What you need to know to create your arbitration team
An arbitration team involves a few key steps in its creation. In this process, it is important to pay attention to choosing the format of work, determining the starting budget, and the strategy for finding and hiring employees.
Choosing a work format: remote or office?
- Office: For beginners with no experience in arbitrage, it is preferable to work in an office. This allows you to closely supervise the activities of bidders and minimize the risks of stealing work materials and leaking traffic.
- Remote working: While remote working offers more flexibility, it requires establishing trust and using specialized tools for monitoring.
Startup Budget
To launch an arbitrage team, it is recommended to have at least $50,000 in startup capital. This amount will get you through the initial period of finding effective offsets and getting the team up and running, which can be unprofitable.
Budget Recommendations:
- Minimum recommended budget: $50,000.
- Optimal starting budget: $200,000 for more opportunities and experimentation.
Approach to hiring employees
Hiring the right employees plays a key role in the success of an arbitration team. It is important to select candidates who are willing to share their experience and knowledge within the team, and who have similar goals and values.
- Reliability indicators: Changes in the lifestyle of employees can be an indicator of dishonesty. It is important to pay attention to such signals and hold regular meetings to discuss results and plans.
Building an arbitration team requires careful planning and management. Choosing between office work and remote work, determining an adequate startup budget, and a competent approach to hiring employees are critical success factors. With the right approach, even a beginner can build an effective team and achieve success in traffic arbitrage.
Building an arbitrage team for beginners: the role of the owner and hiring employees
The key to successfully building an arbitration team lies in understanding your role as an owner. As you begin your journey in arbitration, it is important to realize that your job will not be to manage the day-to-day processes. Your primary goal is to provide strategic guidance and find a trusted partner who can take over operational management.
Key Points:
- Finding an experienced arbitration partner.
- Delegation of operational management.
- Strategic planning and development.
Step 1: Hiring an HR Assistant and building the team
The first step after defining your role is to hire an HR Assistant who will take on the task of finding and hiring the rest of the team, from the team leader to the technical department.
Step-by-step plan:
- Hiring an HR assistant to find key employees.
- Creation of the core team, starting with the team leader.
Step 2: Form the technical department
The tech department plays a critical role in providing the infrastructure for arbitrageurs to operate. From choosing a CRM to customizing tools for buyers, the tech department is responsible for everything.
Tasks of the tech department:
- Preparing CRM and other necessary tools.
- Providing technical support to the team.
Step 3: Hiring Buyers
The most important step is hiring the buyers who will be directly involved in traffic arbitrage. Choosing the right people for this role determines the success of the whole team.
Selection Criteria:
- Experience in arbitration and related fields.
- Willingness to share knowledge and work for a common result.
- Ability to work independently and accept responsibility.
Expanding the team and rewarding the best
As your team shows results, it’s important to think about expanding it and rewarding the most effective of its members. Creating a supportive team environment and a clear understanding of the reward system is key to long-term success.
Development recommendations:
- Attention to team processes and the results of each employee.
- A flexible remuneration system to incentivize the most efficient buyers.
Arbitration team development and key management aspects
Growth and development within the team
Effective management of an arbitration team includes not only hiring qualified specialists but also their subsequent development. The principle of “growing” specialists within the team not only keeps employees motivated but also creates conditions for their career growth.
Growing within the team:
- Team leaders nurture buyers, preparing them for a possible transition into team leader roles.
- Buyers with managerial skills can get 2-3 pourers under their supervision, and in case of successful work move to team leaders.
- A “conveyor” process of employee development from caster to team leader is created.
Approaches to hiring and managing the team
One of the key aspects of successfully managing an arbitration team is the right approach to hiring and assigning responsibilities. Effective management involves delegation, monitoring task performance, and incentivizing better performance.
Management strategy:
- Start by hiring a small number of buyers and gradually increase the team by analyzing their performance.
- Regularly communicate and monitor the work of buyers and team leaders to ensure efficiency and identify potential managers.
- Building a motivational system to incentivize better performance and team loyalty.
Benefits of working in a team
Working in an arbitrage team opens up new opportunities for scaling and effectiveness of advertising campaigns. Key benefits include:
- Larger budgets: Ability to work with larger traffic volumes and advertising budgets.
- Wide choice of traffic sources: Access to different sources and the ability to test new campaigns.
- Separation of duties: Specialization of employees allows you to increase the overall efficiency of work.
- Access to private offers: Improved conditions of cooperation with affiliate networks.
Disadvantages and risks
With all the advantages, there are also risks and disadvantages of working in a team, especially related to the possibility of budget or bundle theft. Careful selection of team members and building trust are critical to minimizing these risks.
Precautions:
- Careful approach to selecting employees.
- Building open and honest relationships within the team.
- Implementing control and reporting systems to minimize theft risks.
Conclusion
Creating an arbitration team opens new horizons for the owner to develop and scale the business. A properly organized team can not only significantly increase the volume and efficiency of work, but also provide an opportunity for career and professional growth for each of its members. The development of a clear system of recruitment, training, and motivation of employees, as well as the implementation of a transparent system of control and management will help to reduce risks and ensure the long-term success of the arbitration project.
FAQ
How do I build my arbitration team?
To create an arbitration team, it is important to choose the format of work, determine the starting budget, and develop strategies for finding and hiring employees.
What format should you choose for your arbitration team: office or remote?
For beginners, an office is preferable because of the close supervision; for experienced people, remote work provides flexibility and requires trust.
What should be the starting budget for an arbitration team?
We recommend an initial capital of at least $50,000 to cover start-up costs and to find effective offers.
How to approach hiring employees for the arbitration team?
It is important to select candidates who are willing to share experience and have similar goals, with attention to lifestyle changes as indicators of reliability.
What is the owner’s role in building an arbitration team?
The owner’s role is to provide strategic guidance and find an experienced partner to manage the team operationally.
What steps should be taken to build an arbitration team?
Start by hiring an HR assistant, creating a core team with a team leader, forming a technical department, and hiring buyers.
What precautions need to be taken when working as a team?
Careful selection of employees, building honest relationships, and implementing control systems to minimize the risk of theft are necessary.
What are the advantages and disadvantages of working in an arbitration team?
Advantages: large budgets, wide choice of traffic sources, specialization of employees. Disadvantages: risks of budget or bundle theft.
