I own a startup company (Hosting Firm) offering Dedicated Servers and we have grown to a decent size.
Now I wish to expand further and take the company a bit ahead and enter the cloud and smart servers market since everyone is running behind it.
We have managed to get some excellent deals from couple of popular data centers, so thats being already sorted out.
I am now thinking to hire someone to work with us. Someone who could guide us in the business expansion and help us grow. Usually we see bigger companies hiring popular Identities around and roping them up with their business to help them grow.
I was thinking of hiring or working with such individuals, no need to be a full timer but part time would also suffice. Not sure how much that would cost us but yeah we are willing to offer a december amount and give it a go.
Since I own the business, I personally do the marketing,sales and business deals but still there come a time in the business where you can no longer handle it alone and need to share the work.
But again finding the right individual is equally important since its not about testing their technical qualification or educational qualifications but more about their experience and the way they can shape the business.
This is just what I have in my mind. I might be right or wrong. There must be other start up business around who also feel the same but never made an attempt to ask around.
What do you guys think ? What are the other ways to expand business ?
We have some great minds around the board. Please pitch in your views
I feel the founders, owners, partners, and board members should be the only ones truly worried about expanding the business.
You need to break up your goals and hire the right individuals to help you obtain those goals. If that is finding new clients I would search out a marketing and a sales rep. If your support needs to be brought to a higher standard then find a good tech and so on an so forth.
Hiring an advisor is not necessarily a bad idea but may not pan out the way you hope. It is just my experience that asking employees to help you expand the business tends to end in turmoil for various reasons.
With that being said your employees are a core part of your business and will inherently help it expand or dwindle.
You might not be there quite yet, but once you reach a point where you're expanding your hardware rapidly make sure to look at other sources of financing such as a hardware lease structure. It allows you to free up cash for those new hires or marketing expenses. I know a few I can reference you into.