How many people do you know that had a terrific small business or home business idea, but just couldn’t find a way to make it a reality? I, myself, have had hundreds of “brilliant ideas,” and they’ve stayed brilliantly within my head. We all want to be one idea away from a million or more dollars, but if it was so easy to implement all those great ideas, we’d all be filthy rich! In the first part of this series I shared with you suggestions made by Lynn-Ann Gries, Chief Investment Officer of JumpStart Inc., the venture development organization behind IdeaCrossing (https://www.ideacrossing.org), a free online resource that connects entrepreneurs with investors. We first took a look at the main roles you, as an entrepreneur, will need to fill when launching a business and following through with inception. Here are some additional tips that will help you when it comes to building your management team and sourcing top talent. Unfortunately for entrepreneurs engaged in management team building, many top-caliber individuals are already employed. As a general rule you can forget attracting talent through want ads and job boards - your potential candidates simply aren't looking at them. Executive search firms specializing in your industry niche can be a smart route to take, but beware of potentially hefty price tags attached to your new hires. Networking is a tried and true method for finding quality employees -- a process streamlined thanks to the Internet. Online business communities and networking sites such as LinkedIn connect thousands of like-minded business pros every day. The management team building process will go more smoothly if you follow a few hiring tips: - Begin with clearly defined job descriptions, written to further your business plan's goals.
- Seek candidates in step with your ideal corporate culture and values.
- Set crystal-clear boundaries before hiring friends and family.
- Check your ego - smart entrepreneurs often hire their own bosses and every management team building move you make should raise your startup's overall IQ.
Entrepreneurship is about realizing something much greater than you can accomplish alone. Your job is building a management team capable of achieving the vision you've articulated so eloquently in your business plan, making your dreams come true. |