Starting a business is a big undertaking. Having the right people on your team can make all the difference in the world. In fact, the right team can mean the difference between a successful business and a failure. Now, of course every business has its own, unique set of requirements. But there are certain key types of people that every business will need to get it off the ground and keep it running smoothly.
We’ve put together a list of the five types of people you will definitely need when starting your own business.
You need someone to bring in capital.
No business can get off the ground without capital. Your business will need funds for all sorts of things: to pay for work space, buy equipment, hire a staff, and even to register a company name, which can be easily done at the 1st formations limited website. That’s why one of the first things to look for is someone who can bring in the funds you need.
This could mean a few things. Your money person could be someone who has their own financial resources and wants to use them to back your business. Or, it could be someone with great connections, who can leverage their relationships to get you some great investors. Or, your money person could be someone who has a lot of experience raising capital.
The important thing is to find someone who can bring in the capital you need, so that your business will be able to grow. Capital gives you the freedom to experiment, to innovate, and to expand without fear.
You need people who share your goals.
Every business owner has a unique vision. That’s what makes people start businesses, after all! Business owners have their own way of seeing the world. They tend to have a very strong set of values and clear goals that they want to achieve.
When you pick your team, it is absolutely crucial that you communicate those goals and values to your team mates. And it’s equally important to find people who share those goals and values. Because let’s face it. No matter how much capital your business has, it’s going to fall apart if your team is not on the same page as you are.
You need a leader.
Every business needs a leader. A leader is someone who cares deeply about the business and makes sure that everyone else on the team is working as hard as they can. Leaders really set the tone for the whole organization, which is why they are so crucial to the company.
A leader is also in charge of delegating work and making sure that everyone is working to the best of their ability. In many cases, the leader is the business owner. But not every business owner is a natural leader, so it’s not unusual for business owners to hire someone to lead their team.
You need a great salesperson.
Your business will need a steady flow of income in order to keep going. So, just as you need someone with capital to get you off the ground, you need someone who call sell your product to keep your business up and running.
You may have just one salesperson, or you may have a whole sales team. Whatever the size of your business, you need at least one person on the team who can generate leads, nurture those leads, and close deals. Being able to prospect for new leads is key. And being able to cultivate those leads over time is also key. Very often, business deals are the result of long-lasting relationships. Having a talented salesperson who can nurture relationships makes a huge difference to how your company will do over time.
You need a “utility player.”
You’ve filled the key roles: you’ve got someone to bring in capital; you’ve got a leader; you’ve got a salesperson. Now, you need someone who can fill in the gaps. That means someone to do the accounting, write copy, handle your social media, and maybe even take care of some basic web design. In short, you need a jack of all trades who can contribute to the business in a variety of ways. This is going to look slightly different for each business. So, pay careful attention to what your particular business needs and then look for a utility player who can fill those needs.
