The correct financial plan starts with the team. A small business needs to comprised of the right staff, and quality personnel can make a world of difference for a small business. When a company is comprised of employees who don't work together or communicate well, it can cripple productivity and earnings.

That is why the success of a company starts with the foundation, one built of a strong team willing to work together.

Variety creates a better company
No business operates well if every employee has the same skill set. Diversity is the key to creating a functioning company.

According to Entrepreneur magazine, a unique and well-rounded collection of people is more vital to success than expertise. This may seem counter-intuitive to some business owners, but many business runners abide by the mantra that the knowledge needed for a position will come with experience. Additionally, a good team is generally perceived to be better at problem-solving, the source stated. It can be easier to succeed this way than by assembling employees who are like-minded with similar skill sets.

The National Academy of Sciences performed research to support this claim, finding that the more diverse study group could perform better at tasks than the educated, specialized professionals. This knowledge can be applied to a small business as well. When it comes to staffing a company, serious thought needs to be put into the type of people being hired, not just what the resume states.

Relevant skills can be misleading, and sometimes its the intangibles learned throughout the interview process that is more beneficial to a company. A great financial tip is to not waste money on the wrong employees. 

Determine a clear direction
A major roadblock for any small business is lack of clarity. It is crucial that a company have a direction, and a concise mission statement.

ABC News reports that a key to entrepreneurial success starts with a financial plan and a business goal. Don't jump in to ownership because no other career opportunities appear viable – do it because it is a passion – and every new hire can gain motivation by having confidence in their employer.

The price for the product or service needs to be agreed upon early, and there can be little disagreement over this. It helps to have a company full of people with the same goals. A quality team can make decisions faster, and with less disagreement. Differing opinions is a fact of any business, but many disparate personalities could argue just for the sake of arguing.

A small business owner needs to trust the employees, and vice versa. A quality, diverse team is the best strategy to financial success.