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Business Management

Alexander Egorov (Russia) - Assembling a Startup Team - Mission Impossible? - part 2

Last time I told you how a core team for start-up organized or at least how it should be organized.Today we will talk about your employees.

As I've said, the staff of any enterprise is made up of two layers - the founders and the professionals, which realize your idea but nevertheless do not wish to work for the idea only (unlike the founders).

As a rule, it's not easy for young entrepreneurs to attract such personnel. Good specialists demand an appropriate salary, and status is important too. A big name for the resume can make all the difference.

How can such specialists be recruited? Obviously,with money. You will have to find an investor or break your piggybank. Alas, at the beginning, your employees will make much more than you do, because the amount of money at your disposal will be very limited, and you naturally want to extend the life of the company, saving money as much as you can. And you will pay yourself and your companions as little as possible.
You can attract prospective employees with the promise of a small fraction of the company or as a reward for an annual contract. (However, for this you first need to convince the prospective employee that these stocks ever bring dividends).

For young professionals, rapid career growth can be an attractive prospect. For example, becoming head of sales in a large company will take several years. But in a startup, a person can take this position immediately, and if things go well, the young manager and the department will grow with the company.

Don't chase after professionals with a great resume. Mature companies and start-ups require different types of people, and usually they cannot be found within the same company.

People who are willing to work at a new venture, as a rule, themselves possess entrepreneurial spirit. It is those who have 360° perception who can monitor the situation on the market and in the company, make suggestions and rush to where their hope is most needed.

In a more mature company, these qualities can be a recipe for chaos. In big businesses, the most valued employees are people who are able to work according to plans within narrow terms of reference, leaving areas outside their specialism to other employees.

This is the reason that the founder members are not always able to go all the way from growing companies to finish. Again, you can compare the performance of a startup with marriage. As years go by, your partner will change. And you will also have to change - it should be a collaborative process, otherwise you are doomed to separation.

Exceptions are possible. For example, at Reksoft, about 12% of employees are people who have worked there for more than 10 years. Among them are those who were that the very beginning. But as a rule, these professionals changed many positions and worked in different departments. And they proved themselves to be invaluable in project management for new areas, markets and spin-offs.

Missed the first part? It can be found here, and was published on the 16 of September.

By Alexander Egorov, Co-Founder and CEO of Reksoft

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