The
three most important aspects for a start up to consider are probably
staffing, business model, and financing are. Bad planning and
implementation in any one of them has the power to sink even the
brightest of concepts.
Sure,
cashflow is king, we all know that, so not much to say other than
plan with plenty of time to spare, double the costs and extend the
time to revenue a fair bit more. Cash hardly ever comes in according
to plan.
Your
business model is the backbone of your business. If it doesn't add
up, you are going nowhere fast.
Even
if you have your financial structure in place with all the required
contingency plans, and a fantastic business model ready for
implementation, the people you sign up will determine the fate of
your enterprise. Sure, we all know that skills and experience are essential aspects, and in general 'acquiring the right CVs' is (usually) a straight forward exercise where success is related to the
financial strength of the startups and the ability of the
entrepreneurs to sell their vision.
However, I suggest that the
main challenge regarding staff is not in the hiring the right
competence, but in building a well balanced and complementary set of
minds.
Consider
this little tale that I heard a while back and adapted over the years:
Sandra, a career advisor is preparing profiles for different
careers. Most of the work involves interviewing people who work in
each sector. Today Sandra will interview workers at a quarry that is a
large local employer. The interview is simple, with the main question
being “what can you tell me about your job?”She will interview
three people picked at random among the most experienced.
The first one, Tommy, says: “well, I am paid to break stones
from nine in the morning to five in the afternoon, and that is what I
do”. Sandra feels that not much else can be said, thanks Tommy, takes
some notes, and heads to her next interviewee, Bob.
Bob Seems quite happy to have a chance to talk about his work “I
am paid to break stones, but I've developed some techniques and tools
that have increased the quality and output of my work, and of many
people around me” he says, proudly before going into detailed
explanations about his innovative methods and systems.
Sandra takes extensive notes and thanks Bob for his time and help.
Next is Barry.
He receives Sandra with a smile that grows when she asks about his
job, his chest expands and he says “Me? I help to build
castles!”...
The point of this tale is that Bob, Tommy and Barry have the same
job, but have totally different perspectives about them. Their CVs
might look exactly the same also, and will give no indication of how
the individuals will relate to their new jobs, or what will be their
perspective when they come in every day.
Interviews might help identify some of these characteristics, but
first entrepreneurs need to know what they are looking for. Yes, you
might need a coder, and a 'Tommy' would provide you with that.
However, a 'Bob' would code as requested, while looking for possible
areas for gaining efficiency or spot issues with the architecture. A
'Barry' on the other hand, while he would also code, he would
probably be assessing the long term impact of decisions and
might keep in mind the end-user's experience and requirements at all
times.
There is no right or wrong. The three have characteristics and
focus that are relevant and useful to a company, but you are unlikely
to find people that will be all three at the same time, so ask
yourself: Which of them does your business need the most now?
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