Healthy teams, healthy business. This is the fourth article in the series A CEO’s Guide to a Healthy Business.
Thomas Reid is one of the most famous Scottish philosophers from the 1700s. Not sure who Thomas is? Well, you have likely heard his famous argument:
“A chain is no stronger than its weakest link.”
Society has been leaning on that idiom for two centuries now, and for good reason. Teams in all settings are affected by the people who are part of it. In business, the strength—or health—of your team has a direct effect on the strength and health of your whole business.
How teams work together is an essential part of A CEO’s Guide to a Healthy Business. Let’s look at how teamwork makes the healthy business work when it comes to financial management.
A HEALTHY TEAM HAS GREAT PEOPLE
If you’ve ever needed to make personal health changes, you’ve likely rallied the people closest to you. When your inner circle is primed to support your efforts (and adopt those changes too), you are more likely to succeed. The same is true for your business’s health. When your whole team is committed and focused on the habits and actions for success, your business will grow healthy and strong.
We’ve discussed in the past how to build your financial dream team. We recommend these five roles to operate a financially healthy business:
#1 the bookkeeper: accomplishes financial tasks
#2 the accountant: ensures accuracy of reports
#3 the CFO or analyst: manages cash flow & makes predictions
#4 the CEO or strategist: maintains organization’s financial health & cultivates growth
#5 the CPA or tax agent: manages and reports tax liabilities
More than just the right roles, your dream team needs to have the right people in these roles. That’s a combination of skills, expertise, values, and personality. Finding the right person to fill the right role isn’t easy! Especially in today’s market. Now more than ever, your job as a CEO is to develop and retain long-term employees for your dream team.
A HEALTHY TEAM HAS ITS HEAD IN A CLOUD
With your financial dream team in place, you’ll want to equip them to contribute to your company’s health and vitality. One of the best approaches is the Cloud Team structure. It provides the tools and access to information needed for teams to work together toward business growth goals.
A Cloud Team allows your dream team members to work from anywhere, at any time. This is especially important for permanent remote teams. With instant access to all data, your team doesn’t need to be in a single location to collaborate.
It’s all about that real-time access. Obviously, Cloud Accounting makes your financial information available to everyone—there are no secrets, no waiting for a gatekeeper to release information. Everyone on the team has the information they need and can see how that data affects the whole team.
By embracing a Cloud Team—whether it be financial management or any other area of internal management—your business can reap the rewards of a healthy and productive team environment, as you all work together, from wherever you are, to build a financially healthy business.
BUILD YOUR DREAM TEAM
The people closest to you have the greatest influence on you, shaping the person you will be on down the road. Likewise, the people on your team, closest to your business, have the greatest impact on your business’s future success. You want to fill those roles with the right people who will contribute to your business’s overall health and vitality.
Do you need to fill a few of those key roles to build your dream financial team? We come alongside CEOs and business owners to make sure your entire company—including the team—is in tip-top shape, using our signature 5-gear financial management approach. Get in touch with us today to see how the team at Officeheads can lead your company into a healthy 2023 and beyond!
