While building a team is an indication of a booming practice, taking on employees does require some careful consideration. In addition to the financial and administrative responsibilities that come with staff, you must ask yourself whether you have the personality traits to support a group.

Advisors with teams generally benefit from the extra help that makes their workload easier. However, working with others calls for a process of give and take in order for the whole team to be effective.

April-Lynn Levitt, a Toronto-based coach with the Personal Coach, provides the essential questions every advisor should ask before embarking on expanding their team:

> Can I delegate tasks?
If you’re someone who likes to manage every aspect of your practice, delegating tasks might be difficult. However, it is necessary if your team members are to have a purpose.

Being a team leader includes defining each person’s role very clearly and training that individual for the job. Once that is accomplished, the next step is allowing your team member to complete tasks in the way that is comfortable for that person.

“They may not do it exactly the way you do it but if you really do a good job of defining [the responsibilities],” says Levitt, “you’re going to be more productive and leverage your time.”

> Can I provide constructive feedback?
If someone does not fulfill a task to your satisfaction, do you complain or do you use it as a learning opportunity?

If you’re dealing with a negative situation, complaining about it will not improve future results. Instead, work with your team to find the right solution to the problem at hand.

For example, your marketing assistant has waited too long to book your favourite restaurant for an upcoming client appreciation event. The location is now unavailable. Use the opportunity to talk to your team about prioritizing tasks. It is also a lesson for you in the importance of having a backup plan.

Constructive feedback also applies to a job well done. If you can praise your team members for their successes, you will have people who feel valued and happy to put the maximum effort into their work.

> Can I be open with my team?
Communication is a matter of sharing your own successes and failures. However, some advisors find that difficult, according to Levitt, as it means letting go of control and being vulnerable.

For instance, advisors who don’t share information with their team about the revenues of the practice are making a mistake, Levitt says. You will get much better results, she says,
if your team feels like a full part of your business.

> Can I be a mediator?
“The more people that are there,” says Levitt, “the more your day is taken up with what I would call ‘human resources’ issues.”

These issues, such as which team member received the bigger bonus or their preferred vacation time, can produce conflict.

Working with a team requires having an open ear to anyone who feels slighted and being able to work with everyone in order to move past the conflict.