Not having the right team (or having a wrong one) is the third main reason to why startups fail, states an analysis from CB Insights. It’s preceded only by the lack of market for their product and cash for keeping the business afloat. What this means is that the importance of your team is huge, so building it is a great responsibility that will likely determine if you can or cannot succeed. Take your time to assess the candidates, consider their personalities as well as skills, and, most importantly, train them to perfection.
Here’re 4 Tips for Building a Dream Team for a Startup –
1. Define your culture before looking for a team
If you take a look at the 10 Examples of Companies with Fantastic Cultures from Entrepreneur you’ll see that the businesses mentioned there are some of the most successful in the world today. It’s not a surprise as their staff loves what they do and gives their all to the company.
If you want your team to be this way, you need to define your culture and then hire the people who will identify with it. A company culture is your business’s ‘personality’. The term encompasses the working environment, ethics, values, mission, expectations, and goals. Once you define all of them, you’ll have the biggest part of your perfect employee profile ready. All that’ll be left is to add your requirements towards their skills and experience.
2. Assess both strengths and weaknesses of the candidate
No one is perfect. That’s the most important thing you have to remember when building a dream team for a startup. You must accept that every member of your team will have weaknesses and decide if you can deal with them before hiring.
This rule is the same for anything. For example, as a small business you’re definitely looking for the best cheap hosting, right? This means you accept your budget size and service limitations that come with it. However, you still compare the offers to find the best cheap cPanel host. By studying them, you determine which of the limited packages will work best for your specific business.
It’s the same with hiring staff. You need to see the person’s failings and weaknesses and assess them from the point of view of their performance for your business. The most important question isn’t ‘Is this person good or bad?’ but ‘Can this person help my startup succeed?’
3. Take your time
You can’t build a dream team for a startup in a week. That’s completely normal and nothing to be worried over. However, if you want your team to be efficient, which is the key to your initial success, you need to take your time in choosing them.
Interview as many candidates as you can and be sure to keep your mind open. If possible, have a trial period so you can see how the members of the team interact and whether they can work together effectively. Don’t rush in making decisions that might decide if your startup lives past its initial year.
4. Train your team diligently
No team is ‘born’ as a well-oiled machine that propels a business forward. It’s your job as a leader to make it so. This means that once you find employees that have the characteristics you require, you must teach them the ins and outs of your business as well as train them to work together. Team building activities are as important as lessons on your product/service in the beginning.
Your main goal is to ensure each of your team members can:
- See the ultimate goal of your startup.
- Understand their position within the company.
- Understand what they can and should do to help the business achieve its ultimate goal.
- Understand the roles of other team members and work with them smoothly.