5 reasons why bad hires are so costly to startups

When it comes to staffing your startup, the price is high. In fact, your hiring decisions are vital to the success and upward trajectory of your startup. In this article, we look at five reasons why bad hires are so costly to startups. From the actual cost, to your time, your reputation, lost opportunities, and the culture impact, you can't afford to mis-hire. #1: The cost The straight up costs with putting your job on job boards, culling through applications, interviewing candidates, calling re...
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Performance review options for startups

You probably know your employees dread performance reviews, but did you know that most managers are uncomfortable with them, too? If you fall into this category as well, it's good to know you aren't alone. Performance reviews are difficult to do, but they are the basis of a happy, well-trained staff. That is, if they are done right. In this article, let's look at performance review options for startups. Ditch the annual review ​ Who really wants this hanging over their head all year long? Plus, ...
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Payroll processing mistakes your startup needs to avoid

Mistakes happen every day in the business world, and some are more forgivable than others. Payroll isn't on the list of forgivable mistakes. Why? Payroll mistakes can be incredibly costly to your startup. Failing to comply to payroll laws gets the government involved which leads to penalties and fines. In the most extreme cases, it can even lead to jail time. What's more, when you mess up payroll, your startup's team can lose faith in you, and you may even lose staff members. To help you avoid c...
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Surviving as a start-up

Entrepreneurship isn't for the faint-hearted and each new venture brings fresh challenges even for experienced founders. Although statistics vary from one survey to another, the consensus is that the majority of start-ups fail within the first two to five years. And the failure rate is especially high among tech start-ups. Nevertheless, being aware of the most common hurdles and how to overcome them can significantly improve your chances of success. With that in mind, Chris Maguire shares here s...
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How startups can use social media to recruit talent

Did you know that job seekers rank social media networks as the most useful resource for jobs when compared to job boards and ads, recruiting agencies, employee referrals, and recruiting events? This is worth noting because the recruiting process has changed for many companies over the last several years. Like many things, social media has solidified its place as somewhere your business needs to be. When you use social media to attract candidates, you are easily able to narrow your target market...
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Before you start a business, make sure you have a safety net. Here are 13

Entrepreneurship is inherently risky and having a great idea for a new business, product or service, isn't a guarantee of success. It's widely reported that most startups fail within the first two years and that running out of cash is one of the most common causes of startup failure. No matter how well prepared you are, there are always going to be unforeseen challenges that create unexpected costs. That's why every entrepreneur needs some form of safety net. To help you choose the best fit for ...
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Your latest startup failed. Here's how to learn from it and bounce back (in 5 steps)

There are plenty of entrepreneurs who experience multiple—and sometimes spectacular—failures before accomplishing their dreams. And very few startups achieve success without experiencing at least some failure along the way. This is where entrepreneurial resilience comes in. Your ability to bounce back depends on how you respond to failure. And your future success depends on what you learn from failure that you can take forward to your next venture. Here, John Boitnott shares "a simple and effect...
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15 ways start-ups conquer PR & media relations

Despite being a powerful tool for building a brand, the role of PR is often misunderstood and undervalued. Some business owners think of PR as damage control when a company's reputation is at stake, while others confuse PR with marketing. Unlike marketing, which aims to boost sales by speaking directly to consumers, PR aims to build positive relationships through media coverage. To help you understand how PR can help your business, William Comcowich shares here some top tips for from PR speciali...
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5 key areas for startups to outsource

You're ready to launch your startup, and you know you need employees. Does the task seem overwhelming? Recruiting, hiring and training employees is an intimidating task for even the most seasoned businesses. What's more, you may not have the finances you need in the beginning to provide a salary, benefits and even office space and equipment for an entire team. This is where outsourcing comes in. Outsourcing is a terrific way for startups to take care of essential functions when your budget is sm...
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How to know which ideas your company should pursue

While some companies struggle to come up with a single idea that has great potential for success, others may find it hard to choose just one from a number of promising ideas. The problem, say researchers Dirk Deichmann, Violetta Rodopoulou and Inga Hoever, is that "there is no widely shared notion of what constitutes a good idea." Rather than focusing on the usual criteria of "novelty, feasibility and market potential," they propose selecting an idea based on efficiency. Here, they share ho...
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