How to start your own business while you’re still employed

Building your own business without having to give up the financial security of a regular salary can be a great way to test the water and validate your business idea before taking the plunge into full-time entrepreneurship. Many successful entrepreneurs start working on their business as a side hustle. And while it may be hard work, research shows they're less likely to fail than those "who jump in without having the safety net of employment," writes Pratik Dholakiya. Here, he shares his top...
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Top HR mistakes made by startups and how to fix them

You know that to help your startup succeed, you have to have a competent, experienced, dedicated team. Unfortunately, though, many startups slip up when it comes to human resources, hiring, training, developing and retaining a great team. To help you avoid these all too common issues, we look at some top HR mistakes made by startups and how to fix them. Mistake #1: Not hiring a human resources person Whether you have a part-time, full-time or outsourced professional manage your HR, you need some...
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A guide for adding senior leaders to your young startup

What startup founders lack in experience they often make up for in ambition, effort and grim determination. As the business grows however, it takes the skills and experience of seasoned executives to successfully transition from startup to scale up. And "there comes a time in the life of every growing startup when it's time to bring in some new leadership," says Amy Norman. While bringing a new senior leader into the business can be challenging, Norman shares here some top tips for mak...
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How to build a successful business team

While it's common for startups to wait too long before they start hiring, you won't be able to do everything yourself when it comes to growing the business. You need to start building a team that shares your vision and values, while bringing the right balance of skills and experience to fill key roles in the business. Having the wrong team is one of the top reasons for startup failure, so you need to be selective and strategic about the people you choose to work with. To help you build a winning...
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5 tips for startups making their first few hires

Did you know that the number three reason startups fail is they were unsuccessful hiring the right team in the beginning? Because of this, we want to look at what you should do and look for when putting together your new company's team. Let's look at five tips for startups making their first few hires.   Tip #1: Hire early If you can afford it, begin hiring your staff as soon as you need them. While the budget might be tight at first, you'll benefit from having extra brainpower in your earl...
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8 ways to better manage your startup’s burn

While it's impossible to grow a business without spending money, it's vital for startup founders to understand the difference between necessary and unnecessary outlay and avoid wasteful spending. It's also essential to manage your burn rate so you know how much capital you need and how you're going to spend any funding you raise. The key to how effectively you spend your money comes down to discipline and having a "low-burn mindset," says entrepreneur Dennis Zdonov. Here, he shares eight strateg...
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Creating an effective onboarding process for startups

The typical large company has an employee on-boarding process that works and is a natural part of their system, but there's no reason your startup can't follow the same game plan. In this article, we will look at creating an effective on-boarding process for startups. This is very important to emerging businesses as it not only gets everyone started on the right foot, but it sets the tone for your company culture. Onboarding provides your employees with training, direction and guidelines. Withou...
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8 reasons you need a CFO

According to Inc , one of the most common reasons startups fail is a lack of cash. This where a chief financial officer (CFO) can really help you by staying on top of your finances, knowing what you need to succeed as well as when it's time to raise some more funds. Let's look at eight reasons why you need a CFO for your startup. The definition of a Chief Financial Officer Some businesses will choose to hire a CFO on staff, while others will decide to outsource this position. Either way, a CFO w...
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Outsourcing HR for start ups

Outsourcing is the secret weapon for startups. It's part of an effective business model, and one that can help you succeed. While there are several areas in which you might find outsourcing beneficial, let's look at outsourcing HR as this is one area where it's definitely a good idea. You already know that growing your startup is an exciting time as well as one that leaves you wearing many hats. The good news is that with outsourcing, you don't have to do everything. When you outsource your HR, ...
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Going public: When your business should take the leap to IPO

Taking your company from a privately owned to publicly listed is a big step and while it may be one of the most exciting experiences in your business life, it can also be stressful, time consuming and expensive. You need to be aware of all the pros and cons before floating your company—and timing is crucial. Laura Mott explores here the main internal and external factors you need to consider, including the current economic uncertainty UK businesses need to take into account when deciding on ...
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