Why team building is more critical for a startup?
Sep 21, 2023
A business is nothing without the people who work behind the scenes. The founder of the startup may have big dreams, but it is ultimately the team, who can realize the founder’s dream.
Hiring the right team is therefore extremely important for any business, and more so for startups, since it is the team that executes the founder’s vision.
It is the team that executes the founder’s ‘well-laid plan.’
Since most startups deal with the challenges of limited resources and time, the team members have to perform multitasking and wear multiple hats, as and when the situation demands.
The team defines the ‘culture’ of your startup and is heavily affected by the values and beliefs of the core team, including the founder.
It is important to assess the cultural fit of the core team members before they are hired.
When a startup scales up and shows remarkable growth, outside investors will show interest in your startup.
It is said that Investors who are interested in any startup just don’t look at the founder and his/her business plan alone but they look for the core team and team dynamics that have the potential to adjust to the changes in the business environment and can give the startup the required edge in the market.
It is the team that determines the fate of a startup, as the best idea stands to fail in the absence of a team with the right capabilities to execute it.
All startups, at some point in time, face unexpected setbacks- in terms of product development and launching, fund issues, cash crunch, or being beaten by the competition – this is the time when your core team will come to your rescue.
A good team will stand by the founder through the testing times and will serve as a solid anchor to keep the organization ship afloat.
As said, “No idea can be greater than the team that executes it.”
The first step towards selecting a team for a startup is to select a co-founder.
There is always a question that comes up in the founder’s mind – should he or she go at it all alone or look for a co-founder?
Although there is no right answer to it. However, bringing in the right person as a co-founder can be significant for a startup’s success.
On the other hand, since many startups are founded by a single person, nowadays investors are more likely to invest in a founding team rather than a solo entrepreneur.
While hiring team members, look for strong team members, who thrive on solving problems and overcoming all kinds of adversities.
They should not be strangers to challenges.
Another important factor you need to bear in mind while hiring new team members is not to get impressed by the title and experience of potential hires, thinking that they would be knowing.
Your startup requirement and their experience may not go hand-in-hand.
A potential hire needs to see the bigger picture of your startup. Such an approach will enable them to understand their role in the organization and will keep them focused and aligned with the startup’s goal.
You might have the next million-dollar idea in your hands, but if you start with a weak team dynamics, it will prove a deal-breaker for your startup.
At this stage, I recall a quote from John Maxwell-
“Teamwork makes a dream work, but a vision becomes a nightmare when the leader has a big dream but a weak team.”
Establishing a successful startup is similar to a long tiring journey. You need to remain on the road.
You may have to stop and rest in between.
You may detour but you have to continue to find the right path on your journey.
Having a supporting team is like having supportive travelers, those who stick with you throughout the journey, until the end.