Tips on Creating a Multimillion-Dollar Team

Clarity Now clarityNOW Tips on Creating a Multimillion-Dollar Team
Sep 12, 2022 1:44:25 PM · 4 min read

In business, we often hear that it's all about who you know. While connections and networking are essential, the people you work with daily significantly impact your personal and business growth. Whether you have the right team in your corner can make or break your success. An old saying goes, "If you want to go fast, go alone. If you want to go far, go together." This is especially true in business. This article will discuss the importance of team culture and give tips on creating a multimillion-dollar team. 

What Is Team Culture?

Team culture defines a team and its members' shared values, beliefs, and attitudes. It's the "personality" of a team and what makes it unique. Strong team culture can be the difference between a team that just gets by and a high-performing team that consistently achieves its goals.

What Makes a Bad Team Culture?

Bad team culture can be pretty easy to spot. This team has a lot of infighting, backstabbing, and drama. Group members constantly try to one-up each other, and there's little trust or cooperation. They're more concerned with getting their deals and commissions than helping the team succeed. In short, these individuals may become your direct competitors instead of your allies.

What Makes an Awesome Team Culture?

The best team cultures are built on trust, respect, and communication. These are the teams where everyone works towards a common goal and is willing to help each other to get there. There's a sense of camaraderie and belonging among members. Everyone trusts that they can rely on their teammates when things get tough. 

How Do You Know If Your Team Is Thriving or Dragging You Behind?

Ask yourself, do you jump out of bed every morning looking forward to going to work? Are you happy to see your team?

Or are you feeling like you're in a lull and finding it challenging to accomplish your daily goals? And do you actively avoid interactions with specific team members?

If it's the latter, your team will likely drag you down instead of helping you thrive. Even though it is easier to avoid the problem, it will only fester and worsen over time. You may try convincing yourself that you can tough it out or that things will eventually improve. As Shad Helmstetter, author of What To Say When You Talk To Your Self:

"All too often, the words we had said to ourselves when things went wrong contributed to the problem—instead of making it better or helping us solve it."

But the truth is you need to take action now. So, how can you turn a negative team culture around?

Go Internal

Let's face it, you're the boss of your company, and you're responsible for setting the team's tone. If you're unhappy with the team's culture, it's time to take a good hard look in the mirror and ask yourself what role you play in the problem and why you are letting this problem get in your way of success.

Take Action

Now that you've taken time for introspection, it's time to take action. Address the issue head-on with your team and devise a plan to change the culture. If a person is not matching your company's values, it might be time to have a difficult conversation or let that person go. It's not always easy, but it's necessary for your team's health and end goal.

Misconception About Building the Ultimate Dream Team

Many people think that a multimillion-dollar team is a stroke of luck in meeting the right group of people. You need to work to find the right people and put them in the correct positions. From there, you need to provide them with the resources they need to be successful.

The Pressure to Invent a New System

Many individuals feel they must invent a new system for building their team. But in reality, you don't have to reinvent the wheel. Use the system that has worked for others and put your spin on it.

Using Emotion Instead of Logical Decision Making

When hiring, we often allow our emotions to interfere with our logical decision-making. We might hire someone because they are a friend of a friend or because we feel bad for them. But when we do this, we are not doing ourselves any favors.

Instead of looking to save people, hire people who can thrive as individuals and look for active solutions. Take your emotions out of the equation and use logic to make the best hiring decisions for your team. Ultimately, if your team does not align with your core values, it will be difficult to have a successful business.

How to Build Your Multimillion-Dollar Team

If you're willing to work, you can create a team of high-performing individuals who will help you achieve your business goals. But before making your move, slow down and take your time to identify the core values of yourself and your company.

Hire for Fit

When you're looking to hire someone, make sure they will fit your team well. They should share the same values and vision as the rest of the group. They should also be able to work well with others, be coachable, and a self-starter. When you're trying to leverage time for self-improvement, you do not have time to micromanage someone.

Build a Stronger Foundation

Strong team culture is built on trust, respect, and communication. If you want to create a multimillion-dollar team, start by creating a foundation of trust by being open and honest with your team about your goals, expectations, and feedback. It also means being transparent about the decision-making process and sharing information freely.

Bottom Line

Building a multimillion-dollar team is no easy feat. It takes time, effort, and the willingness to put in the work. But if you're willing to do what it takes, you can create a high-performing team to help you achieve your business goals. If you are looking for more inspiration and tips, stay tuned to ClarityNOW's Real Estate CEO and Rainmaker podcast series. 



Helmstetter, S. (2017, June 20). What to Say When You Talk to Your Self (Updated). Gallery Books.

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