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Build A Dream Team For Your Startup

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startup team

Building a great start-up team is the biggest challenge for an entrepreneur. No matter how great your idea, its success or failure depends on the team which executes it. It is essential that you choose your team carefully and selectively. The first few members of the team along with the founders are critical in shaping the future of the start-up. This initial team would be instrumental in hiring further co-workers as the business grows. So, how do you build a startup team? Here are some steps to build a dream team for your new venture:

Identify the roles

Founders are the most important members of the team. They have to mutually agree on the decision-making process. So for example, if one is an expert in marketing and other in technology, then the structure of the startup can be determined accordingly. Once that has been settled, the next step is to identify the roles which you need to fill up to complete your team. So whether it is for PR, social media, or SEO, you need to decide mutually and hire the right talent. It is essential to hire the required talent according to your priorities, because there is no point hiring two project managers when there is a need for one programmer. Also keep in mind that you will have to pay them lucrative salaries in order to attract the best talent to the startup ecosystem.

Full timers’ vs Contractors

Hiring a full-time employee is a commitment which you make to pay that person irrespective of the work, whereas contractual employees are paid according to the work done. Contractual employees can be converted as full-timers as and when there is a need. You need to have a vision and hire accordingly. You should have the ability to forecast demand and match the supply.

Identifying the candidates

This is the most challenging step when building an ideal team. While identifying the candidate, one should ensure that the candidate has an experience in the field that other team members do not. It is always beneficial to hire a candidate who has been referred by someone known to you.  Apart from that, the most important factor while hiring is the candidate should be willing to work in a fast paced startup ecosystem and should believe in your start up business.

Hiring process

Once the candidates are identified, the process of hiring begins. The hiring process starts with an interview. It is always beneficial to be prepared in advance when you are about to conduct an interview. Keep your questions ready in categories such as creative thinking, problem-solving, fact checking, and behavioral. Post interview, if you find the candidate eligible, do a background check and then hire the employee.

Post-hire

The process of team building does not end when the candidate is hired, it goes beyond that. A post hire assessment needs to be done with the employee. This includes developing methods for training, path for career development and promotions. All these will serve as an incentive for your employees.

 

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Business

Business Insurance And Why You Need It

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business insurance

Business insurance is a requirement that you should not ignore even if you are in a low-risk workplace. For certain business sectors such as healthcare industries, mechanical workshops or amusement parks, getting a liability insurance is essential. Finding the best insurance can be a challenging and complicated process, but it is better to get an insurance coverage. Disasters happen, and you need an authorized protection to save you from severe economic loss.

Why is business insurance necessary?

If you start a business and employ some people, you need to have business insurance. It is a legal requirement. The insurance coverage varies from one country to another. Almost all countries have made it compulsory for the companies to get a liability insurance. You may think that your business is small and has less risk. You can also think that you can afford the losses your companies might face. The business experts always advise getting a proper insurance for every kind of business. There can be natural disasters like floods or earthquakes. Fire accidents and thefts are not the only risks. Your business can incur massive losses due to disruption of work. There can be cash crunch, skilled labor crisis, road work, police barricades and criminal acts too. You should consider all the aspects before buying an insurance coverage for your company.

General Liability Insurance

Almost all trades have some liabilities. So, a general liability insurance is essential. Before you hire some employees for your business, get a liability insurance first. Your company becomes the ‘employer.’ It becomes a legal need if you wish to make your business a limited company. If any of your staff falls ill or faces any fatal accident during working hours, your company becomes liable. You need to discuss with your insurance broker about the amount of liability insurance cover your business needs. If there is any death because of their work in your company, you need to arrange appropriate compensation. So, you should avoid any expense trimming while buying insurance for the company.

Professional Liability Insurance

It is also known as errors & omissions (E&O) insurance. This is not a one-size-fits-all insurance. Each industry has different concerns while running the business. So, you need customized coverage for your business. The professional liability insurance protects the business from the claims that the company was negligent in performing their services accurately. When you buy the E&O insurance, make sure you appoint an attorney for your company who can defend the lawsuits filed against the company.

Property Insurance

Property Insurance is a must when you run a business. Be it your own building or leased property, you need coverage. This insurance covers your business inventory, equipment, signage, and furniture from any losses due to fire, storm or burglary. Home based businesses still do not get much coverage from property insurance. You need to ask your insurer for extra coverage.

Product insurance

Apart from the above-mentioned insurance policies, you should get an additional product insurance to cover your manufacturing business. It covers any loss due to manufacturing, distributing and retailing hitches.

Buying insurance for your business is complex. You need a trustworthy insurer. Every business needs a unique package based on the requirements of the company. You should always review your insurance policies and keep them in active status.

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Business

How To Be More Productive During A Slow Week

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There’s always something that needs to be done when you’re very busy with work. But what happens when a project is finished and you get a few days before it all starts again? A slowdown in work is normal but it can be boring especially if you’re used to being in the thick of the action at work. During this time you’re probably looking for some things to do just to remain productive. Here are some great ideas to consider if you want to remain productive during a slow week.

Lend A Hand

Other departments or co-workers could be struggling to meet deadlines. Lend a hand to show that you are a team player. Ask if there is anything you can do to help (with your boss’ approval). Aside from staying productive, you could learn something new or get a glimpse of how co-workers or other departments work or function and how it affects your side of the job.

Succession Planning

Have you thought about what happens to your work or teammates should you go up in smoke tomorrow? You should consider this seriously and think about succession planning. You basically take your job description and break it down so that each task is outlined per month. If this document does not exist, create it. It will make your job easier should you leave your job and your boss will thank you for it.

If you have one, update it. It is important to keep your succession plan alive.

Call To Follow-up

When you’re busy, you don’t have a lot of time to spend talking to people on the phone. Now that you have a slow week, it’s time to pick up the phone to catch up with clients, suppliers and stakeholders. Start with small talk because this will gradually become a lengthy discussion when you ask for their thoughts on how things are going. You can also bounce ideas around in order to gain their trust and foster the spirit of teamwork.

Give Yourself An Annual Review

Reflect on your performance this past year and think of ways you can do your job better. Aside from this, you can ask yourself if you’re happy with your career or which direction you want to take it. Thinking about these things can help yourself grow as a person and employee. Bring up these insights during your next evaluation. Supervisors like employees who see the big picture.

Check In With Your Boss

Now that you have time to catch your breath, check in with your boss verbally or through email to update achievements and discuss the next steps. Employees sometimes forget to pass on good news to their superiors or to update on the future direction of projects. Catching your breath during a slow week is a good way to get managers up to speed. Aside from this, checking in with your boss reinforces your capabilities for bigger things in the future.

Slow days at work are rare, which is why doing these kinds of things are important. Focusing on your interests and staying proactive can help advance your career, improve professional knowledge and keep you on top of things.

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Lifestyle

Adventure Assist Travel Journal Is A Must Have For Trips

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adventure assist

A twist to the classic notebook, Adventure Assist is a modern travel journal perfect for the before and afters of your trip. Mapping out your trip and keeping memories the old school way. Jot down the most important details of the trip as you are planning so you are ready once the time comes. Create a list of things to remember or missions to complete. Be ready for the accomplished feeling you get when you physically cross these things off your list. Keep quotes of silly things that happened along the way. Relive doodles of the funny dog you saw or the breathtaking view from the end of your hike.

The notebook was created by two adventure seekers, Jake Pritchard and April Onebane. Both studied abroad and have a passion for traveling with a purpose. Their mission is to “ better connect travelers to their destinations by inspiring authentic and purposeful travel experiences through streamlining planning and organization.” With that mission in mind, the Adventure Assist notebook was created. A heavy duty notebook with strong covers and thick sheets made to withstand the suitcases, backpacks and adventures it will be a part of.

Broken down into seven section, the notebook helps travelers organize and keep track of the basic necessities when traveling. The sections starts with “packing” and moves onto “to-do”, “transportation”, “accommodations”, “calendar”, “contacts” and “journal” with journal being the largest section. Each section is divided as an easily identifiable tab to quickly navigate to the section.

 

Packing

The first tab in Adventure Assist, Packing, tells you to “list adventure gear, regional specific clothing, travel documents and entertainment essentials for your journey.” With four pages to list what you are packing, you definitely won’t miss a thing or over pack. A couple of things we would recommend: S-hooks, ziplock bags, mini-tripod.

adventure assist

To-Do

Next, To-Do, is 10 pages, each page broken down into two sections. Each section is broken down into boxes: destination, attractions, activities, food and drinks. What are some things you want to do, see and eat at the destination? You will have an endless list of things you want to do on your next adventure but writing down the top 10 will help you keep track of the most important. Keep a smaller list for a higher chance of accomplishment while pulling from your bigger list when you run out. Nothing digital will ever replace the satisfying feeling of physically crossing something off of your Do-To list.

adventure assist

Transportation and Accomodations

Where are you staying each night? When time do you have to get there, get out and who do contact if you have a question. Necessary, if not the most important, information of every trip. Now that you know where you are staying, how are you getting there? Getting around in big cities is easy if the language is one you speak and the technology available is similar back home. The difficult but somewhat exciting times when you are visiting somewhere completely different than what you are used to, transportation will not be so easy. You may need to catch a ferry, jitney…donkey?! Keep track of what time departure and arrival is and any additional notes like how many stops until your destination.

Calendar and Contacts

The calendar section provides blank monthly calendar views for you to see your month at a glance. There is a column for notes where you could draw a map key, like emojis, and add the keys to your calendar. Contacts – great for noting who the people from each destination to call in case of emergencies. We have so many contacts in our phones we don’t remember. When a panic situation happens, you have the information you need. In a more likely situation, you lose your phone or it runs out of battery. Now you have the contact information and can borrow someone’s phone.

Journal

This is where you log your memories and experiences. The reason you are traveling in the first place. Write, draw, sketch, whatever you want in this section. Anything that will bring back the best memories from your journey when you discover this notebook on your shelf when you are 80. Instax or Polaroid would be perfect for this section. The two envelopes on each end of the notebook are great for storing tickets, airport stamp tickets, napkins with doodles on them or anything else relatively flat.

We will have our digital photos, videos, social media accounts to look back at. But the feeling from something handwritten or hand drawn is much more powerful and memory provoking than anything digital. Adventure Assist is personal and once you start writing, you won’t want to stop.

 

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