Whether to hire a startup generally funnels down to uncertainty. You may love the product or service a startup provides and admire its founder. Yet when it comes to pulling the trigger, trusting a company with a minimally established reputation gives you pause. The benefits of hiring a talented startup, however, greatly outweigh the concerns.
Entrepreneurs are among the most passionate people on earth, relying on their own talents and personal funding to bring an idea to life. It takes grit, backbone and confidence to pull this off along with the determination to compete with more established businesses. Think of the dedication it takes to work long hours but not generate revenue while simultaneously developing a customer base and seeking investment capital to gain entry. Only those who truly believe in themselves and what they offer can justify calling themselves an entrepreneur!
Established businesses are constantly trying to adopt a ‘startup mindset’ to gain a competitive advantage. Everyone wants to make decisions faster and scale quickly. The objective of the casual work environment trend is to foster camaraderie amongst employees even though at the end of the day, new ideas are still confined by the corporate structure. It is nearly impossible to empower fast decisions within a corporation due to rigorous evaluation processes and hierarchies. To scale quickly, obstacles need to be cleared, and this is often difficult for large corporations.
Startups are focused on growth. It makes sense that if you want to grow your business, it’s a smart move to surround yourself with those who share this mindset, this way of thinking that is not defined by boundaries. A startup relies on ingenuity and innovation to spark a solution to a problem. Since it is not yet operating at scale, a startup offers the opportunity to shape its product and processes around a customer’s needs. A startup is inherently focused on creating value, not resting on its reputation.
Evaluating whether to put your trust in a startup is not an easy task. By asking thorough questions and doing your own research, compile the information necessary to focus your evaluation on three main areas, namely, the founders, the team, and the business model. Moving forward, look for certain key attributes to inform your decision. Here is an overview of some ideas to help guide you.
Determine whether the founders are truly passionate and have skin in the game. Is their story compelling? If you get the sense that you’re speaking with someone who can make something out of nothing, this is a great sign. Further, look for a founder who is engaged in the process and understands their customer’s actual needs, not only what they perceive them to be.
Ask about the entire team. Are there other principals involved? Have the members of the team been chosen because they complement each other in a way that facilitates executing their idea? Founders who have built a solid team around them while being engaged in the process are the ones to work with. Let your intuition guide you in knowing that you’re engaging someone who listens carefully to criticism and incorporates insights from others with a different skill set.
Find out more about the business model. Determine whether the company has moved beyond proof of concept by asking for recommendations from existing customers. Ascertain whether there are differentiators in place that enable the company to stand out amongst the competition. A promising startup will have a keen awareness about its competition. The founder you want to work with will articulate an understanding of the nuances of your business and how partnering with their company will benefit you.
How we can help
QualIT One’s team of specialists is comprised of professionals with extensive real estate backgrounds, enabling us to gather pertinent information from you about your company’s needs. We detect what solutions will streamline the everyday processes of any real estate company.
Working directly with our principals, we can readily tailor a solution to your specific needs. We are constantly making improvements to our products based on customer feedback and industry trends. We offer tremendous value to your company by offering highly competitive pricing to you for getting in on the ground floor.
We use highly experienced managers who specialize in what we do to deliver faster results. Although a larger IT software or service provider may have many employees, only one or two of them may be devoted to your account and are most likely at the associate level. Our team is flexible, agile, and always available.
For more information, to schedule a complimentary demo of CRES, our proprietary software solution for real estate, or to inquire about managed IT services, contact us.
About Robyn Russo
QualIT One, Business Development
Robyn is a pragmatic, solutions-driven business development specialist with a professional history in commercial real estate development, leasing and acquisitions. Her clientele includes CRE tech startups on their way to becoming powerful industry forces.