This is a summary of session#2 of the monthly online webinar event: Master Startup Operations With our co-founder Adam and Founder Institute's Head of Global Operations, Ryan Micheletti, which is about demystifying confusing but straightforward question: What is startup operations?
In this session, Adam talks about what founders should be thinking about related to early-stage, early-startup Human Resource related matters, best practices, avoiding pitfalls and covers key topics that include:
Recruiting and crafting your team
You need to get it right, as when someone you hired churns, you lose a massive amount of value and cause team disruptions, plus you'll have to do recruiting, training, onboarding all over. Watch this video(around 6:00 mins) to know:
- What an early-stage startup team composition looks like.
- About tools such as rolebot.ai, AngelList which are way less expensive than Recruiters.
- Why working your network is the best way to building a great team.
- Why having clear Job Descriptions is vital for your company.
- How to go about finding co-founders for your company.
Managing Payrolls
If you have raised some money and are paying salaries, you should get good payroll software to do payrolls, as it is a complex area and payroll systems are relatively cheap, and the ROI of not having to deal with your payroll is massive. Watch this video(around 13:19 mins) for more and look forward to knowing:
- What goes into the compensation structure.
- Factors to consider when deciding compensation.
- Best software tools in the market to manage payrolls, i.e., Gusto, Rippling.
- Compliance and scaling when hiring through PEO vs. EOR vs. as an Employer.
- About compliance issues related to taxes, state registrations, legal, and insurance.
Hiring International employees
For companies are looking for international talent recruiting and ensuring compliance with all the differences in currency, legal and financial regulations can be tedious. Watch the video(around 32:30 mins) where Adam discusses:
- How companies can recruit internationally and ensure compliance.
- How to pay international employees and Tools (Deel, Remote) to do it.
- How to get equity to your international employees.
Think about how you compensate with equity
Equity compensation is a bet where employees are betting on the chance they have an opportunity to their equity being worth a lot in the future. Instead of managing it in spreadsheets, you should get a software product like Pulley or Carta. watch this video(around 39:00) to know:
- How much equity compensation should you grant to employees.
- What is the vesting schedule? And how it works.
- How to think about the vesting schedule when giving huge grants to co-founders, senior people?
- What is 83b? And why you should get your team to do it.
- How to talk about the value of your equity.
Building right culture
The company you create and your set's culture, including how you deal with HR issues, will enable your company to scale the right way and be successful. Businesses can handle growth and thousands of small decisions without the Founding team's involvement; they'll make decisions based on the culture you've set. watch this video(around 50:00 mins) to know:
- Why culture matters?
- What it takes to build a great culture.
- How to reinforce company values within your team.
Like our content?
The next talk of the series will be on startup equity and happen in august; subscribe to our blog and get notified directly at your inbox. Stay tuned for more details. we cover advice, inspiration, and practical guides for founders of early-stage startups.
Note: Our content is for general information purposes only. AbstractOps does not provide legal, accounting, or certified expert advice. Consult a lawyer, CPA, or other professional for such services.