Employees: Why Your Team is Your Greatest Asset in a Startup
Your employees are literally walking human assets for your startup when you look at the big picture. Learn how to cater to your team and get the most out of their hard work.
If you’re in the beginning steps of getting your startup off of the ground, you may be strapped for cash. Not only can startups be overwhelming, but with so many aspects that are seemingly equally as important, it can be hard to decide where your money should go.
You may feel tempted to lower your employee salary or hire fewer employees in order to save money. However, this may not be the best plan.
Human assets are the most important part of your startup. The best employees follow companies with good salaries, benefits, and company culture. This means that you’ll need to invest a nice chunk of money to get the best employees for your startup.
Keep reading to discover why your team is your greatest asset in a startup.
They Can Provide Positive Word-of-Mouth
Positive word-of-mouth may not seem like a big deal, but it can make a huge impact on a budding start-up. Word-of-mouth marketing is an excellent way to get your company’s name out there without it costing you a dime.
Studies show that people are more likely to trust a company they heard about through word-of-mouth marketing rather than through traditional marketing. People are also more likely to buy more products and stick with your brand when being referring through word-of-mouth.
So, how can you initiate successful word-of-mouth marketing? Well, one of the best ways to do this is to hire a great team and keep them happy. People who like their jobs will be more likely to talk about them and frame the products and services in a positive light.
They Have Good Communication Skills
Have you ever tried to call a company for a simple question and got stuck in a never-ending phone tree? Nothing is more frustrating than just wanting to talk to a human but constantly being transferred to machines.
Your employees bring a personal touch to your startup. Finding employees with good communication and customer service skills is vital to making your business run smoothly.
Your customers will feel relieved when they have a real human answer their questions and help solve their problems.
They Are the Face of the Company
When thinking about why human capital is important, just think about the image you want your startup to portray. When you utilize the best employees to create great customer service, they’ll become the face of the company. When the front line of your startup is excellent, it reflects very well on your overall company.
Have you ever dealt with frustrating customer service or in-store employees? Remember how that altered your opinion on the company? You may have been less likely to shop there again or refer them to a friend.
To ensure that your customers stay happy (and maybe even tell their friends about you), you should be sure to invest in the best employees. Viewing employees as assets will motivate you to treat them well, so they are motivated to continue to work hard and please your customers.
They Can Successfully Manage Social Media
Social media marketing has become an important part of any online marketing campaign. It’s a great way to communicate directly with your customers and engage with them in a fun and effective way. It can be extremely useful to utilize in a startup as it’s very affordable as well.
While managing a social media account may not seem like a time-consuming job, it does take a lot of effort to keep it afloat and to keep posting great content.
While you may be able to automate many aspects of your startup, social media relies on human assets. If you want to create effective social media sites, you’ll need to hire the best of the best to focus on building your online presence.
They Can Bring Unique Ideas to the Table
If you’re still wondering about human capital importance, just think about all the decisions you’ve had to make this far. How many times were you torn between two different ideas or didn’t know how to solve a problem?
When you view employees as assets, you can utilize the most human part about them: their creativity and ideas. It’s important to admit that there’s always room to grow as a leader. Having quality employees who can add unique ideas into the mix can be really helpful.
Everyone has their own different viewpoints and problem-solving strategies. When you’re first starting out and money is tight, it’s more important than ever to have as many options presented to you as possible before making a decision.
They Can Help Identify Problem Areas
When you’re startup is up and running, you’ll probably run into some problems. Every startup has it’s own hiccups and snags that need to be smoothed out as soon as possible.
Your employees will be there on the front line. They’ll likely be the ones dealing with any problems that your company is facing. This means that they can alert you if something just isn’t working and needs to be thought over again. They may also have some great solutions ready that could solve the problem entirely.
The important thing to remember is that by treating your employees as company assets, they’ll be more likely to approach you with potential problems instead of not telling you and letting them get out of hand.
Human Assets in Your Startup
When you’re planning to launch a startup, you may feel overwhelmed with just how many things need your time, attention, and money!
With such a tight budget, you’ll probably be looking for a way to cut your budget. While cutting your employee’s salary (or cutting down on the number of employees you hire) can seem the best option, it may end up backfiring.
Human assets are extremely important to any company. But, they can be even more important to new startups. They can provide positive word-of-mouth marketing, offer good communication skills, become the face of your company, manage your social media, bring unique ideas to the table, and help identify problems.
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Source: Aaron Vick