When starting a business, the first thing most entrepreneurs try to do is too much. They often feel that the best way to get off the ground and realize a profit in the process is to do as much as possible themselves. In fact, this is one of the most common mistakes entrepreneurs are known to make. The best advice anyone can give you is to remember you can only do so much by yourself and that burnout is just around the corner if you don’t get help. Hire in these five key positions to avoid going under before you’ve even started!
1. Business Development & Marketing
One of the hardest lessons for most entrepreneurs to learn is that no matter how great their products or services, customers don’t come knocking at the door unless they know who you are and what you have. A business development and marketing team is probably going to be one of the most important assets both initially as well as in the long term. This would include someone who understands big data and analytics (because data means nothing unless you know what to do with it!). And, even if you need to invest in a key player’s advanced education, it is well worth the cost.
Have your business development manager study for an MSA degree online (master of science in analytics online) but do have someone with advanced knowledge on big data and analytics. Knowing the market is key to your success and that takes a crack business development and marketing team that is proficient in the collection and analysis of market data.
2. Finance & Accounting
Often business owners fail to understand the key roll his or her accountant plays in the life of the business. Finance and accounting isn’t only about numbers – it’s also about how to be in compliance with tax regulations. Uncle Sam doesn’t like it when he isn’t paid on time or as much as he should be so a finance and accounting professional should always be one of the first people you hire.
3. Manager of Operations
So you have a great idea and you just know your product is going to take the market by storm. You might, indeed, be onto something big but not unless you can manufacture as much as the market calls for. And, who do you think will see to that? You’ve got it – your manager of operations.
4. Computer Technician
It is almost impossible to run a business anymore without using computers in some form or other. Your office staff uses them, you use them and even some of your equipment may be computerized. Without a certified computer technician on staff can you imagine how long you’d be waiting for a certified repairman to be called out to look at the problem if you ran across one? And those computers in your office? Try keeping them up and running without a techie on board!
5. Human Resources
You may not be hiring dozens and dozens of people in the very beginning but it helps to have HR on staff before you need staff! Bring someone in from the ground up so that as your business grows, someone knowledgeable about your business can do the hiring and training necessary to accommodate present and future growth.
You are making an investment in the future of your company and one of the most profitable investments you can make is in key personnel. As you go along you may be paying for advanced training like that MSA program online mentioned above but you need to realize that your company as only as good as the people who make it what it is. Invest in these five key positions and you will be investing in the future and success of your business.