Career Testing
Career Testing
Career Testing
ENTREPRENEURSHIP / DEC. 31, 2016
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Entrepreneurship Essentials: Building a Successful Team

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Starting a business always requires dedication, but although hard work is expected of any entrepreneur who’s interested in realising their dreams, that is not the only thing needed. To ensure success, you need to learn how to delegate responsibilities, and this is where hiring a successful team comes in. By hiring a group of talented professionals you are ensuring that you will not only have someone to assist you in realising your vision but you are also ensuring that you’ll remain faithful to your career goals.

But, not all entrepreneurs find it easy to delegate responsibilities, especially if they are just starting a business. In fact, most entrepreneurs feel insecure in handing over responsibilities as they find it hard to believe that anyone else would be able to informed enough to make decisions about their business, which is a huge mistake. A successful team will do a lot more than simply make smart decisions; it will also help the business grow to its full potential by adding knowledge and insight to each step of its growth.

Among the many other benefits of building a team that shares your vision is the fact that you’ll be adding talent to your business. As an entrepreneur and a visionary professional you should know that talented people let their creativity and innovation flow freely and when it comes to starting a business, this be the difference between success and failure.

A talented team will introduce new ways of doing business, while they’ll be able to implement innovative ideas to make their work more efficient and as a leader, you should invest in hiring a team like that. Also, a team of capable individuals will be able to provide you with constructive feedback. You’ll find this valuable when you are building a startup as there are a lot of decisions that need to be made that you might require help with.

The five step guide below will help you build a successful team so make sure you take a careful look at each of the steps listed.

Step 1: Assess Your Competencies

The first step obviously has to do with identifying your employee needs and to do that you first need to assess your own competencies and identify your weaknesses. Your new hires should be able to complement your skills, and this means that you shouldn’t recruit professionals who are exactly like you, but rather you should look for individuals who can add to your vision.

You shouldn’t look for people who are strictly like-minded, but rather you should look for diversity in opinions and knowledge as this will push you to be more realistic about your idea, while it will also ensure that you’ll make better-informed decisions. So, if for example, you are the sort of entrepreneur who has very creative ideas, but has a hard time in determining whether they are realistic or fit financial limitations, then you should hire someone whose strong suit fills that gap as they’ll improve your vision on the whole.

Step 2: Make a List of Personality Traits You Require

Apart from looking at qualifications and skill sets, it’s also important to be decisive about other characteristics you desire your chosen team to possess. This means that you should come up with a list of personality traits that you’d like each person in each role to have and create a complete profile of the ideal candidate for each of these roles.

Creating a complete profile will help make the recruitment process smoother because you’ll have a very specific vision of what they should be like. This process will also help you receive applications from better quality candidates as you’ll be able to write a much more targeted job description. Also, if you’re planning on poaching employees, you’ll be able to be more targeted.

To build a successful start-up you need all team members to be excited and passionate about their goals because it’s only with this attitude that they’ll be able to come up with creative ideas, therefore you should consider passion for work (and the industry in extend) as your number one requirement.

Moreover, your new team members should be go-getters. You need people that will be willing to solve problems on their own and be capable of independent thinking. You need them to take initiative and follow through as otherwise they’ll end up weighing you down.

Apart from the attitude, however, you should also look for candidates who are knowledgeable and experienced. To add value to the company you need professionals who know the industry well enough to understand its trends. It’s therefore advisable to avoid recruiting professionals who have previously worked in bigger companies as there’s a good chance that they’ve only been tasked with a specific set of responsibilities and might not be able to switch between tasks. Hiring people that have previously worked in small to medium businesses might be more to your benefit as there’s a good chance they’ll be able to take more initiative and be more independent and confident in their work.

Step 3: Where to Start Looking for Team Members

If you are just starting a business, then the hiring process will be entirely different to the recruitment process of an already established business. This is because when hiring for an already established business you have specific roles that professionals need to fill, whereas when you are starting a business you might not have specifically predesignated roles, but you will need people who can demonstrate initiative and determination.

Posting on job boards might be something you want to avoid as it’s unlikely that you’ll be able to find quality candidates there. You may want to consider head hunting employees on an individual level. Use social media platforms like LinkedIn to find professionals that possess the skills and experience you are after. Through these platforms, you can approach your chosen candidates and share your vision and designs for your startup and see if they find the opportunity of working with you appealing.

It’s important to point out that at the initial stages of a start-up, your employees need to be a lot more than just people who take directions from you. They need to be seen and treated as partners as their input will be valuable.

Step 4: What to Do if You Are on a Tight Budget

One of the biggest problems most startups face is that their budget is tight. Recruiting everyone you need to have a functional business might not be quite as easy as you’d think. Even if your angel investors are willing to go the extra mile and provide you with the funds to hire a superstar team, there’s a good chance that your budget will still be short.

What you can do in this scenario is find ways to get the job done without actually hiring anyone on a full-time basis. Look for talented freelancers who might want to work with you and offer their services on a part-time basis until you can offer them something more stable.

Other solutions involve finding people who might want to intern for your company, although in this scenario you’ll likely only find graduates who won’t have the level of experience you might desire. Hiring people on a part-time basis could also help you get started but keep in mind that the key is to attract talented professionals.

Step 5: Set Specific Goals

No matter how talented a team is, there’s only so much it can do if they don’t have proper direction and this is why it’s important to be a great leader as an entrepreneur. You not only need to inspire your team, but you also need to break down their work into manageable tasks that will allow them to focus and produce results.

To do this you need a concrete business plan while you also need to break down your vision into steps, this will make your goals more targeted while it will also increase your chances of succeeding.

 

Building a successful team will help any entrepreneur achieve their goals much faster and in a more straightforward manner. In fact, every startup who wants a shot at success should invest in its people and this means that you need to look at the recruitment process as a process of adding value to your company. Start by looking at your strengths and weaknesses and identify skills you are lacking, then find people who possess these skills as well as other requirements you consider essential and offer them a position. Although most people value stability, if you can communicate your vision you’ll be successful in getting people to believe in your vision.

Do you have any other questions on building a successful team as an entrepreneur? If you do, please let us know in the comment section below.

See Also: Entrepreneurship: The Art of Going Solo in the Business World

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