Remote teams are cost-effective, but it is not solely about the cost and turning a blind eye on the quality aspects. Don’t settle for anything that is not at par with the best. It is all about striking a balance between cost and quality so that you get maximum returns on your investment.
Starting a new company based on a fresh idea sounds welcoming to those who want to make it big in the market. Also, encouraged by the unprecedented success of the unicorns such as Airbnb and Uber, many budding entrepreneurs are coming up with their own ventures.
But it is not as easy as it seems. This is because startups have also encountered massive failures over the years, with 90% of the firms going south within the initial three years.
Some of the reasons behind failed startups include a weak founding team (23%) and competition (19%). All these factors put together can be a dampener right in the beginning stages. This is where remote teams come to the rescue.
Setting up remote teams in countries like India brings several benefits to the table – especially for startups. These include cutting down the operative costs, making way for more technical expertise, and paving the way for scaling the firm. With the best remote team strategy in place, startups can reach new heights in a short span despite the challenges they face.
Here’s a quick take on some of the pointers that can help your startup excel by choosing to set up a remote team.
Know Thy Goals
The first step is to know the goals.
To begin with, you need to know the long-term and short-term goals of the startup and how offshoring is going to justify them.
Next up, ask yourself, what do you need to set up remote teams for? How do you plan to integrate the remote team with your onsite team? How will it help you scale your firm? For how long do you want to opt for a remote team? Do you know the risks that may come your way? What are the returns on investment that you are expecting? Which country do you want to select for the remote team set up, and why?
The answers to these questions will help you prioritize your goals and align them with offshoring for the best outcomes!
Select the Right Team
This is a no-brainer.
This is where you need to create a strong online presence and create a unique brand identity. This can help convince candidates that they are joining a firm that is headed towards tremendous growth.
At the same time, your passion for the products and services should also reflect on various online platforms. This assures the candidates about an exciting job opportunity.
Also, as a startup, you can experiment with new techniques to hire people. For instance, you can select independent people who can don multiple hats and, therefore, take on multiple roles and responsibilities that land their way or opt for those who have experience in working for startups. This way, you will get people who can meet the unique needs and dynamic environment of your startup (think cultural fit).
Don’t Compromise on Quality
Remote teams are cost-effective, which is why several firms prefer those. But it is not solely about the cost and turning a blind eye on the quality aspects. While your production costs will be cut to a major extent, make sure that you don’t settle for anything that is not at par with the best. This includes the team that’ll work for you and infrastructure. It is all about striking a balance between cost and quality so that you get maximum returns on your investment.
Alternatively, you can ensure quality output by enhancing the productivity of your remote teams. Here are some quick tips on how you can go about this.
More often than not, when you have talented remote teams, they can take up the lion’s share of technical work for various startups. This way, they can focus on their core businesses. This doesn’t mean setting up a remote team and leaving everything to them.
You must also understand the A-Z of how the entire process is going to work in your favor. This includes knowing the local laws of the country your remote team is situated in, learning how the business culture varies, and how you can gain more out of it.
You could also partner with remote team experts who can guide you through all this and make it a hassle-free experience for you.
Do also make time to communicate with the team from time to time. We’ll cover this factor in the next pointer.
Communicate and Engage
Unlike outsourcing, the remote team is the extension of your startup. Therefore, stay connected with the remote team at all times and keep them engaged.
Interact with them using an array of communication and collaboration tools available.
Conduct virtual meetups at regular intervals. Take updates about progress on the projects. And most importantly, have fun! This is how the remote team will stay motivated despite the geographical and/or time constraints.
Leave It to The Best – Hire Remote Team Experts
These are some of the key strategies that can ensure early-stage startup success with their remote teams.
To implement them, hire the best remote team expert who has a thorough know-how of the industry and can set up an A-team for your startup from scratch.