The KKV Disruptive Entrepreneur Series Episode 37 - ‘Building Your Business’ Part 14: Recruiting your first team
The Kipling and Kirby Ventures Disruptive Entrepreneur Series Episode #37 ‘Building Your Business’ Part 14 : Recruiting your first team
Part fourteen of the Kipling and Kirby Ventures weekly 'Building Your Business Series' where Simon and Al discuss 'Recruiting your first team'
Recruiting your first team
This is where things get serious, you are ready to hire a team, what do you do first?
We have mentioned this before on previous BYB shows, don’t hire your friends, unless they are perfect for what you need. Based upon your business plan, you will have an idea on what skills and positions you plan to fill, use your network to fill these positions and execute on your plan.
Should I hire management, directors, or staff?
Think about execution, and what you need to get your product or service released to market. Sometimes it’s better to have ‘people on the ground’ , having too many leaders in the group can often negatively impact productivity. Complex management structure can come later, focus on execution.
Should I hire full time or temporary staff?
Cost can be an issue in hiring full time staff, again the temptation is to hire plenty of staff full time so you can execute more quickly. You don’t have to. You can often find people who are very good, but who are willing to work with you part time, their experience is invaluable and can push your company forward. Weigh the options, mix your staff with younger, more energetic staff and more experience to make a good balance.
Should I be paying large competitive salaries?
If you can avoid it no, being frugal with wages is important, as this will likely be one of your larger costs. By having a mix of full and part time, experience and youth, you should not only have a great working culture
Money is tight, how can I find the right people to drive my business forward?
Be smart how you hire, use your network to find the right people, incentivise people by using bonuses and share options, it’s not always money.
How do I keep my team happy?
Money doesn’t necessarily mean everyone is happy, have team building, build a great culture, ensure you have a happy workplace where people are productive, and are able to be in an environment where happy productivity ensures you reach your product and financial targets with ease.
Simon: Final thought: “The