How to find the right team for a startup?
Finding a right team for my startup venture has been the biggest challenge for me. How can I overcome this?? If I have fewer contacts, like-minded friends and peers
Hi Shakti, it is all about finding good Calibre people that can add value to the business and have the skill level to work in a start up environment. You need to document the exact type of people you need and provide job descriptions and what will be expected of then in there role. Advertise or use a recruitment company. Provide a good business plan to discuss business with interviewing staff. Contact me personally for more in depth information. Thanks Nigel
If you aren`t already a member of LinkedIn then I would strongly suggest to join... Find pertanant groups for your venture, join the groups and start following the threads mindfully watching who the top contributors are... Connect with them and inquire as to rather or not they may be interested in your venture OR if they know anybody close to them that may be interested.
Biggest professional forums of People who are passionate about their occupations.
Reading your background, I see you have been affiliated with many clubs, ventures, and organizations. Did you not associate with colleagues in those endeavors and activities? That would be the first place I would look.
Shakti, there are a couple of variables here.
First, if you are raising money, then the "pedigree" of the people you bring on is more important than if you are self-funding.
In either case, finding people that will work for upside compensation (for at least a part of their package) is essential. If they are just working for a salary, they are not vested emotionally.
Second, having a team that has worked together before and that already trust one another (as well as know each others strengths and weaknesses) is critical.
And back to the first point, hiring pedigree for pedigree's sake is not a good idea. Entrepreneurial experience is way more important than a big brand name.
Read eMyth Revisited. http://www.michaelegerbercompanies.com/resources/products/the-e-myth-revisited/
Best to hire from the top down - people who can do many things, versus hiring specifically for a certain role. Then as you grown, have them write the job descriptions and hire to the more specific tasks.
If I can't help, I'm happy to.
well, it depends wha type of business you are kiccking off over there!
if consulting , you only need a well experienced backoffice resource to manage admin and schedules, the challenge will be in getting your first deals ro secure revenue specially if you have limited budget.
if it is a sevice oriented, then you need to build the core structure, define functions and look on linked in for suitable resources in your area, part time tasks would be more suitable till you assess the first year potential size and forecasts marketing plan, you need to take it slow a bit, the worst case is to recruit then fire large number of resources after one month, good luck
learn how to read resumes and develop a set of questions that are the same for each candidate.
Make absolutely sure that people you are considering share your PASSION for the venture and are willing and able to work diligently for little or no pay. Be sure the PERSONAL CHEMISTRY between or among you and your team will withstand the stresses and strains you will all likely experience.
Hello shakti , I don"t know what kind of venture you want to make , but the right team for you can be found from the same activities or there are consultants specialized in the same field , So you have to find out people connected to the same activity .
One thing you can do is identify key people in the space and offer them an entry level incentive in dividends or stock in the venture. This motivates people who are willing to bet on their own success versus on your potential failure.
Having worked on well over a hundred start ups I can say that you get a better crop of motivated people for less money than sitting everyone done and telling them that the operation is on a shoestring.
Hi there Shakti, this is a great question. I work for IBM's Smarter Workforce Group. We are the number one Talent Management Software provider by a very large margin with customers such as Bank of America, Dell, eBay, PayPal, etc... I'd love to talk with about using prehire assessments both skills and behavioral testing to identify the top talent in your field. Can you contact me next week? If so I'll show why we're number one and how you can install a WORLD CLASS hiring process.
IBM - Sr. Sales Executive
If you are a USA citizen use the Senior Core of Retired Executives (SCORE)
Check with the Chamber of Commerce
Find Funders that invest in your Industry/Sector/Technology
Check with the various universities that offer Entrepreneur Degrees/Certificate Programs
I may be interested in Joint Venturing with you or being a part of your Start-up because I'm always looking to do good sound business. Feel free to private message me.
I would advise to find character and then build skills. What's most important is attitude and will.
If not having broad network, you should contact the associations or network teams of your industry for potential industry applicants.
First you need to fill in the gaps. There are some key positions you need to fill up ( considering you are trying to start any e-business ).
Obviously you need a vision to start with. However following are three key positions you need to fill up.
1. UX Strategist
2. A good visual Designer
3. A good developer
Also nothing can be started without spending any penny. You definitely have to spend some money in marketing and to find a good resource.
If you do not want to spend any money, work hard on a concept on your own. Publish your idea on Kickstarter or some place similar,
If you do not have any colleagues that would like to join you in your new venture then I would go to one or more of the technology meet up's to see if there are some like minded individuals that have an interest in what you are doing there.
Depends on what you are doing. Identify those that have the psychological, leadership, values and capabilities that are aligned with your own. Each need to be of a different and complimentary skillset. There are professional assessments that will identify the traits that you require.
Unfortunately there is not a real cure for this problem, the biggest thing you have to deal with is people who say they are qualified to do the job yet are not. During the startup phase the most important thing is making sure that you keep everything organized. If you are a production company, or a distributor, the thing you have to worry about is keeping inventory organized. What I have found is that few people know how to organize. So the only thing I can tell you is that you are going to have to feel your way through. You will be able to discern who is capable and who is not. As soon as you see that a person can't get the job done they need to be replaced.
There are going to be many people that come to the table that claim they have the psychological, leadership, values and capabilities that are aligned with your own, but in reality they are just telling you what they think you ant to hear in order to get the job.
Define team. Is that advisers or management team?
If an advisory board, why not tap into the available resources at SCORE? Otherwise, yes network local community and trade associations. But understand you need insurance, accounting, banking and legal advisers at a minimum.
UPDATE: Sorry I didn't check out your profile first. I just noticed you are in India. In that case SCORE is irrelevant to you. However, the organization is a group of retired executives with expertise in a variety of functional areas of business. I believe you can find retired executives in India. But Dave is correct use groups like these or other social media networks like LinkedIn.
If it is management team, then you need the following:
1.) Clear description of the goals, challenges and strategy of the business.
2.) Core values of the business
3.) Will they be equity partners in the business or just employees? If equity partners how, how much, etc.?
4.) Clearly defined strengths and weaknesses. You want partners ... even employees ... whose strengths minimize your weaknesses. You also want people who have expertise in functional areas of the business and industry.
5.) Well defined job descriptions
6.) Employment and partnership contracts
Use the above as your guide posts as you network and talk to potential employees/partners. Take your time. No need to rush.
While I think that the advice Dave and Rachel offered does a good job of answering your initial question, I want to make sure you've asked yourself the why and the who of hiring.
While important ot hire people, make sure not to do so before your product is at a stage where it makes sense to significantly expand. I've made the mistake before of hiring and contracting work for a product that wasn't ready for it, and it's hurt.
I had problems like this when I was starting out. Join communities like forums and blogs, get to know people, if you see skills you need, get friendly with them, build a relationship then approach them.
Mosaichub is also a valuable source of skills, you're already a member, so use it :)