Now that you have incorporated your business, the next thing you need to do is gather a team. But, you are not sure who to hire first?
Well, you have come to the right place!
To run a business, you would need a team with reliable and qualified members, all performing different roles. The right employees will ensure they grow with you and contribute to the business’s success. You also need to partner with the right corporate service providers to ensure your business stays compliant on all fronts and has no obstacles in its path to success.
As a business owner, finding the right people for your team can be challenging, but if you do it as soon as you incorporate your business, it will be easier for your team to grow together from the very beginning.
Yes, many roles must be filled, but let’s consider the essential roles in helping run a business effectively. We have put together a list of the eight most important people you must consider hiring as soon as you start your business to create a team that will help run your company successfully.
The First 8 People to Hire After Incorporating Your Business
Listed below are the first 8 people you will need to hire immediately after your business is established:
1. Chief Executive Officer (CEO)
The key player in any business is the CEO. Therefore, hiring the right person to fill this post must be done with extra attention, as the CEO is the one who controls and directs the company, guided by his or her own vision.
The Chief Executive Officer is the highest-ranking position in a company. The role of a CEO is to manage the overall operations of the business and make top-level decisions regarding the company.
Most commonly, the business founders would assume this role and the responsibilities that come with it. However, for some owners, it can be too much to handle. So to lift some weight off your shoulders, you can hire a professionally skilled Chief Executive Officer externally.
2. Chief Operations Officer (COO)
The role of the COO is to keep your business running by focusing on the day-to-day operations of the business.
The Chief Operations Officer will oversee the executives’ work and the company’s operations. The COO is a senior position in the management team, and he or she will only report to the company’s Chief Executive Officer.
A professional COO will drive the company towards sustainable growth and good business functionality.
3. Product Manager
As a team member, the Product Manager is the go-to person for all things related to the company’s products, such as their development and the strategy behind them.
This team member is responsible for identifying the customers’ needs and the objectives of the product or service of the business.
Typically a Product Manager works closely with the marketing and engineering teams to create and market the products.
4. Sales Manager
Whatever business you may be in, know that if you can master sales, your business will likely last longer. That is why it is important to hire a Sales Manager right after you incorporate your business.
The Sales Manager, as a team member, will bring in money for the company by focusing on generating new leads.
Hiring someone for this position can be challenging, but it will be worth it if you find the right person.
Look out for an experienced Sales Manager skilled in the particular field and hire the one who does not require much training.
5. Customer Service Representative
To become successful as a business and establish your brand in the market, building a positive relationship with your customers and clients is important. This aspect of a business can be quite a crucial one.
If your business isn’t communicating effectively with your customers and clients, it doesn’t even matter how amazing your products or services might be. Customer service is essential, and you wouldn’t want to bring down the reputation of your business with poor customer service.
A Customer Service Representative for your business is a post that must be filled with a professional who can handle customers’ queries and attentively attend to their calls and concerns.
6. Business Development Manager
A Business Development Manager will focus on the growth of your business and increase revenue by developing relationships with clients, partners, and other stakeholders.
This professional will be able to identify new business opportunities within your company and with other organizations.
A Business Development Manager looks for ways to attract attention to your brand, deal with other businesses’ offerings, and know precisely how to develop your business.
7. Chief Financial Officer (CFO)
Hiring a Chief Financial Officer after incorporating your business is essential for your company. A professional CFO manages all aspects of your business’s finances.
The Chief Financial Officer is one of the most influential people in a company and someone you need to hire as soon as you start your business. This particular role is vital for your company as the CFO deals with everyday financial necessities and significant financial issues.
8. Chief Marketing Officer (CMO)
As a business owner, if you want your vision to reach a broad audience, then consider hiring a Chief Marketing Officer. This team member should be an expert in marketing and promotions.
The primary role of a Chief Marketing Officer is to focus on the customers and understand their views on your product or service.
They should also be able to handle social media marketing, run ad campaigns, and write copy. Also, interact with customers and maintain positive relationships with them and your business.
The Chief Marketing Officer can also work with the Product Manager to incorporate customer feedback into product development.
Apart from the management team, you also need to meet some statutory requirements in terms of filling some key appointments. Within 6 months of the company’s incorporation, you need to appoint a company secretary and an auditor within 3 months unless your company is exempted from audit requirements.
When hiring people for your team, careful consideration must be given as it will be hard to make a correction further down the road if a mistake is made at the beginning; so, make sure that they share the same mission and vision of your company. Hiring new members for your team might be easy, but it is hiring fitting members that you need to focus on.
Find the right person who is experienced and skilled in a particular role. A true professional will save you time and money in the long run as he or she will make your business a success, generating profit.
The hired team members must also be able to work together to run the business successfully.
There are a lot of things you need to consider while hiring an individual. For example, if you are hiring a foreigner, you would need to apply for a work pass before they start working and also ensure you meet the quota requirements.
Read our incorporation guides to know all about company incorporation in Singapore: