Back in 2001, just before the tragic events of September 11th, BuildDirect was in the process of closing on a $15 million dollar round of financing to enable us to hire and build the company faster. Our technology, while nearing completion was still not ready, and we still had a lot of work to finish before launching our platform. We were out to change an industry, and with that exciting goal, it was fairly easy to attract a strong team. On September 10th 2001, we had 32 employees but were still pre-revenue. By the end of September, we were in survival mode. Our financing had gone sideways. We had to finish the technology and launch but had virtually no money left. We were in a tough spot to say the least. Rob and myself both took out extra loans on our homes, raised a little bit of money from friends who still believed and layed off 20 people with the hope of buying time until the markets improved.
I tell this story because what happened next was incredible and not at all expected. We thought the we had a strong team prior to our hand being forced by events. Looking at the various resumes and backgrounds of the group, it would be hard not to draw the same conclusion. It was only with what happened next did I learn my first lesson of a strong team.
The 12 people that remained with the company were not prepared to let the company fail. They were 100% committed and it showed in our results. No politics, just action towards a common goal. The company grew at least double as fast with 12 people as it did with the 32 previously. We finished the technology, launched our Webstore, and built out our product offering quickly. Our sales grew at an incredible pace as new customers found us and happy customers referred us. It was an incredibly exciting time for our company.
As the US housing market collapses, our sales are still growing, so I feel we are doing many of the right things to help our customers win in these trying times. Times like these though, tend to quickly identify strengths and weaknesses in teams.
Last week while on holidays, I read a great book on the subject by Patrick Lencioni called The Five Dysfunctions of a Team. It is a must read for anyone leading a team. It reinforced many of the things that were present on our team back in 2001 and the things that we must ensure we keep.
As I said in the title, Great teams win!!!! Winning is the benefit that everyone sees but there is a hidden benefit of a great team….. It sure makes the journey more enjoyable.
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