You may believe that with an amazing concept and some funding, you can derive a successful startup. You are completely wrong! The truth is that 75% of all startups tend to fail in the very first year of launch. One major reason cited for the same does not have an adequate and well-trained team in the proper place. 65% of startups experience failure because of management issues. Hence, when starting a new business, you need to hire the right kind of people to fit different profiles correctly. To achieve this objective, you need to be aware of the different startup roles in an organization.
Startup roles that matter
CTO (Chief Technology Officer) – Innovator:
This role is not dedicated only to development and coding. He/she is the right hand of the CEO helping to fine-tune tactics, strategies and business goals. During the initial stages, the CTO is expected to be hands-on in the company’s IT/development side. Also, he/she is to ensure the tech team meets specified deadlines on time.
CEO (Chief Executive Officer) – Visionary:
He/she is referred to as the pack leader and main decision-maker. They are passionate about the company’s future objectives and dream big. They search for market opportunities constantly for their products/services. 44% of startups fail since no market is identified for the product to sell. It is the CEO’s job to identify the pain point as well as fix it.
Developer – Builder:
The job role involves being curious about the code as well as eagerness to push boundaries. The objective \here is to come up with a killer product. During the early stages, the CTO is responsible for most of the product’s coding. The core responsibilities include reviewing current systems, design, code, and test; debug software, test updates and products, etc.
Also Read: Tips for Finding a Good Business Broker
Product – Director:
The product manager is responsible to direct as to who the product is to be sold to. He/she also decides how it is to be positioned to prospective buyers. The role entails the professional to show the target audience how valuable is the product. They conduct research to identify customer’s specific preferences and tastes. They also develop product marketing strategies and objectives.
CMO (Chief Marketing Officer) – Marketer:
The CMO’s importance in a startup is often overlooked. The CMO takes care of marketing, drives demand and ensures product growth. They help create and develop customer base, enhance profits and bring in revenue.
Operations – Organizer:
The role of the Operations Manager is to boost overall team productivity. Their role is to ensure everyone performs to their optimum level and hold up the venture together. It is rather a broad role, thus requiring the manager to be more flexible to solve day-to-day problems. They need to ensure that the team is following the right track.
Sales – Rainmaker:
VP (Sales) in any new venture is much different from that of VP (sales) at any enterprise company. The typical salesperson is not likely to survive on the sales floor of a startup company. The reason is because no ‘sales floor’ exists here. Also are required different skill sets. Their role is to develop, define sales strategies tactics and process. They also prospect as well as close sales. They have to recruit, train and manage/track sales representatives’ performance.
CFO (Chief Financial Officer) – Money Manager:
Although startup is likely to start with less capital, the CFO’s role cannot be skipped. They are responsible to form new relationships, ensure company’s growth and develop financial processes. They also are responsible to optimize cash possessed for the startup and develop a viable plan as the company grows.
Getting to know the above startup roles will help you to hire the best staff for your new venture.