Things to Consider When Expanding Your Team as a Startup

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Expanding your team as a startup or small business is not an easy job. According to a recent CB Insights study, 23% of startups fail because they do not have the ideal team to run a business. If growth is your business’s objective, it is vital that you choose the right people for it. A startup should be aware of the critical areas of their business. For a startup’s growth, the strategy, finance, human resource, product/brand design and development, research and development, and operations are essential.

Build a strong team

Growth is possible only if you have a good team to back you up. Hiring people that can help bring creativity and ideas to the table is always a good idea. Hiring people who also get the job done and are willing to be flexible in their role is essential for the early stages of growth of your business.

If you are considering fast paced growth within the business and team then it is worth considering hiring someone senior with experience to help like a Finance or Operations Director. They can help then support you with business decisions and plans.

Retention is then also key. It is all well and good expanding your team and getting the best people but useless if you then can’t keep hold of them. Help build a company culture from the early days. Show that you care and offer perks. These don’t necessarily have to be monetary; it could be flexibility with working hours or location for example.

Focus on your business functions

When expanding your team, your strategists should always determine whether that particular time is ideal for you to grow.  Performing a SWOT analysis (strengths, weaknesses, opportunities, and threats) will allow you to understand your ideas better. Moreover, financing is integral to the growth of your business. Since your business is relatively small in size, you might need loans. On top of that, finance is important for forecasting and budgeting purposes too. When hiring people, you need to make sure that they possess sufficient knowledge regarding business.

Most people tend to ignore the area of research and development when expanding their startups. Your startups and small business will only grow if you work on your ideas well.

Think of your future roles

Expanding your business might be a good idea, but you need to see whether it is even in line with your business objective. There is no point in growth if your strategy fails to help you reach your ultimate goal. For this purpose, you need to know what your organisation chart must look like in the future. Thinking long-term is, therefore, the key. Always check whether your decisions blend well with the structure of the organisation as well as the relative ranks of its departments.

Is it best to hire or outsource?

You need to consider whether hiring employees of your own would benefit your business’s growth or outsourcing would be a better idea.

If you are finding you have too much work but not sure if you are in a position to hire then companies such as ADAVIRTUAL Business Support could be an option. By offering hourly rates as well as monthly retainer packages businesses can utilise the expertise and time of the team with the flexibility of increasing or decreasing the workload as business needs demand.

In most cases, small businesses or startups prefer to outsource during growth because they tend to avoid issues like sick pays, workplace pensions, holidays, etc.

However, it is for you to choose what option is the least costly for your business.

Ada ObiThings to Consider When Expanding Your Team as a Startup
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Tips on Conducting a Job Interview

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Conducting a job interview can be a tricky process for a business, especially when you want to expand. Hiring the right people is a must for your business’s success.

Remember that your candidates are assessing your office’s professional environment as much as you’re deciding whether hiring them is an option or not. Potential candidates, therefore, will also determine whether working for you is the best option for them or not during an interview. In this article, we will provide you with a few practical tips regarding conducting a job interview so that your interview processes run as smoothly as they possibly can!

Preparation

If you think getting a date in the diary for the interview and a piece of paper with 2 or 3 questions will get you through the hiring process, you’re wrong. Organise yourself before getting started. You should have a list of key questions for your candidates, which you can also expand more during the interview process. What does your ideal candidate look like? Not just in terms of qualifications but also as a fit for your business and the existing team. Moreover, make sure you have all the CV’s and cover letters with you to refer back to.

Interview Location

It is imperative to have a professional environment when conducting interviews. Make sure you carry it out in a quiet place that is free of distractions. This will also help you in the decision making process as your head will be clear, and you’ll be more focused.

Overview

When conducting interviews, most candidates do not know exactly what the business expects from them. So, ensure that you provide the candidates with an overview of your business, the team, their role in the company, and what an ideal candidate looks like to you. The candidates will then become clear about the interview process and what will be expected from them should they be successful in getting the role.

Designing questions

You need to think carefully about the questions you ask. Asking questions that will give you one-word answers will not get you anywhere. Even hiring your ideal candidates out of such interviews may not get you the best candidates. The key is to ask open-ended questions. It will make candidates talk more about themselves and enable you to explore their personality in more detail. At the same time, you will understand their thought process and know where they stand in terms of their capability. Also remember that interviews are not just about you asking the candidates questions. Allow the candidates to pose their own questions to you too. At the same time, make sure you fully address all the queries they have, either during the interview or at a specified later date if it needs exploring further.

Follow up

Candidates perceive your business as professional if you inform them about the upcoming steps (for instance, a second interview) as well as when you will be making hiring decisions. Therefore, make sure that you have assigned proper dates for decisions to be made. If you continue to lag and keep your candidates uninformed, they become less interested in joining you and an ideal candidate may slip through your fingers.

Conclusion

Prepare yourself! Book a quiet room away from distractions for the interview. Prepare open-ended questions that bring out your candidates personality as well as discusses their skills for the role. Then, make sure you act timely! Your ideal candidate may be someone else’s too and if you delay too long they may find an opportunity elsewhere.

 

Ada ObiTips on Conducting a Job Interview
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