A large scale study on the state of small business by the Small Firms Economic Development Initiative found that the number of employees in a small business is often a limiting factor. The best strategy is to recruit a team of like-minded individuals that can collaborate to achieve your goals. It is also a good idea to employ a foolproof hiring strategy. Having a well thought out and well executed human resources plan is a top priority, especially for the startup company. This is where the best acqusitions and the best hires can make or break the future of your venture. On top of that, having a stellar work environment is key to a successful employee.
There are a number of factors to consider, not the least of which is the budget. The smarter approach is to start with a sound financial and legal framework, and to build out a solid team of people to support it. To this end, a small company may hire full time, part time, or contract workers. Among the choices, the most viable option is to employ a team of professional contractors, as well as employees. While the cost of such an arrangement may be prohibitive, this is the best route to take.