Starting your own company can be an intimidating prospect. Most new entrepreneurs have the passion and drive for success but lack the experience, resources, and support.

Assembling a team seems like a good first step – as they say, many hands make the work light – but how big should the team be? And what role should each team member play?

Experts say a team does not have to be large to be effective – in fact, it can be as small as three. So let’s start with that. If your initial team consists of three people, what should their roles be? Here are some tips:

#1 – Chief Executive Officer (CEO)

Everyone having equal status can be a formula for chaos. To achieve maximum effectiveness, your company should have a leader — someone who can provide direction and a vision for the future. A CEO is the most senior corporate officer in an organization. They’re responsible for the company’s overall success. Your CEO should be someone with the expertise, experience, and leadership skills necessary to steer your business toward its goals.

#2 – Chief Marketing Officer (CMO)

Marketing is a crucial component of any successful business. The CMO oversees all marketing activities within the company. They develop and execute marketing strategies to build brand awareness, reach new customers, and grow sales. Look for someone with creativity, analytical skills, and knowledge of industry trends.

#3 – Business Development Manager (BDM)

You’ll be hard-pressed to expand your business and reach new markets without a solid business development strategy in place. A BDM is responsible for identifying and cultivating new opportunities. This role requires networking skills, strong communication skills, and the ability to negotiate deals. If you want to build valuable partnerships and scale your business at a healthy rate, hire a BDM from the outset.

Conclusion

Starting a small business is thrilling but know that it comes with lots of challenges. Your company’s success will depend on your ability to hire the right people for the right positions, and finding a CEO, CMO, and BDM should be your top priorities.

When you have a solid team in place, you can focus on your strengths and grow your business to new heights. The key to lasting success is to start small and stay focused!

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