The first step in building a sustainable and strong company is to form the right startup team.
Because the strength and success of an idea or product is not what venture capitalists invest in, but the strength and ability of the team, they fund teams.
While a good plan is great, plans can change when new opportunities arise or market conditions change. A solid startup team can easily adapt to any change or pivot.
Here are some tips for building a startup team.
Do not start with an executive layer.
You need to hire people with more functions than just VPS if you are building a startup.
Two co-founders can help you get started. For example, you could be the businessman and your cofounder might be the creative engineer.
This sounds like a great team. But you need to ensure that you get along.
Transfer your experience to functional roles
Today’s startup culture encourages inexperience. While you may be the CEO of your startup for the first time, there will be lots of learning on the job.
Do not surround yourself with inexperienced people. Experience is important.
Generalists are undervalued
You’ll need to use generalists in the beginning stages. People who are able to think outside the box of their job or function and can be creative, as well as people who can do many things.
This framework should be firmly rooted in your young business. Hire the core technical skills that you require, but surround them by generalists and people who can switch between roles quickly.
Be open to failures
People who have had to fail and then bounce back are often better employees than those who have never been in that situation.
Failure can be a powerful source of insight. People who fail but are not defeated by it and can find a way to get back up again have the right personality to lead a startup or young company.
Don’t hire people like you
It is vital for startups to cross-pollinate ideas, talents, and philosophies.
You’ll spend a lot of time with people you like.
Keep your eyes on the next step
It is important to look out for character when hiring employees. This is because every employee you hire will be a magnet for future hires.
Hire an egomaniac and don’t hire them, regardless of their ability.
They’ll do more harm than their talent can compensate for. (And if you are that type of asshole, you should admit it and get help.
Passion is the only thing that can replace it
Many startups don’t have the resources to pay top talent. If you are like most startups, you need people who are passionate about what they do.
Your team must share your passion for what they do. Your team should view your efforts to change the world by building your business as a valuable endeavor.
If they are not passionate about what they do, or don’t feel they have a positive impact on the world, they will treat your passion as if it were their job.