How To Set-up a Team For Your New Start-up Idea?
A study by Harvard Business Review found that a start-up team with high levels of previous experience but average to low levels of passion and collective vision demonstrated weak team performance when it came to innovation in products and services, customer satisfaction, cost control, and expected sales growth while on the contrary, the teams that reported average levels of previous experience but high levels of passion and collective vision demonstrated significantly stronger performance. Let's have a look on how to set-up a winning start-up team for your novel business idea.
Focus on roles
Define what your business is and the kind of people you need to run it. Is it a product or a service? Start with going through all the C-level executive roles if you aren't sure which ones are required for your company. Chief Technology Officer, Chief Finance Officer, Chief Legal Officer, Chief Marketing Officer, and Public Relations Officer are some roles you should consider hiring for your company. Hiring the initial team can help you decide which roles you would need to hire for under them like Accounts team, graphics designer, etc.
Develop Job Descriptions
Next step, develop Job descriptions for each of the roles you have listed above. A detailed job description enlisting at least the company description, the work to be done by the employee and remuneration shall cover the basics.
Advertise hiring for the roles in mediums most visited by your target group. For example, if you are hiring freelance graphic designers, platforms like Upwork will make the most sense. For finding co-founders you may want to consider sharing the JD on LinkedIn or a co-founder dedicated website.
Read our article on How to find a co-founder for more.
Myers Briggs Test
This is an optional thing but, you can try it nevertheless. Psychometric testing can help you decide if the person will match the culture of the company you are trying to build.
This cannot be stressed enough. Conduct a due diligence check before hiring a partner. A simple google search can tell you if there's something fishy about the person you are about to start a partnership with. Try these searches:
"Person’s name” + lawsuit
“Person’s name” + arrested
“Person’s name” + accused
“Person’s name” + judgment
“Person’s name” + settlement
As a final note, also read our article on "How to keep your business partners motivated?".