In the early stages of a startup, the team is the most important asset. It is the driving force behind the startup's success.
For start, the level of uncertainties in a business is high, and it requires a team that is capable of adapting to changes and finding solutions to problems. Can you do it alone? Definitely not.
But why is it important to have a strong and strategic team?
A strong team can help your startup by providing different perspectives and ideas. But it doesn’t stop here. Your first team is important because it can also offer support and help you build a positive company culture.
When building a team, it is vital to look for people with different skill sets that can complement each other. At binnno we are strong believers in cross-functional teams, which is why we assembled strategic help for founders out there, by looking to expand your small core team with global experts that can make a difference in your journey.
This can help you, as a founder in multiple ways, such as creating a diverse product or service offering, better decision-making, and a more comprehensive understanding of the market.
Think of it like you will find a fractional CEO, CRO, or other executive help in the early stage without taking in on a high budget to build your strategic team.
How to build a strong and strategic team in an early-stage startup using binnno?
The first step to building your first strong strategic team is to define your startup values, vision, roles, and responsibilities. This will help attract like-minded individuals who share the same goals. It is also essential to look for individuals who are passionate about your startup industry and willing to put in the effort to achieve your startup’s mission with you.
Offering competitive compensation packages to attract and retain top talent is not an easy task in a startup so what other option do you have?
Consider offering equity in your startup to help incentivize your team to work hard and contribute to the success of the company.
Offer flexible working arrangements such as remote work options (that we provide through our virtual hub tools) and flexible hours (meet your team only at their virtual office hours).
Focus on meaningful work. Many of our consultants are attracted to startups because they offer the opportunity to work on meaningful projects that can make a difference in the world. Highlight the impact that your startup is making and how they can contribute to that impact during your initial meeting.
Another important factor to consider when building a team is diversity. A diverse team can bring different perspectives and ideas, which can help the company grow and succeed. It is important to consider diversity not only in terms of gender, ethnicity, and race but also in terms of skills, experience, and background.
This can be achieved by setting clear expectations from the first meeting, providing regular feedback, and ensuring that each team member understands their role and responsibilities within your startup.
Despite facing numerous challenges as a founder, I am sure you will be able to overcome them by working together and supporting each other in a collaborative environment.Â
That is why we provide founders with a virtual hub where working together, communicating and building is made easy no matter where you are.Â
