In addition to the leadership qualities, another factor which will mean the difference between the success or failure of the company is the structure of that organization. Many organizations fail, not because they lack good employees or strong leadership, but because they have a structure which is fundamentally flawed. Like a house built on sand, once the water strikes, the entire building will come tumbling down. When you looking to expand your freelance organization into a small or medium sized business, the first thing that you must pay close attention to is the structure of this organization.
When I use the term “structure,” I'm referring to the communication and business operations. How do you and your employees communicate? In what manner are projects completed? What schedule does everyone work on? Will the structure contain virtual employees, physical employees, or a combination of both. If you use a combination of both, will both sides be able to communicate?
We recommend building speed into your organization from the very beginning. In the Information Age, speed is extremely important. Your goal, regardless of what field you operate in, is to operate at a higher rate of speed than your competition. Not only must you operate at a higher rate of speed, but the end result of your efforts must be efficient as well. Achieving this with your organization will not be easy by any means. You will need to have a solid organizational structure, good people, and effective leadership. With these qualities there is no reason why you should not be able to expand your operation into a six or even seven figure one.
It is also important for your organization to remain on the cutting edge of technology. It would be foolish to assume that technology is not a driving factor in an organization's ability to remain competitive. Technology gives you speed, and speed is one of the few things that matters in the Information Age. At the same time, it is dangerous to become too heavily dependent on technology. Technology should be thought of as being a tool, not a means to an end.
Ultimately, the greatest organizations in the world are those which are highly robust and resourceful. As the leader of your company, you must be wary of waste. Each day some of the largest corporations on the planet waste untold amount of resources, and this is because they have become so powerful, wealthy, and dependent on technology that they don't see this waste of resources as being a problem. Your goal must be to avoid following this path. If you're able to do a lot with a little, there is no limit to what you will be capable of achieving.
Your employees must always be treated in the right way. Treat them with too much kindness and they will take you for granted. Treat them with too much hostility and they will grow to hate you. To become a great leader, you must find a level of balance between the two extremes. The rewards that you should give to your employees should be rare, but when they do occur, they should be sudden and spectacular. When you discipline your employees, you should do so with a firm hand, but not with unnecessary anger. Yelling and bickering with your employees is a big “no.” Any disputes you have with them should be solved in a calm and civil manner. Your organization must be thought of as being an extension of your own body and mind.