Good job. Your business is now expanding, and you need to hire more employees. This post is for business owners who want to expand their team. In this article, we’ll talk about the key positions in a startup company.
The employees you hire will depend on what your business needs to carry out daily activities as quickly as possible. However, there are certain key positions that you should hire as soon as you can.
Note: As a founder or business owner, you can also take on this position.
However, you will have to be involved in the day to day activities. If you can’t do that, you will have to hire a Chief Operations Officer.
The CEO is the guy in charge. He/she is the one that runs the company on your behalf. A CEO drives the direction, vision, and culture.
The COO is the guy in charge of the day-to-day activities that keep your business up and running.
Although most big companies hire externally for these positions, most of them started as the CEO before hiring out. If it’s a partnership business, you should be either CEO or COO and leave the other for your partner.
No matter how good your products or services are, they’re useless if you can’t sell them. Unless you run a small shop where you can sell yourself, you should consider hiring a chief marketing officer.
A good CMO will introduce your business to your target customers and build your first and strong customer base. As your company grows bigger and you hire new marketers, this guy will be the head of your marketing department.
He/she will also handle the interaction between your company and your customers. Your chief marketing officer can also do the job of an interim community manager.
This will nurture positive relationships between your business and consumers.
Tip: New businesses are usually advised to outsource their accounting and finance roles to a third-party firm.
However, some business owners prefer hiring an in-house professional. If you’re financially capable to hire a CFO, you should do so. A chief financial officer is one of the most key positions in a startup company.
While the CEO is busy looking for investors and the CMO is finding your buyers, the CFO is the guy paying suppliers and managing your business revenue.
In the case of brand expansion, your CFO is the employee in charge of obtaining bank loans and renting company buildings.
Short note: This is probably the hardest employee to find. Not everyone with a CV can run this well. It may take some time and effort to find the right hire.
The sales manager is tasked with generating new leads and bringing in money for your business. That’s why we call him the vice president of sales.
A sales manager is one of the most crucial and key positions in a startup company. This is because sales will be the goal of your company, assuming it’s a football match. Smiles.
If a startup company fails to make good sales while spending money every day, the startup and working capital will be exhausted sooner than they should.
Note: You really need this guy if your business is a B2B enterprise. A business-2-business enterprise is a type of company whose main customers are other businesses.
Businesses that provide digital marketing, web hosting, office furnishings and other services to other businesses are all B2B.
A business developer is one of the key positions in a startup company. He/she builds relationships with other businesses. The aim is to increase revenue and potential for growth.
A good business developer will look for and detect new business opportunities.
If one of your competitors is offering a product or service that your business is not, this employee will come up with a way to launch it and even make it better than your competitor’s.
To do this, your business manager will consider and expand into new markets, new partnerships and better ways to reach other existing markets.
Note: This employee should be the 3rd person you hire if you own a Fintech startup.
A chief technology officer (also known as a chief technical officer) is another key position in a startup business. The CTO works closely with the CEO and COO to use technology to grow your business.
A CTO controls the use of technologies in your daily operations and also builds your online presence (alongside the CMO). He/she will make sure that your technology products and services are used efficiently while saving costs.
An expert with a BSc in Computer Science, Engineering or a related field should fit in this role.
A customer service representative is an employee that supports customers on your behalf. This is done by providing helpful info, answering questions and giving responses to complaints.
A customer service representative is a very crucial and key position in a startup company. Once you have filled the first six positions (or improvised alternatives), this player is the next to bring into your team.
It doesn’t matter how good your products or services are if your business doesn’t communicate well with buyers. If you fail to hire a polite and professional customer service rep, your brand reputation will suffer its absence.
Although you may need other people, these seven guys are more than capable to handle diverse roles until your business expands further.
If you have the money but fail to hire these roles, your business will have poor direction and weak leadership. And don’t forget that 65% of companies fail due to management issues.
After reading this post, you should consider checking one of our popular posts on how to hire employees effectively for your business.
We wish you success in all endeavours. See you at the top!