5 Reasons Why Virtual Teams are Best for Your Startup
Today many organisations are spread across numerous locations and managing a virtual team becomes one of the toughest tasks. In addition to usual challenges, managers have to deal with different time zones, lack of social interactions, long-distance management, the list goes on.
But despite multiple challenges, virtual teams have proved to be one of the best ways for startups to provide top products and services while remaining flexible for customers and responsive to their needs.
The basic definition describes a virtual team as a “group of people who work independently with shared purpose across space, time, and organisation boundaries, using technology to communicate and collaborate.” In other words, virtual teams allow organisations to bring together people with the best expertise, regardless of where they live.
How Startups Benefit from Virtual Teams
#1. Talents from all over the world
The biggest benefit of virtual teams is bringing together a large pool of talents. You have the opportunity to collaborate with amazing people from all over the world, without having to choose exclusively from the local labour market. This allows to build a successful startup even if you have to work with complex development requirements.
#2. Lower development costs
As we all know, some parts of the world have lower costs of living which allow to hire top employees within the startup budget. Startups usually don’t have much capital in the beginning, so getting quality work while saving money might be a ticket to success.
Startups are very dynamic structures, so it’s hard to predict what type of work you might need to do next week. The flexibility of virtual teams allows to focus on what you need most at the moment – it might be marketing one week and development the other week.
#4. Easy hiring
With virtual teams, you don’t have to waste much time on in-person interviews, showing employees around the office, dealing with taxes just to get one employee on board. Moreover, you can easily let go of mediocre employees and hire better performers.
#5. Saved time
Using virtual teams you don’t have to waste time on managing an office space, ordering office stationery and equipment, and other mundane things that you deal with when working at a real office. In other words, you save time and invest it only in tasks that matter to startup success.