your company, and their growth directly impacts the growth of your business.
One of the most crucial steps in investing in your team is to genuinely get to know them. This goes beyond just understanding their job roles and responsibilities. I’ve found it to be so important to take the time to learn about their aspirations, strengths, and areas where they want to improve. Regular one-to-one’s can be incredibly valuable for this. These conversations not only help you understand your team better but also show your employees that you care about their personal and professional development.
Once you have a good understanding of your team members, the next step is to align their career goals with the company's objectives. Are there things that they are interested in or passionate about that could help your business grow or give you an opportunity? It’s important to make sure people know there are opportunities for growth too; when employees see a clear path for their development within the company, they are more likely to stay motivated and committed.
Investing in learning and development has also been crucial for us. I will hold my hands up and admit that we haven’t always got this right – even as a provider of learning ourselves! But encouraging employees to take ownership of their learning journey and providing them with the resources they need to succeed has been great for the growth of our team. It’s been fantastic to see how some of Hable’s staff have developed over the years.
Remember, you're only as good as your people. By investing in their skills and knowledge, you're directly investing in the future of your business.
Accepting that some people will leave
Some staff will stay with you for a long time. Go on the journey with you – and be loyal, either to you, or to the company – for as long as you want them on board. But sometimes the company goals and the goals of that individual are not aligned. Sometimes people get a better offer (or one they think is better, at the time) – and sometimes you have to go to a member of staff and tell them that you don’t think your business is the best place for them. Perhaps they are in the wrong role, or perhaps the way your company is set up is not giving them the best chance of success.
We’ve had to admit – for example – that because Hable is a fully remote business, we are not the best place for apprentices or others who are early-in-career. People learn so much from being in an office – and that’s just something we cannot offer. I’ve therefore had a few conversations with talented young people (you know who you are) who are now thriving elsewhere. And that’s fine.
For them – our investment in them has helped them along their journey. It just happened that our journeys were not aligned at the time.
Investing in your people is never a bad investment. Being “on the hook” for paying wages can weigh heavy at times – but it is not just about providing financial rewards or benefits. It’s about creating an environment where they can grow, thrive, and feel valued. Your team is your greatest asset, and their success is directly tied to the success of your business. By getting to know your people, understanding their goals, providing learning opportunities, fostering a positive work environment, encouraging collaboration, offering flexibility, and leading by example, you can build a strong, motivated, and loyal team.
Your people are the only way to bring your business vision to life, so as a Founder it’s your job to look after them.
