Start-up Human Resources — Winter 2021

Explain Team and team building in brief.

Elaborate upon importance of a team in a Startup along with the functional skills required

Elaborate upon creating culture of team motivation, supporting colleagues, meeting deadlines, work life balance in your words with suitable examples.

How to build collaborative teams? Q-4 Case Study: How to Build a Team That Won’t Sink Your Startup Many successful entrepreneurs won’t admit this secret. But I’ll let you in on it. There is no such thing as a solo entrepreneur. Nobody who’s ever scaled a business from the ground up did it alone. In fact, left to themselves, they wouldn’t have a business. Irecently read a book about legendary businessman and investor Warren Buffett. Buffett spent years trying to convince his longtime friend, Charlie Munger, to be his business partner. He never went looking elsewhere. He never settled for anybody else. He knew Charlie was the man, and he did everything to get him on board. Reading this story just solidified what Ialready knew. Page 1 of The people you choose to work with have the ability to make or break your business. It is imperative that you are selective and strategic about your team. If you’re just starting a business, this is likely something that you’ve thought about. “How do Ichoose the right team members for my startup?” 1. Start with you 2. Hire action-takers who can get the job done 3. Don’t build a team for a startup 4. Hire people who understand the importance of customer service 5. Personalities matter 6. Be a ringmaster 7. Consider investing in a recruiter 8. Avoid homogeneity in your team 9. Get your team members to buy into your vision 10. Take some lessons from the sports industry 11. Stay true to the “hire slow, fire fast” mantra Conclusion: The verdict is clear. The right people can set your business up for massive success. By the same token, the wrong people can drive your business into the ground. Luckily, there are many ways to ensure that the latter doesn’t happen. Take the strategies discussed in this article and apply them to your team-building process. Iassure you, the quality of the team that you bring together will have an instrumental impact on your business. Questions:

Discuss the case in either favour all the points or give your opinion on Why team is important?

Explain any 7 strategies to select the right team for Startup Human Resources.

Discuss the Case in the context of various Government Schemes for Startups which includes Startup Human Resources grant.

Explain any 7 strategies to select the right team for Startup Human Resources. Page 2 of