One of the most important parts of a startup is the team. The employees who have been there since the beginning need to be growing alongside the company. In order to reach new heights, experience more growth, and expand the company, the startup team needs to evolve together.
Here are three ways to help a startup team grow together.
1. Common Vision
Perhaps the simplest of the tips to help the team is to be upfront and honest about the desired vision and path for the company. Almost half of employees surveyed divulged that they were unclear of the company’s vision. Even if the goal is to turn the startup into a large corporation, being upfront with interviewees and employees will only serve to help. Understanding the goals and trajectory will help find employees with similar aspirations and help others prepare for future change.
Often overlooked is that small companies need to be providing feedback for employees. Many startup employees are just beginning their careers, and positive and corrective feedback will help them develop professionally. Communicating with employees, regular performance reviews and other forms of feedback highlight ways in which they can improve. All of this leads to improved company performance and growth.
Providing further training for employees is another way to keep the team growing. If the goal is to hone their core skills or to learn new ones for future use with a promotion, there are internal and external options. Within the company, facilitating networking and the formation of mentorships will serve to assist employees in improving themselves. Outside of the company, there are training programs that serve to help in various ways.
4. Always be Hiring
The economy is growing and unemployment in low. Finding talent is this competitive job marketplace is challenging for any startup with a limited budget and high failure risks. Co-Founders should always be recruiting even if they are not currently hiring. Use networking events and reconnect with your personal network to keep an updated list of potential hires when the time comes. Define an employee stock plan to compensate for the limited budget in order to attract and retain the talent.
Small business growth is a top priority for startups! Here at MarketFit, we have a team of entrepreneurs and mentors ready to assist. We run accelerator programs for startups and will develop tailor-made business growth plans. These programs do not take place in classrooms like other accelerators and adapt to help a company run and grow while underway. Contact us today to start a new chapter for your startup. https://marketfit.wpengine.com