The term startup now-a-days mostly indicates young entrepreneurs brimming with ideas having minimum funds and maximum energy. However, while the ideas are often unique and find many takers, many entrepreneurs tend to ignore the importance of startup team building in the process.
Though a startup might begin at a very small scale, every entrepreneur dreams of growing big. These dreams, however, cannot be realized alone. A strong and powerful startup team building is one of the most crucial requirements of a startup. It is this core team that a startup lays its foundations on. Thus, this team requires strongly motivated and skilled members who are willing to put in their full effort to make the startup a successful venture.
While some entrepreneurs pay importance to startup team building, the limited financial resources often force to change their plans. This results in many entrepreneursstruggling alone to make foothold in the competitive market without any real success. Thus startup team building from the very beginning provides an added boost for startups that really wish to make it big in the startup world.
Why is it necessary?
Startup team building, therefore, is the foundation stone for your startup. While your business grows, develops and expands, the chief elements of your business lies on the shoulders of your core team. Thus, apart from the complex technical knowledge that is required for your startup, you also need a financial advisor, sales head and a person to look after the legal and other management issues.
Clearly, maintaining all the other aspects of your business while also providing time services to your clients cannot be handled by a single person. This calls for experts who have prior knowledge in these fields are ready to commit their time into the startup and build it from scratches.
How to choose your startup core team
While you are into startup team building, it is essential that you hire people who highly motivated professionals. It is essential to remember that funds are always on the lower side when you are at the seed-stage of your startup. Thus in such situations, hiring highly experienced professionals with exorbitant prices can be a liability for your startup.
Instead, go for professionals who are ready to join your team from their own accord. Of course you need to pay them. But most startups tend to give away company stakes to its core members instead of a regular remuneration.
Search for creators
Your startup is only at its nascent stage. In such a situation, it is essential that you look for creators while startup team building. While you may easily find people who would work, your core team should have people who are highly motivated and possess the passion to create something new and authentic.
When you build your startup, it is built from scratches. Such a situation calls for people who will make it their duty to create and grow the business. Thus, the skills and techniques required for these people would be more essentially in building and generating a team. A person who is experienced in running an already successful startup team will find it difficult to handle such a situation.
Add old acquaintance
When you launch your startup, you are driven by a certain idea that you are sure would work. This must be the mindset of people who work with you in your core team as well. However, bringing in new people might not have the desired effect. Also, you need to have a certain level of equation between you and your team members when you start your startup.
It might be difficult for you to know the worth of a new team member when you hire him/her. You would be needing a considerable amount of time to gel in and then a bit more to make him/her understand your ideas and thoughts.
Having old acquaintance while startup team building is immensely helpful. You are not only well acquainted with each other but might have shared past professional associations. This makes your work culture and work ethics known to each other. You know what are the strengths and weaknesses of the team members and can tap them accordingly.
Hire passionate people
Hire people who are driven more by passion than the financial turnovers and outcomes of the company. When you are at the seed-level, it is obvious that your finances will be low. The monthly turnovers will not go to triple or quadruple digits overnight.
This is one element of startup that entrepreneurs should make their core team clear about. Thus when you go for startup team building, it is essential that you keep in mind that they are passionate people with high motivation and has the urge to push the company forwards rather than lamenting on the low remuneration associated with new startups.
You know you have created a successful startup team when you see your ROI rise gradually on the scale. Launching a startup might take a single entrepreneur but running a successful startup needs a powerful team that is committed to its task and is highly motivated with success.