After working in multiple startups ranging from Real-state, Fintech to running a Digital Healthcare startup, I can now clearly say that startups in Nepal have extraordinarily more C-suite titles even in comparison to any Corporate houses. If you are someone who might be looking to startup your own venture and exploring the right team members then this article is for you. I would like to take your focus on to what sort of people one needs in those C-Suite titles or in similar roles if you are going to start your own Nepalese venture in 2022.
Here are some people you will require to run a successful Startup in Nepal:
1. Legal & Finance
A person coming from legal and finance background is a-must-have member in the team. As startups struggle with finances in the initial phases, a person with good finance background is the first key to succeeding the initial storm of your startup journey. This person should also have necessary knowledge required to keep your startup within the existing regulations of Nepal government.
A person who can get you the best prices for equipments or materials required to manage your supply chain of products required in your company. This person would act as a check and balance between your Finance and your employees. You will get all the necessary things with minimum prices balancing everything.
Startups tend to focus more on product and services development that they end up getting more technical and similar set of people from their circle rather than getting a marketing people. Remember, Your Product or Services mean nothing if you cannot sale it. In the end, if money comes, you survive, if it doesn’t then you do not have a choice. So, better get the right people who knows the market in your relevant field.
A dedicated person who knows to balance the amount of focus in every aspect of the startup is required. A person who has a background in Project Management or similar would be the ideal candidate for this position as they would know which should be the first priority and which should get the least. Maintaining overall balance in the team.
Also, all of the types of people mentioned above should at least have 6 months to a year long experience. Freshers have the energy but as time passes by, they would not be able to handle the amount of waves that comes from various unforeseen events. Try to have different set of experienced people in the team.
For the initial days, I would not suggest having a Human Resource (HR) in the team as startups comprise of limited people so having a HR person would not be beneficial. Once there is a good amount of cashflow and you require much more people than you initially thought then a good HR will become a lifesaver but not mandatory in the initial phases.
Aside from these four types, you would require technical people relevant to product/services development from your field of expertise. So, having the right set of people is always the key to running a successful startup in Nepal.