In a new Recruiter.com article on building a team as an entrepreneur to scale to unicorn size and status, Mark Flickinger, BIP Capital’s COO, provides this advice:
So many startups fail to ever get off the ground. For your business to make it through its first year — that alone is a major accomplishment.
While making your way through those fledgling years is definitely a milestone to celebrate, it doesn’t necessarily mean that your business has any guaranteed longevity, nor is it any indication that you’re creating a “unicorn” company, which is a privately held startup worth more than $1 billion.
The truth is that 80 percent of companies survive their first year. A more telling statistic is that only 30 percent of companies are still in business after a decade. When you take a good look at the unicorns and other industry leaders, you’ll find they aren’t the overnight successes they might seem to be. Most are nearly 10 years old — meaning it took the company that long to be considered successful.
If your goal is to create a unicorn, you need to prepare yourself for the process to take at least a decade. It may happen sooner, but luck favors the prepared.
Building a company that can stand the test of time requires assembling a team with unique skill sets, drive, and stamina. Here are five tips for recruiting and retaining the people your company needs in order for it to grow and thrive for a decade and beyond.
Continue reading “Recruiting for a Decade and Beyond: 5 Tips for Building a Unicorn Team” in Recruiter: https://www.recruiter.com/i/recruiting-for-a-decade-and-beyond-5-tips-for-building-a-unicorn-team/