- About us
- How to start business
- What are key performance indicators of Business?
- Key things to consider for expansion Globally?
- Key problems in Manufacturing Industry
- Problems of Startups
- What is Business Plan?
- Case Study
- Pricing Details
Importance of team for scalability of startup
Many of the startups fail to scale up, as the founder is unable to find team or people who believe in his vision. This leads to founder employing people and training them hence the founder’s major work becomes to train the people and completely forgets what he needs to do to grow business.
As the day-to-day work ensures his full attention he becomes a trainer rather than founder or person who is suppose to build team. One thing the founder usually does mistake is paying less so remember when you through peanuts you get monkeys and by the time you train monkeys your time and effort will consume the same amount of money.
Remember for any successful heist it has to be a team of people individual cannot pull it out so hiring people who are good in there roles should be the preference of a founder rather than training them.
Its always better to have people at higher salary with experience when you know there is no room for error or time for R&D , so its better to have person who can delivery rather than trying to make horse out of mule.
Then next question is I don’t have so much of funds to take care of people who can deliver as there salary i cannot afford, so here is where the founder needs to play his cards by providing equities and still paying them what he can afford to pay.
So the founder should be in a position to build in the faith among the team to sacrifice some financials for larger gains at a later date when funding happens giving them the responsibility which they didn’t get in the previous jobs they were working.
So founder has to ensure the team is motivated and brought on common platform as every company can go long way only if it has team and take care of critical components which are essential for keeping the company.