What's the most challenging part of running a business?

People. Emotions, desires, and egos make people tricky to deal with. It's the one thing school never prepares you for. When I got my MBA (nowadays, it's called YouTube), I learned strategy, finance, and law, but every damn professor forgot a key component, how to successfully lead human "beings." I made some unbearable mistakes early on, mostly due to my own ego, which has since been shattered and rebuilt.

Follow these three simple but powerful tips to lead and grow a successful team:

Tip 1: Lead the person, not the role.

Every person is unique. You can never lead people the same way, just as you can never parent children the same way. Everyone has their own personality, strengths, and weaknesses. You hold people accountable to the same standards but always lead them differently.

Tip 2: Understand people's capability spectrum.

Before you delegate any task, project, or area of responsibility, you should understand where someone falls on the capability spectrum. On a scale of 1 - 10, rate a person's current capabilities and experience in a particular area. 1 being they have low capabilities and no history of success. 10, being they have high capabilities and a history of success. You give them a wide range of control and space.

Tip 3: Know role players versus grow players.

Early in my leadership journey, I spent so much time trying to improve underperformers. But you can never want someone to succeed more than they do. A role player is essential to any team. They are people who want to do their job and do it well. They're not looking to grow beyond their current function. A grow player strives to learn, grow and develop. Invest your time in these two types of players.

Having the right team and knowing how to lead them makes business a breeze.