It’s official to say a competitive team can make the company’s working environment productive and enable it to climb the ladders of success. So it is absolutely essential to give your 100% in whatever you do and the results of it lie on the shoulders of the entire team. Sometimes startups work seamlessly and sometimes they crumble down wasting money, time and the idea.
So, what’s the best way to assure that you’ve gathered up the right team? Here are critically important aspects that will set you apart and help you turn the wheels of success.
Defined Goals
Every individual on a team plays different roles, but the goal for each of them is the same – to win. If everyone is approaching their job role positively and in the right manner; then the chances of winning automatically doubles. This rule applies to individuals, teams and even organizations.
By having a defined vision and communicating the same further helps every individual in the organization to be on the same page of winning. It connects each step of progress by one individual to the progress of the company. So, it is important to define, believe and have the willingness to do what it takes to win.
Attracting the Best Talent
Appropriate placement of individuals in a team will conquer the cadence of a startup business. The role of founders is vital; there should be a clear connection between you and your co-founder to plan how decisions are taken within the business. This right here will be a base structure to a strong foundation for your startup.
The next step would be to discover the positions that require completing your team. Recruitment in the field of sales, marketing, accounts, project management, human resources are just a few examples of positions that can be employed. The most vital building block for a startup is having great people to join their growing company. These are six vital things a potential individual should have – skill fit, passion for work, leadership potential, ability to execute and problem-solve, culture fit and experience.
Employee Loyalty
Smart founders of a business know how to retain efficient employees, it is imperative to have a good compensation and benefits package. This enables employees to give their 100% towards their work and sustain in the workplace with the utmost amount of dedication which most employers require.
Our product manager Chintan Shah perfectly elaborates on a terminology called “Rest & Vest”. He says in order to vest a certain amount of equity you need to rest in the company. Wherein, if they give you 5% of the company stock, you can avail it only if you continue to work in the company for 5 years which is also linked to the ability to give your best performance towards the company. Hence, compensation plays a fundamental role for both partners and employees of a company.
Plan & hire
It is essential to choose individuals who will be an asset to your team and not a liability. For instance, deciding whether to choose full-time employees or contractors in the starting phase of your startup; decisions like these will help you choose the best option to leverage a complete set of services for your business.
Also, this quote gives a better insight from the perspective of a CEO,
“Throughout my career, I’ve learned that, while skills and experience can open the door, getting the job requires demonstrating character, commitment and passion,” says Michael Mahoney, CEO of Boston Scientific. “When I interview people, I ask what they’ve done to solve challenging problems. I’m looking for people who embrace change, and are willing to “own the situation” vs. blame the circumstance. We’re looking for people who are resilient and willing to try new things.”
A successful startup initiates with a good team. To have the best of team players in amalgamation with your vision will make every goal achievable. As a leader, you need to inspire devotedly, unabashedly aim high and remember to celebrate every small milestone.
As Apple’s late iconic founder Steve Jobs truly said,
Great things in business are never done by one person. They are done by a team of people.
Connect with Promact today and build a successful team together.