5 success factors to build a business remotely

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Never before have so many startups been founded independently of location as in the corona pandemic. Our guest author explains what is important.

Remote is one of the most popular buzzwords when it comes to New Work. But what exactly does that mean in practice? In essence, it is about people from different places and time zones working together on a big vision – and being virtually networked with one another.

The success of a fully remote company depends on numerous factors. Below are five aspects that location-independent founders should definitely consider.

The success of a company stands or falls with the team. What applies to any business that consists of more than one employee is all the more true for teams that only operate remotely. And the challenge of finding talents who can fill a certain role with life in the best possible way is all the greater. It is important every time to make sure from a distance that a candidate is really the best for the position.

The key to success lies in rethinking the entire recruiting process. Not only with regard to the determination of individual skills, but also with regard to the special framework conditions of a remote setup. For example, companies could confront a candidate with a specific task that needs to be solved after a positive initial interview. Important: The whole thing happens in written form in order to simulate the challenges of bridging space and time zones right from the start.

If an applicant: has mastered the recruiting process, onboarding is imminent. This is where the foundation for further development is laid: getting to know the company and the products, getting up close and personal with the team and developing your own mode to grow into the new role. But: In a personal conversation – whether analog or virtual – click through a few slides with the most important information, that does not work in a remote company. Especially not if the team partner: lives on the other end of the world and goes to bed when you are brewing your morning coffee.

In terms of implementation, this means that companies that operate completely remotely must find solutions to map the entire onboarding process in such a way that it is reproducible or scalable and does not require any additional human capacities in real time. Using tools like Hesitation companies can develop so-called learning journeys. As part of an onboarding journey, new employees are regularly provided with new content and tasks so that they get to know the company and their respective areas of responsibility in all its facets.

Due to its documentary nature, standardized onboarding has the great advantage that it brings all new employees up to date. However, the long-term goal must be to promote everyone in the team according to their individual skills and interests. One can only understand one’s personal development to a limited extent without having met someone in “real life”. It is all the more important to actively offer and support participation in appropriate offers such as training, workshops or language courses – also financially.

If a company is to grow regardless of location, the willingness to accept mistakes is essential. It has to be part of the self-image of the team and the company that some things just don’t work the first time. But if you want to move forward quickly, you should give your team exactly this space to experiment and thus establish a positive error culture, instead of claiming to work on details until a development process loses its dynamics and overall progress comes to a standstill.

For founders, freedom and trust also means leaving certain decisions – at least from a certain point in time – to others. A very practical example: Those who are responsible for bookkeeping can probably also best judge which software solution is suitable for their area of ​​responsibility – actually quite clearly. Some founders want to be involved in such granular decisions and fall into micromanagement. Instead, they should rely on the expertise of others.

It’s hard to imagine that a team can really grow together without real “building”, right? Canoe trips together, role-playing games and partying together from time to time – aren’t such personal experiences a basic requirement for being able to rely on each other professionally?

The corona pandemic has undoubtedly shown how much we lack direct contact with other people. On the other hand, both the decision to set up a company completely remotely and the decision to work for such a company are in most cases consciously chosen. It is therefore all the more important, as the person responsible, to ensure that the team grows together and with one another in the digital space.

Digital tools can be a good aid here. Donut, for example, an extension for Slack, helps establish a virtual coffee culture within the team. People are randomly linked to each other and then have the opportunity to exchange ideas and get to know each other.

Tech companies in particular usually work with different software solutions that are intended to make everyday life easier. Keeping an overview in the provider jungle and knowing exactly which tool is suitable for which task is almost impossible. However, there are tools that can be real game changers.

• Providers like Hofy, Lendis or Firstbase help new employees get the equipment they need, no matter where they work from. Whether laptop, desk or ergonomic chair – everyone gets what they need.
• Tools like Deel, Remote or Oyster make it possible to employ employees anywhere in the world and thus to comply with international regulations. This also makes drawing up contracts much easier.
• Neobanks like Revolut, Donation desk or N26 enable your business customers to create a virtual credit card for an employee within a minute. In this way, recurring payments can be paid automatically without companies losing track of things and keeping them in control.

Often companies are founded and built up regardless of location before the founders decide to open a “real” office. New employees are then sometimes assigned on site, suddenly there are small team events and so many decisions – no matter how unimportant – are made in the kitchenette.

It is not uncommon for such a hybrid solution to be sold as a happy medium, but it is more of a lazy compromise. And also unfair to those who continue to work remotely. So if you are really serious about the same requirements for the entire team, you should go all-in: fully remote or completely stationary, with the chance of a workplace in the office for everyone.