As a student entrepreneur, you might feel like you need help with your startup. Hiring employees is a huge milestone for any business. As it takes a lot of time and money, it is important to approach this matter carefully. When do you need to hire people for your business? Keep reading to find the answer.
Evaluate Your Current State
Before you begin the process of looking for talent, you need to establish what stage your startup is on. Here are several questions you need to answer.
Do you know the core of the startup?
If the answer is no, then it is too early to recruit people. The core of the business means you know exactly how your startup will generate revenue. First, you need to work on the product, establish its place on the market, and figure out ways to scale up. If you hire people before you have a clear picture of how the business has to develop, you might waste time and money.
Surely, you might feel like you need an extra pair of hands as it is difficult to balance entrepreneurship and college education. But there are better ways to find help. For example, if you are struggling with academic workload, you can get professional assistance. When you think, “I need someone to write my thesis for me so I can focus on my business,” – it is time to go to experts. Dedicated academic writing platforms will assist with any type of college assignment you need to be done.
Experienced authors offer writing, editing, and proofreading help to all students in need. They can polish your work and make sure it is ready for submission date. Or they can do it all from scratch according to your specifications. In any case, you’ll get high-quality and authentic paper with more free time on your hands.
Make sure you know the core of your business before you start looking for talent.
Do you know what experts you need?
The next question is regarding the skill you need in the long run. What professionals will be helpful for the business? Maybe it is a CTO, sales manager, or graphic designer. This depends on the type of startup you are running.
The key factor here is longevity. If you do not need a specific skill for a full-time position, consider outsourcing tasks to freelancers. This is a cost-affordable way to get expertise without recruiting a full-time professional.
When working on the list of specialists you need to hire, make sure you know what they are going to do every day. Do not expect them to come and figure it out on their own. Set goals and measurable deliverables you need.
Is it the best way for a startup to grow?
Every startup is unique, and there is no ultimate way to achieve success. This is the hard part of it. You need to figure out what is the most efficient way for your business to grow.
It can be something like:
- Hiring employees;
- Partnering with other businesses;
- Acquisition of other businesses;
- Earlier market release, etc.
If recruitment is the most efficient of them, it is time to hire people. If not, consider other opportunities first.
Do you have enough resources for that?
A lot of times, startups cannot afford the expertise they need. Instead, they are opting for junior employees. But this is less than ideal. Although you might save some money on it, this will be costly in terms of time, management, and upskilling.
Think carefully about the expertise you need. If your business requires CTO, hiring a junior programmer will not do the trick. Instead, consider working with a part-time consultant or outsourcing outside the country. This way, you’ll save money but access the exact level of expertise you need.
Can you do it on your own?
Overall, there are two types of specialists you might look for – someone to take over your work or someone to do tasks you cannot complete on your own. The first option is recruiting a new you, a person that can free you from some of your responsibilities so that you can do something else.
The second one is looking for a person with a skill set that you lack. For instance, if you need to build a website professionally, it makes sense to attract a web developer. Still, consider where you need this position filled for a long time or a project work.
How to Hire People for a Startup
After you’ve answered the questions above, you should know whether it is time to recruit or not. If the answer is yes, here are some tips on attracting talent for your student business.
Hire From Top To Bottom
This is the most logical way to approach recruiting – start with C-level positions and go down from there. This way, executives can manage further hires for their departments.
Pay Attention to Company Culture
Finding a cultural fit might be time-consuming, but it is essential. Establish the company’s culture as you want it and make sure new employees fit in. This includes the brand’s vision, values, and mission. Also, it covers your expectations from the team.
Network
Networking is incredibly beneficial in terms of recruitment. This way, you can fill positions without posting job offers. Go to industry events, meet people, ask for referrals, and use social media.
Outsource Non-Crucial Roles
Consider alternative collaboration opportunities for tasks that are not crucial for the core of the business. Those could be:
- Project-based collaboration;
- Working with freelancers;
- Hiring specialists part-time;
- Outsourcing, etc.
This way, the work will be done, and you can still focus on college and assignments while saving the company’s budget.
In Summary
Before you decide to hire people for your startup:
- Consider its stage and current objectives;
- Think about what expertise you lack and how much it might cost;
- Evaluate all opportunities and alternatives.
Only after that, you proceed to look for the talent for your business.
