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In business and in sports, having great players at every position can make the difference between success and mediocrity—and even failure. Not all companies are positioned to attract the best talent. Often this is due to factors that are not within your company’s control.
Factors such as the market’s potential, company culture, capitalization and ability to raise additional funding, product attractiveness, competitive positioning, financial performance, and many others play a role in determining whether superstars will consider joining your team or not.
One thing you can control is hiring the absolute best you can find and giving them proper incentives so that the management team and the company are aligned on what "success" really means. This simple process will ensure togetherness of thought and facilitate cooperation across the team. In addition, you need to be the keeper of the culture that has made the company successful to date.
The combination of management team alignment and proper culture will help create an environment that will allow your company to prosper.
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
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