Your Startup Will Fail Before You Even Launch It!
It's not about the market, the product, or even the people. It's about YOU as a founder! If you don’t pay attention to these critical aspects of your business, your startup is at risk.
1. Human Resources
Your startup’s growth and decline are entirely dependent on the team you work with. Be careful who you bring on board. Investing in talented and passionate candidates can be a game changer. Just remember, any huge ship can sink if you onboard people who are drilling holes. Surround yourself with people driven by the same vision and passion as you.
2. Know the Workflow
As a founder, you need to understand the workflow of every department, regardless of your industry. Knowing the ins and outs ensures no one can mislead you, and you’ll be able to spot inefficiencies.
3. Value Loyalty
It’s essential to have at least one loyal employee who can identify faults, loopholes, and necessary updates—and be brutally honest with you. Loyalty is hard to find, so if you have someone like this, keep them close.
4. Take Chances on Potential, Not Just Experience
A candidate is more than a résumé. As a founder, your job is to see their potential: How can they contribute to your business? What are their strengths, and how can you leverage them? Experience in big brands doesn’t always equate to passion or knowledge. You don’t want employees who waste time during work hours—hire people who care about your company’s growth.
5. Work on the Ground Level
It’s common for founders to remain at the top, but getting to know the ground-level work is invaluable. Understand who’s doing what and how things operate, but don’t confuse this with micromanaging. There’s a fine line between being aware and over-controlling.
6. Pay Your Employees Well
Founders often drain their funds on luxury offices with imported furniture, only to underpay their employees. This is a sure path to failure. Instead, invest in paying your team fairly. They’ll happily work with their own laptops in a basic office if you show you value their efforts.
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3moWhen you open a restaurant, you gotta fill the salt shakers yourself… that’s business.