UK Venture Capital - Team Member Selection
Introduction
Most business are no more than the sum of their personnel.
By their very nature Internet startups depend on their people
more than most and in the cut throat atmosphere of today the
right team can be the difference between success and failure.
Investors must have confidence in the people you select and
even if staff are imposed on you as part of a deal its vital
to know the score.
Why?
There is such a vast gulf between a professional team which
works together to generate high levels of output and the average
business team put forward to investors. In the high technology
arena where miracles are expected having a poorly put together
team or an uncertain understanding of the way recruitment
works.
Everyone will be examined and any surplus or problem staff
might be axed at any minute and this can cause enourmous disruption.
Make sure you and your team are sound before you make any
approaches. Understanding the personnel market in the UK helps
a lot, especially if you are forced to get more staff at someone
else's behest. Bad choices can scupper a plan at any stage.
How?
One of the trickiest of the lot and normally solved by a
recruitment consultant. However...here's a reprint of last
month's article...
How will I get staff?
Easy I'll give a few recruitment consultants
a call...
Every single consultant (with only a couple
of exceptions!) is looking for 25% of the 1st years wage bill
up front and for any DECENT technical staff will be billing
out at £50 per hour upwards. Some sites can take thousands
of man hours and you must add to this the 20-25 hours a week
the consultant will waste every week as they will ring and
ring and ring and ring...
TIP! Best avoided, give your competitors
details to them and watch the opposition crumble under an
all out sales offensive.
How do you get stuff done without breaking the
bank or tearing your hair out? Not easy we grant you. Certainly
try to avoid any DIY unless it is writing simple HTML pages
full of content. Do the maths, if it takes several years to
get good at programming so your sites will compete with the
US, and you have exactly 24 seconds to spare a day anyway,
and every bad site you put up will lose you 10 times more
customers than no site at all...?
Perhaps the best way it to try to employ a younger
programmer at first who is keen to make their mark, and needs
exposure from real commercial ventures. There is a wealth
of quality people out there who need a way into Internet ventures
but who dont have the contacts etc. By approaching these people,
usually through an agency, you may be able to get several
hours of work a week for under 50% the cost of a standard
recruitment deal, with NO upfront fees. And they won't be
clocking in and out with their eyes on your cheque book.
Seeking Venture Capital or some other form of small business
loan to develop your UK based project or business opportunity?
There are many UK venture capital and business funding resources
online to help you start or grow your business. You can also
find excellent resources for funding buying and selling businesses,
and search for buyers and sellers online.
If you are looking to sell an on line company, buy an ecommerce
business, or finance internet business expansion,we can help
you get the job done quickly, professionally, and on the best
possible terms. We strongly suggest legal council and assistance
before entering into any agreement for Partnership or Venture
Capital.
Netrepreneur?
Technical Vetting
Market and Niche Research Supply
Cost Reduction Analysis Internet
Branding
Exit Strategy Team
Member Selection
Barriers to Entry
IPR/Legal Entry
Strategy Drafting
Enterprise
Security Management
|
