Hiring the Right Team
New entrepreneurs have the task before them to hire the right team to launch a successful venture and then to keep the venture a success. When choosing a team, how does one begin? What are the basics?
Eric Herrenkohl, in his book, How to Hire A-Players: Finding the Top People for Your Team- Even If You Don’t Have a Recruiting Department, discusses the need to hire a quality team that he calls “A-Players.” Recruiting the right team to build your business is essential. In order to be able to build the team needed, entrepreneurs must trust their team with a certain amount of control, which means that giving up some control will be necessary (Herrenkohl, 2010). My first blog, Control vs. Wealth, covered the need to make decisions regarding this issue. Some entrepreneurs have a hard time giving up control. Giving up control and trusting your team will be an easy task if you hire “A-Players” to begin with. Taking the time to interview numerous people for positions will allow you to choose the correct person (Herrenkohl, 2010). If you get into a hurry in the beginning stages of your new venture, you could hire the wrong people which will not be beneficial to your business. Founders must take the time to interview and select the very best. Do not settle for just anyone, keep looking until you find the perfect fit. Your business depends on it!
Homogeneity: One Consideration
Hiring a Team with Homogeneity. Homogeneity is “the quality or state of being all the same or all of the same kind” (google.com). Taking this point into consideration, one can see how new entrepreneurs could view this as a positive element for their team. However, there are benefits and there are risks according to Noam Wasserman’s book, The Founder’s Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup. Wasserman (2012) mentions the following benefits and risks:
Benefits of Homogeneity Include:
Easier communication, easier decision making, similar tolerance for risk, mutual appreciation, and alignment of thinking are all considered benefits (Wasserman, 2012).
Risks of Homogeneity Include:
Skills may be missing due to similar overlaps within the team, diversity may be limited, and you may not having the proper counterbalance… all are risks to be considered (Wasserman, 2012).
Much to Think About
Starting a new business is so exciting and multifaceted. Taking the time to recruit the best team members to help launch and keep your business successful takes targeted time and effort. Considering candidates that have the best qualifications, as well as, characteristics is imperative. Knowing that the stakes are high, doing your research, and delegating enough time is essential in developing the best team possible. May you have every success in developing your team. Go Team!
An interesting 60 second video on building your team. More to consider!
“Elon Musk’s 60-Second Guide to Hiring the Right People.” YouTube, YouTube, 1 Sept. 2017, www.youtube.com/watch?v=wbJaEM-yDtw.
Herrenkohl, Eric. How to Hire A-Players: Finding the Top People for Your Team- Even If You Don’t Have a Recruiting Department. John Wiley & Sons, 2010.
Wasserman, N. (2012). The Founder’s Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup. Princeton, NJ: Princeton University Press.