Crafting the Right Team for your Start-up Business
There are a number of important puzzle pieces that must come together to create a successful start-up business, but one of the biggest is the talent you surround yourself with. This can truly make or break your new business, if you fail to choose the right people to help you achieve your goals. A common mistake for would-be entrepreneurs is focusing so much on the product itself that they fail to pay enough attention to their team members. Here are a few tips to help you create the most successful team needed to get your fledgling business up and running.
Pull talent from your existing network
One of the best ways to ensure that you’re creating a core team of experts whom you can trust is to hire from your existing network. If you hire people that you’ve already worked with or have met in some capacity, you can hit the ground running straight away. If you bring together professionals from a variety of different backgrounds, it will take a lot more time for everyone to get to know each other and for that all-important level of trust to be established.
Choose team members in it for the long haul
It’s tempting to fill your staffroom with college students and interns, but you have to be thinking about the long-term prospects of your new business. Will those interns really be willing to grow with the company and transition into full-time roles when they earn their degrees? They might – but not all will. Screen your candidates carefully to find out if they are more likely to skip around from position to position, or if they are ready to work through challenges with a growing start-up. Working at a start-up requires long hours and hard work, and it can be several years before this really pays off for the team.
Provide employee incentives and continuing assessment
Money is tight when a new business is launching, and you might not have the funds available to provide the most attractive financial packages for new employees. So how will you be able to entice top-tier talent? There are other incentives that can be offered, ranging from ongoing training opportunities to shares in the company. It’s helpful to assess new team members after a few months on the job, implementing strategies for training, future promotions, and long-term career development. Learn more about training and assessment strategies through courses at training.com.au to provide this incentive to your team.
Hire freelancers along with full-timers
It might not be necessary to hire everyone on a full-time basis when you’re just starting out. You might want to hire freelancers or temporary advisers in addition to your core team. The benefit of hiring advisers is that they can give you expert advice on niche subjects, assisting with projects as they arise. This can save you money at the same time, until you really have the business running at a level at which it needs a permanent full-time staff.
Focus on creating a positive company culture
Finally, after you’ve made all of your hires and are pleased with your team, you want to start working together to really bond and move forward to meet common goals. Be sure to hire individuals who have similar philosophies, and make it clear what you want your business to accomplish. A positive, cohesive company culture will make your new workplace an attractive place to stay, boosting employee retention and attracting new talent in the future.