#136 Building A Strong Team in The Shifting Market

We only have two kinds of markets - a buyer market and a seller market. Either you get high supply, low demand or get low demand, high supply. For Oscar, he believes that it's vital to know the data. A great leader sees the data as no better than it is and no worse than it is. Data gives you the numbers and as a leader in the market, you have to understand your numbers. In the fast-paced world of business, you need to build a team that thrives especially in difficult times. When the market shifts, when the market changes, you need to be alive. You can join mentorship programs and be with leaders leading the way with technology. But more importantly, you need to be coachable. One of the things that you need to have in the market is a coach. You also need to be accountable, know your numbers, and develop sustainable and robust systems and methodologies that work in the market even when it changes. Communication and decision-making are both important aspects of the business. It is vital to take decisions fast and communicate them to your team through the most effective and efficient channels. More importantly, you need to analyze your business environment by looking at the demographics. After analyzing the business environment, you have to know the market. You need to know how you represent the people and how these people are represented. As a team, you need to have partners outside of your team that can help your team become stronger. In business, you need to have a contingency plan in place. Oscar believes that as an owner, you have to structure your organization where you have a linear, circular, or parameter structure. It is also vital to recognize your leaders and identify their strengths and what they can offer for your business. You need to have a system structure in place that can keep your team strong.