Does a Talented Business Rockstar Solopreneur Really Need a Team?

Have you ever had a prospect who thinks they’re a rockstar and prefers to work alone?

Did you know that out of 28 million small businesses in America, approximately 22 million have no employees?  

They work for themselves.  They work solo — and they say they don’t need (or want) the hassles of a team.  

And many honest, hard-working people have the belief that “if you want something done right, you have to do it yourself.”

So it’s understandable.

But I submit to you that if you want to become wealthy, you must have a team.  And today we’re going to talk about why…

Examples of Business Rockstars

What do I mean by rock star?  Here are a few examples:  

• Solopreneurs
• Writers 
• Artists
• People who cut hair 
• People who paint fingernails 
• Attorneys
• Massage therapists
• Affiliate marketers 
• One-person agencies like advertising agencies, funnel builders, etc 

Last year (2019), there were 28 million small businesses in America, and 22 million of those small businesses have no employees. Eight million businesses have at least one employee, but 22 million businesses have no employees, meaning the owner works for and by him/herself.   

These solopreneurs don’t need, or want the hassles of a team, but I suggest that you must have a team to become wealthy. 

Every worker has a goal – to retire – and one must have a team in order to build a business and generate enough wealth to retire. Yes, there are people who make it big on YouTube, but what I have found is that you have to have a team. 

It’s a quantity of the team’s efforts, combined together that generates the wealth. 

How Should You Compensate Your Team? Salary vs Commission

If you’re a business owner and you’re going to have a team working for you, one of the things you’ll have to do is compensate your employees.  They’re going to want a paycheck. 

And the way I see it is there are two choices: pay a salary or pay commission only. 

Paying Salary or Commission 

When you pay a salary, you’re paying people to show up, and I’m not invalidating anybody with that. What I’m saying is, I’ve had jobs…so I get how it works sometimes. 

I’ve had jobs in the military and I know that there’s a whole lot of people that “skate.”  They sail; they do the least that they can, they hide when the orders are being given out on jobs and they take as long as they possibly can. I know that that occurs. As the business owner, you still have to pay them to show up.  

Eventually, you might fire them, but that’s still three or four months’ salary you spent to discover they aren’t worth having around.  That’s a whole lot of money to throw away. Some small businesses don’t survive that. 

That’s the biggest issue if you pay salary, because most of the entrepreneurs I know that run a traditional business rarely take home much money because they’re having to pay the salary or commissions. 

Or, the alternative is to pay commission only, and what you’re paying for there are “dones.” Did the work is done – get to a completion. 

If the team doesn’t get things done, then they don’t get a commission. They may not survive, but you could. They may make more money than you. And that right there is what I believe is the greatest because they get the exact same comp plan I do. 

People are talking about financial inequality and I’m like, I can see it in a traditional company where let’s say that a hospital or something like that makes a billion dollars in a year. And the average person is, I don’t know, making $30,000 a year, $40,000 a year because of the doctor pay or something like that.

And so people can get upset about that, but in a compensation plan where everybody gets the same compensation, that to me is equality. 

How can you get a better equality than everybody has the same opportunity? They have the same comp plan. 

I think paying commission only and everyone having the same compensation plan is far better.  

Why You NEED a Team to Become Wealthy

In another video I released, How to Make More Money (Network Marketing vs Everything Else), I talk about having a team and why the person who is acquiring the customer has the most security and the most profit of anything else in that product. 

If I sold water bottles, I can assure you that the glass and the water in the manufacturing process got less of a profit than the person or the company that sold it. I bet you Whole Foods or whoever sells the water bottle, gets more money there because they’re acquiring the customer. 

That’s the main thing that you’re after is acquiring the customer. That’s where the profit always sits.  And so if everybody has the same opportunity that you do, then that’s the best situation you could possibly get. That’s the most equal. 

You Can’t Be a Rockstar Forever

I hate to tell you this, but the sun sets on every movie star, every pop star, every influencer, every doctor, every politician, every warrior, every networker. 

This gentleman, Robert Redford, has always been one of the people I most admired. He just confirmed that his last movie would be his last, because he’s retiring from acting.  Every single movie he made was a residual income piece, and  for that person, it’s amazing. But not everybody can be Robert Redford,

Even the sun sets on him; the rockstar of all rockstars, in my opinion. 

How to Build (And Train) Your Team

The reason you want to build with a team is because the most amount of profit goes to the people who acquire the customer. If you have an organization of people who are out there acquiring customers, a team, acquiring customers with you, I don’t see how anybody can lose in that. 

The only way anybody loses is to not do the Pipeline. 

So for me, it’s amazing. Build your team. 

It takes repetition and the Pipeline to get a team. People will say, “Well, Tim, I’m trying to build a team.” Okay, so learn the Pipeline. 

That’s where the game is played. That’s how you get a team. 

Patience in training of the Pipeline is how you build a team. 

And I went through a lot of words before I came to the word patience. Because that’s what it takes. 

Same as required to build a traditional business. The difference is that you’re not paying salaries and that’s the fundamental difference, but you’re giving your team the opportunity to make what you make. 

That’s the fairest scenario I know of.