If you're going to hire, you need to do so effectively -- here's how to do it.
Startup growth rates are funny things. Every business, every entrepreneur, every industry, and every age is going to offer distinct qualities that determine your potential growth, and the inherent volatility of your startup will complicate those factors even further. You might grow in fits and spurts, or suffer a long drought before finally making a breakthrough. But one thing's for sure -- you almost certainly won't see a slow, steady, consistent pattern.
The Dangers of Growing Too Fast
Of course, fast growth isn't the ideal. Growing too fast can exhaust your resources, expose flaws in your processes and plans, and ultimately cause your business to collapse. When your business is scaling quickly, you need to mitigate your financial and human resource risks by hiring effectively. That means hiring the right people, at the right price, at the right pace -- which is a headache, to say the least.
Only Hire Who You Need
First, don't start hiring randomly because you think you need more people. Before placing any job ads or seeking referrals, identify exactly what the position is, and scrutinize it carefully to see if you really "need" it. If you don't, or can't come up with a job description, move on.
But Don't Let Your Staff Get Overwhelmed
At the same time, you don't want your staff to get overwhelmed, or their morale and productivity will suffer. Stay in constant contact with your existing team members and brainstorm with them to figure out what you can do to keep them at a steady, reasonable workload.
Don't Take Just Anybody
It's tempting to hire as quickly as possible, but hiring the wrong person can be destructive. Don't jump in too quickly -- take your time, and only hire the true fits for your organization.
Commit to Training
Don't just throw people into your company and expect them to pick things up. Formalize your training process, and make sure your staff is willing and able to bring new team members up to speed. Don't rush through this process, and don't gloss over it -- make the time to invest in this early on.
Follow these steps, and you'll have a much more effective approach to hiring during your high-growth period. With the right staff in place, you'll be able to manage your growth steadily, and prevent the possibility of collapse.
Bio: Jose Vasquez is a serial entrepreneur and tech enthusiast dedicated to helping startup technology companies get the direction and momentum they need to succeed. As the founder of Build. Brand. Blast., Jose has established a collective resource for tech entrepreneurs to consult when brainstorming, creating, launching, or expanding a new business. Jose is also the founder and CEO of Quez Media Marketing, a marketing firm that combines technology and creativity to help new and growing companies get the results they need.