Travails of team building: Learning from startups
Behind every idea, there may not necessarily be a team; but behind executing that idea, there always is one. This cover story takes into account the travails of assembling and enabling a winning team in startups
It’s a professional journey. And it’s a personal journey.
Starting up a venture takes more than just an idea or capital – it takes your passion, skills, vision and dreams and definitely teamwork.But it is also like hitting the bullseye. You either hit it or you don’t. And in this game, one’s success depends on a number of factors – assessing the target, reviewing what you need, skill, vision and finally luck.
So what essentially makes a successful startup? A successful startup is an organization that has a vision, built from very limited resources; a very able team created with patience, by scouting talent from unconventional sources, being frugal yet innovative in its approach; an organization driven by like-minded individuals who may not necessarily be superstars individually, but complement each other’s abilities to create a superstar team; an organization that has had to travail to build a winning team, but that tread has reap...
Since startups are expected to create a Minimum Viable Product, and then learn and pivot, it also means that the roles of people and scope of work will also change
The cost of a bad hire for a startup is calculated in terms of how much that delayed the product launch, and it is much more severe than the losses incurred in terms of money spent on recruiting, onboarding and compensation
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