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The Entrepreneur and The Team: Mutual Benefits for Success

Learn how being the dumbest in the room as an entrepreneur isn’t always a bad thing from Bobby Castro.

Good teams don’t come together in one day – they are cultured, and they grow and develop from the very first steps of the business. When you’re an entrepreneur and you’re creating the business you want, you have to create the team you want to. It’s not an easy process, but there are some ways that you can help accomplish your team goals faster.  

Bobby Castro, a self-made business mogul, joins us on this episode of Making Bank Podcast! Starting as a waiter in the Bronx to having a billionaire status with business experience under his belt, Bobby talks about the importance of having the right attitude towards the people that you work with and how to build up your dream team.  

Learn how being the dumbest in the room as an entrepreneur isn’t always a bad thing, and how crucial it is to reward your team.  

Building Your Team  

 When it comes to implementing mindsets and strategies into a company, Bobby places emphasis on recruiting the best of the best.  In his own business, he knew that he had to go out on a branch and find the best to work with him.  

“We were able to convince people to take a risk on our crazy model, our crazy business. We surrounded ourselves with people that were better than us to take a risk on us.” Bobby says that he could recognize the people that had the skillsets he needed that he needed for his company, and he used this to his advantage.  

In order to get these people to work for him, he needed to convince these individuals to come aboard. He needed these people to be on his team, or else he was going to be set back. So, he worked hard for them and treated them as partners rather than employees. By giving them mutual respect and allowing them to see how important they would be, it helped him gain their trust and experience.  

Bobby always tells entrepreneurs, “It’ll take you a lifetime to learn a particular skill set and do it all.” And in most cases, entrepreneurs fail because they don’t want to hear something other than what they are doing. They have an answer for everything – whether that actually be working efficiently for them or not.  

Eventually, Bobby surrounded himself with the best he could find. And he kept going higher and higher until he reached a point that he stepped back and realized that the company was running itself. By surrounding himself with people better than himself, inherently made him a better businessman and leader.  

It took him a while to understand that building something took time and effort, but it was worth it. “Anything big today, trust me, it started small one day. Everything thinks it starts big – it doesn’t. Everything starts small to get big.” Bobby says that when he started building his team, he started out working with one individual at a time. Before he knew it, his company and the people working for him grew right beneath his very eyes.  

Rewarding Your Team   

The important thing about this relationship with the business and the team is that the relationship is mutual. Not only does Bobby benefit from these people, but he makes it so that his employees and coworkers are benefitting from the company too. When people exited the company, Bobby said that they exited as millionaires. “We created millionaires within our organization because we scaled by making others successful.”  

When Bobby created his business, he wanted to reward the people that helped him achieve his success. It was as if he was investing in the people that he was employing – he put the time and effort into who was working with him. When the company had gotten rewarded, the employees got rewarded.  

It didn’t take him long to realize the importance of the people that he was hiring. “We were recruiting people that could have done their own deal. They were actually entrepreneurs without knowing it. We would see value in them that they didn’t see value in themselves. So, it’s your job as a leader to recognize that and treat your coworker amazing. Fertilize them every day.” Bobby says that if you don’t recognize what they are bringing to the table, someone else might, or they could discover it on their own. 

A lot of people have the capacity to run and open up their own businesses – they just don’t have the confidence to. With the way that he treats his employees, Bobby takes a different approach to it. He wants to provide them with everything they need to be fulfilled and successful. He relates it back to his days of being a waiter. He wants to serve and give value to the people that are working with him because, at the end of the day, it’s their company too. 

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Written by Josh Felber

Josh Felber is no ordinary serial entrepreneur. Not only has he penned two bestsellers (one with Brian Tracy and another with Steve Forbes), he went on to win two Emmy Awards for executive producing the acclaimed documentary Visioneer: The Peter Diamandis Story.
Josh has appeared as a guest expert on NBC, CBS, ABC and Fox, and is the host of Making Bank. Josh is focused on challenging himself and those around him to achieve consistent excellence. His mission in life is to help over 100 million people design, develop and deliver their passions.

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