After working in the glossy world of corporate life, a business professional who goes it alone might at first find the change a shock.
Here are a few of the things nobody thinks to mention until you’ve already set up shop.
1. Being an entrepreneur is lonely. Because the company is a startup, there’s no HR division, accounts department or administration team. So it’s just you, the company founder, overseeing all these administrative tasks.
And when you’re out on the road meeting potential clients, nothing gets done because you’re not there to do it.
With several key departments missing from your workforce, outsource some of these tasks. These contractors will need to be fully briefed to work to your specifications. That saps time but, without the manpower to get things accomplished in-house, you have no choice.
If you need someone to brainstorm with, find a business partner or hire your first team member.
2. Talent doesn’t queue up. As passionate as you may be about your enterprise, the person you might try to hire may not be. Top people rarely want to join a company they don’t know for less pay, fewer benefits – and less certainty.
You need to market yourself and your brand. Share your vision and woo potential employees so that they will see the positives of a startup: more responsibility, the opportunity to learn new skills and possibly an equity share.
Once you have an employee on board, keep that person.
It’s crucial for the team to bond, otherwise discontented employees will quit.
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