Launching a new product or service can be very exciting – the concentration of social media marketing, web design and bringing in business – but it has been revealed that 80% of these new ventures could be seriously troubled by financial worries.
The long-term success of start-ups such as Google was observed through an appreciation of an embedded HR strategy.
Without frameworks that incorporate existing talent, many start-ups are destined to see their business fade, suffering from missed quality personnel opportunities and a shortage of manpower.
Charlotte Gallagher, the founder and Managing Director of Manchester-based HR Specialists P3 People Management, believes that start-ups should consider their HR approach at the earliest possibility. “It has been said so many times, but truly, talent is everything!”.
“We see so many fantastic start-ups turned away from their positive first forays and fail to develop because they don’t protect the talent they have, and they don’t structure their approach to getting quality personnel on-board.”
Without the standby capital reserves of larger companies, start-ups can culminate in crushing consequences.
Charlotte concluded: “Getting it right straight-away is the key to seeing your new start-up move through the gears smoothly, and stay on track.”