Once you’ve set up the basics of your business, there’s the task of allocating roles to those who fit them most suitably. Here we outline our best pieces of advice for building a successful business team. It’s important that the people involved in your business are qualified, compliment other team members and share the same vision as you to ensure strong growth.
Strengths, weaknesses and filling the gaps
In between the tireless hours of business planning, take some time out to objectively consider these key points:
- Where your biggest value comes from and how to build upon that source
- Smaller operations that must be carried out in order to keep things ticking over
- The strengths of those involved in the businesses as well as their weaknesses
- Where skills can be developed and where you need to hire
By doing this you’ll be able to see which skills your team is missing. If you’re struggling to be objective during this process, ask a third party to sit in on it with you.
Which roles need filling and which can you afford?
Whilst most businesses would love to hire the best in the business for every aspect, it’s not financially viable for a company that’s just starting up. You’ll have to be pragmatic with the amount of people that you can afford to hire. Now is the time to think back to where your value comes from and the roles that will uphold it.
Before searching for people to fill the roles, do some research into the salary of each role. You can play around with the balance of salary, benefits and performance related equity options. Make sure what you decide on will appeal to the best talent. Don’t skimp when it comes to salary packages. It’s better to have an open vacancy that a member of staff that doesn’t fill the role effectively and is draining both time and money from the business.
Create a budget of what’s needed and compare it with the cash that you can afford to spend. Reflect on them and secure the information – there you have your recruitment hitlist.
Where do you find who and what you need?
Usually within start-up businesses there are 3 types of people.
- Founders taking big risks
- Those who have actively found a business
- Those not good enough to work for established businesses
Of course, you want B’s, not C’s. To do this you need to be where they are. Head to start-up events, conferences and networking groups and online groups too. Whether you stick to the same groups or disperse into different once to weigh up the talent, make sure you’re heading to them ready to represent your business and what it stands for. Make strong working relationships as these are always beneficial further down the line.
Compromise… You can avoid it
From past experience, it’s advisable that if you’re doubting somebody to not hire them. There’s always a chance that even when you’re 100% convinced on somebody that it might not work out. However, doubts around talent or cultural fit don’t often work out.
Even when you feel desperate for more staff, remember that searching for somebody is better than having an individual in the team that simply doesn’t fit in. Consider something short-term, like an intern or temporary staff, to find ways around the lack of staff.
Attracting new talent and how to do it
Beginning to build your brand and its’ culture can never been done too early. Show people what you stand for, how you go about your job and the efforts that you put in to the company. The best way to do this through new employees is to spread the culture and enforce it within the whole recruitment and employment process.
Take some time to take new employees on the journey of your company. Why you started, how you started and all of the important milestones you’ve encountered ever since. As well as this, let them know your visions for the company and where you see the company heading. Maybe it’s how many clients you see yourself having in the next year or how you envision the company expanding. When people know these key pieces of information they’re likely to get on board and put their efforts into making It happen. Especially when you’ve explained to them the benefits that they’ll see from the progression of the company.
Monitoring your new staff
Like everything else in business, none of us get recruitment 100% right. However, most of us usually click on pretty sharpish to somebody who isn’t the right person for our business. Whether it be because their vision doesn’t align with ours, their skill set doesn’t match our requirements or because they cause problems with existing members of the team.
A huge American online retailer came up with a great initiative for monitoring their new employees. After 2 weeks, all new members of staff were offered $2000 to leave. This way, only the individuals who truly felt motivated and happy in their role would stick around. Obviously not many companies can afford something like this. However, adopting a similar practice with a smaller budget would help to decipher who really belongs with your business. As well as this, there’s the good old fashioned review discussion. These should be an open discussion where opinions and thoughts from both parties are welcomed, considered and discussed.