Your Team
Your Team
Embedded Files
Who should you be working with?
Who should you be working with?
Instructions
Instructions
Your choice of team [business partners, investors and employees] is just as important as any product idea you might have.
Your team will ultimately determine the success of your business, so think carefully about what kind of people you want to work with and need in your business.
Outcomes
Outcomes
- Understand team and interpersonal dynamics.
- Understand the impact that specific experience and knowledge vs shared vision and goals play in the success of a startup.
Tasks
Tasks
- Read the text below about startup teams and hiring.
- Read the article and complete the review questions.
- Complete the personality test and reflect on the findings.
What Makes a Team?
What Makes a Team?
One of the most significant reasons a startup fails (after "building something that nobody wants") is related to the team behind the project. Investors often look more closely at the team than the idea:
- Do they work together well?
- Can they take an idea and make it happen?
When choosing your team, make sure you have these two things:
- Shared Vision - agree on the broad purpose for your business
- Complementary Skills - fill the skill gaps
The three startup types are listed below - you'll need to be able to do all three or find partners who can help you where you're weak.
This material inspired by and sourced from MIT's LaunchX program. Read more at:https://launchx.com/blog/post?s=entrepreneur-types-builders-branders-and-business-developers
Build
Build
This is the inventor. The person who dreamed up the idea for the revolutionary product you create.
Included in this category are makers, designers, engineers, programmers, developers, hackers, and artisans.
example: Steve Wozniak
Brand
Brand
This is the salesperson. The person who creates the story and knows how to tell it to attract the right customers
Branding skills include marketing, design, writing and story telling. Branders understand the customer and their needs.
example: Steve Jobs
Business
Business
This is the business manager. The person who brings it all together, so that you can deliver your product profitably.
Business development means taking care of money, production and people - get all that right and you've got a business.
example: neither of the Steves!
Hiring for a Startup
Hiring for a Startup
KEY TO HIRING FOR A STARTUP:
- Do not look at what school someone went to.
- Do not look at their grades.
- Do not look at their past job experience.
DO LOOK FOR:
- Hustle
- Heart
Who's going to show up early and stay late? Who speaks as "we" instead of as "I"?
Who can think on their feet and roll with the punches? Who will never answer a request with "that's not my job"?
The key to a good hire is finding someone who is a CULTURE and WORK STYLE fit.
If you hire the smartest, fanciest person who has no hustle compared to the rest of your team they will spread through your culture like a cancer.
Hire for heart.
Task: Article & Review Questions
Task: Article & Review Questions
The article provides details of a research study that tried to understand what makes a successful startup team. Read the article and complete the review questions below.
- What is a Venture Capital firm? What role do they play in supporting startup and growth enterprises?
- What does the article mean when it talks about hard and soft skills? Can you provide specific examples of hard and soft skills that a startup (or your startup) will need?
- Explain the key findings of the research study that this article is based on. What does this mean for entrepreneurs and investors?
With specific reference to the case study provided in the article...
- Describe the skills, experience and qualifications of the Clocker team. Do you think they sound like a team that would be successful in launching their startup?
- What went wrong with Clocker? What were the problems and how did these impact on the eventual success of the company?
Now thinking about your own ideas for a startup...
- What are the characteristics and qualities that you offer the team?
- What are the characteristics and qualities that you will look for in partners? Explain why.
Task: Personality Test
Task: Personality Test
Carson Tate - Productivity Styles.pdf
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