This document provides an overview of starting a new business, including the key elements needed for an entrepreneur. It discusses the importance of being CORE - curious, open, a risk taker and energized. It also emphasizes working in teams using an adhocracy structure. The document outlines drawing a business plan by analyzing the market and opportunity, developing a strategy and business model, and assessing financial needs. It notes the importance of the management team and securing funding to support the business from seed funding through maturity. The final sections discuss where funding is typically allocated and concluding the overall lesson on entrepreneurship.
11. Team
• Why is the CEO qualified to lead the company?
• Do the strengths and experience of the management team match the goals
and strategies of the business?
• Does the management team have both technical and business acumen?
• Are your compensation arrangements aligned with the goals and
objectives of the business?
• Do you have strategic alliances that give you access to talent that is not
resident in your management team?
• If your management team is not complete, what is your action plan
to add the necessary talent?
• Are the compensation programs competitive enough to attract and retain
the right human resources?
• How will you address the ongoing development needs of your workforce?
• Who are your outside experts and what will it cost to retain them?
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