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Talent is the New Future

Posted on - 03-18-2014 12-35 pm  view

Many eccentric people have come with that special product idea in their basement or garage and later went on to make billions. But, was it this unique product idea that eventually made a successful company? This is definitely the start to get the attention of VCs and Angels. In fact in 2012, Angel investors were funding 67000 startup ventures annually. Okay! So now you have the funds. What next? Having gotten the opportunity to speak with candidates who have successfully made it up along the startup route and the not so fortunate folks, I am often intrigued by those conversations. I have spoken to individuals who have gone from one failed startup to the other, almost as though they are addicted. In this context, I have seldom heard them say, 'We did not have the right people, so we failed'. It always ended up being that the product was great, but the market was not ready or that the Co-founders had other priorities. It sounded like excuses. So is it always about the product or the uniqueness of the idea? There was email before gmail, there were social networking sites before Facebook. What is the contribution of people or talent-as I would like to call them-to the success of these companies? Simply put, it is the right talent that sets your company up for success as a startup and continued success as a company that is already doing well. What makes your startup a really interesting place to work? Is it the free food, the gym, laundry or other perks? Fortune Magazine says that it is a direct response of the attitude your talent has, to the credibility of the management, job satisfaction and camaraderie. As the saying in the industry goes, 'People often leave their managers and not the company.' It is getting to a point that a unique product and a startup venture is not unique anymore. Winning the war for talent and creating the ideal environment to keep this talent happy, motivated and excited is the true, not so secret ingredient to success. How many times would you want to dine at that place that serves food quick or the nook that is a blessing for your purse? Would you not take your special someone to dinner or meet your date at such a place? Why should talent for your venture be any different! For the talent out there, next time a staffing company or recruiter calls you, be aware that you are as good as the company that wants to hire you. Don't shrug them off as some car salesman or an ambulance chaser. They are doing the most difficult task of them all- Mapping talent to opportunity. Vivek Menon, President & Founder of vHire Inc, is a Recruiting specialist who has over a decade of experience working with some of the top services and product companies in the US.