September 21, 2018 | ° F

How to Get By in Business: Don’t Do It Alone


How to Get By in Business: Don’t Do It Alone

Written By: Miriam Metzinger | Editor and Regular Contributor for Financial Site “Seeking Alpha”

My friend and I want to co-found a business. He’s interested in selling things, and he gives us the marketing and sales kind of expertise that we need (or, at least, he will when his education is complete!). As for me, I’m the one that is handling the core business: I know how to do the main stuff we’ll need to do for our service/product (sorry, but the business idea itself is still a secret!).

My question is: who else do we need? What are the most important skills to have in a startup staff? We need someone who can raise money, I guess, but I don’t know what else.

Your question is a good one, and one that a lot of startup founders ask themselves.

There’s no one magic formula for new business hiring, but experts recommend peppering veterans with experience in the field in among multi-talented staffers who wear a lot of “hats” and excel in communication. If that seems a bit thin on specifics, then try this: you need a “hacker,” a “hustler,” and a designer. In plain English, that might mean an innovative idea person, a person who can raise money and hype, and a person to put it all together.

But, again, that’s light on job titles and specifics. Perhaps the reason for that is another important thing that you should remember: when it comes to business, no company does it alone.

You will likely find it helpful to have a gifted fundraiser on staff who can bring in new investors. But you could also rely on loans, like private money loans offered by Val-Chris Investments.

You will also be tempted to have someone on staff for every possible task your business might need to handle. But that’s not necessary, either. Business isn’t always about going it alone, and choosing to outsource key tasks is a big part of keeping a fledgling business afloat. Smart outsourcing can save you money by preventing you from having to hire employees and whole departments that you don’t need on hand at every hour of the day. And outsourced solutions can also give you key perspectives from experts who have enough distance from your company to see it clearly. It’s tempting to want to do everything yourself, but if you cover the essentials with expert staff and stick to the core business that your dream is focused on, you may find that it’s best to rely on outsourcing for much of the rest of your business’ needs.

“Alone we can do so little; together we can do so much.” -- Helen Keller


Scholarship Media

Comments powered by Disqus

Please note All comments are eligible for publication in The Daily Targum.