In the early days of your startup, you will find that you will rely heavily on the people you bring in to help get the business off the ground. Many investors will actually consider the team as part of their investment strategy since, in the beginning, it will be the biggest asset your startup has. When building a team, it is important to consider a variety of factors to ensure that your team is strong, dedicated and has the skills needed to bring your new products to the market.
Avoid Too Many Co-Founders
While you may be tempted to bring everyone involved with early stages of your new startup in as a co-founder, it can be one of the most expensive dilutions you will face. While it’s alright to have co-founders, keep their numbers limited and consider different roles for others who you want to be involved in your startup.
Focus on Tech
Some of the first hires you should consider are your tech team members. In today’s world, technology is crucial no matter what type of business you have. Engineers, technicians and developers are all an integral part of the business, but don’t leave out project management roles that can prove very useful when developing your products.
Build a Diverse Team
Studies have shown that the more diverse your leadership team is the more chances for success you will have. When building your team, seek out a wide variety of skill sets that compliment one another, and choose employees from varied backgrounds who will all bring a unique perspective to your business.
Sales Teams a Must
While you might not have a huge department for them in the beginning, it is important to bring in a sales team that can help you generate a buzz for your products as soon as they are released and be true ambassadors for your brand as they seek new clients each and every day.
Don’t Forget the Admin Staff
While it may not seem that important in the beginning, a well trained and highly skilled admin staff which can manage the daily needs of your office is a true asset to any new CEO. Every task that is handled by this staff is one less thing you need to worry about, allowing you to focus on other issues such as product releases and client searches.
Be Wary of Board Members
In the beginning, you will be appointing your board members. While it is perfectly acceptable to include some of your earliest employees and management team members, consider also bringing in experts from the field that work at other established companies who can provide sound advice based on years of experience in the fields you are about to enter.
A startup’s biggest asset is its people, and building the right team for your new venture can mean the difference between being a big success and succumbing to utter failure. Surround yourself with a diverse group of individuals who are passionate about your new company and want to see it succeed. A strong team will attract investors to your startup as well as help you release great products efficiently so you can build the business and position it in such a way that it will be a huge success for everyone involved.