If you pick the right people and give them the opportunity, to spread their wings and put compensation as a carrier behind it, you almost don’t have to manage them.” -Jack Welch
It was another exciting evening, as Founder Institute Lagos first cohort, entered the 11th week, with another class session, on Friday, September 6, 2019. The class took place, at the premises of GoDoHub, situated at GRA, Ikeja, Lagos state.
The bar has been raised and some Founders had been advised, to withdraw, after they were assessed and found, unable to measure up, to all that was required from them, during the previous session, (Mentor Progress Review – week 10 of the Founder Institute).
For the 11th week, Founders that scaled through the previous session were tutored, on the best method to employ, when it comes to hiring and on-boarding.
Mentors present were, Dr. (H.C.) Peter Adewale Obadare – Founder/COO, Digital Encode Limited, Gordy Oshoko, CEO, Treadgold Ltd and Michael Oluo Co-Founder, CEO at SignalEats, (FI Ghana Graduate).
After the mandatory 3 minutes pitch, by some Founders, on the hot seat, the mentors gave their feedback, coupled with some useful tips, on how best, the Founders can upgrade their business models.
The first mentor to speak was Obadare who spoke on “The Dynamics of Co-Founding, Hiring and On-boarding”
He started by proposing 6 questions that, Founders, needed to ask themselves, as follows:
- How to determine, whether you needed a Co-Founder or not?
- How do you decide, what to outsource?
- What is an effective hiring process, for a new business?
- How do you test candidates?
- How do you onboard candidates?
- What amount of time, should be spent, on hiring?
“Founders need to understand that, the primary goal is, not to catch fishes, but to teach how to catch fishes. Teach your employees the necessary skills that are required and you will see them blossom, which, in turn, boosts the growth, of your company” Obadare stressed.
Entrepreneurs need to get their fundamentals right, as two, cannot walk together, except they agree.
“There must be a basis for agreement – common goals, common vision, shared values, integrity, attitude towards money, hard work, delayed gratification, etc”, he stressed.
“Co-Founders needed to add value, to the partnership, as life is about adding value, or, you are solving a problem”, Obadare concluded.
The second speaker of the day was Oshoko who spoke, on the topic, “the onboarding Statistics, you need to know”.
He explained that companies that have not yet embedded the spirit of on-boarding will never grow, as they will constantly lose good and productive workers.
“You just have to find a way, to get it right, at this stage, as this will determine the next phase of your business”, Oshoko stressed.
According to statistics that, Oshoko dropped, organisations, with the standard onboarding process, experience 54% greater, new hire productivity.
“A strong onboarding process creates a bond, among your workers, which can only lead, to the growth of your business”, Oshoko concluded.
The third mentor Michael, admonished the founders on the need, to tactically, organize their onboarding plans, as it goes a long way, in terms of the success story of the start-up.
The session was so informative and educative, as testified to, by the Founders.
After the questions and answer period was over the session was brought to a close by one of the Directors of Founder Institute, Chukwuemeka Fred Agbata Jnr, Presenter of Tech Trends on Channels TV, The Punch Columnist and Co-Founder, GoDoHub, who charged the Founders and thanked the mentors.
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