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Bep class session 11 team
- 2. REFLECTION ON TEAM BY TENURED VC I am fond of quoting that about 70% of my investment decision of an early-stage company is the team. My rationale is simple: everything goes wrong and only great teams can respond to competitors, markets, funding environments, staff departures, PR disasters and the like. More… Mark Suster. 2x entrepreneur Sold Koral to Salesforce Works at GRP partners (VC) Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 3. THE SKILLS YOU NEED Define product Investor relations Customer support Build product Legal arrangements Error / bug handling Sales meetings Marketing Accounting Partnership development Design PR, events Testing Hire, fire, manage Quality assurance Finance management Share the roles based on your skills, experiences, motivations, etc Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 4. THE ART OF THE START - ROLES Business Hacker Artist Hippie Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 5. WHAT CAN YOU OFFER? Salary Legacy / vision Challenging work Options Purpose Titles Shares Flexibility Exposure to people / meetings Bonus Fun environment ? – be creative People have different motivators. Don’t get stuck in the traditional ‘hygene’ factors – ie, salary. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 6. HOW TO FIND THEM? Events, meetups, conferences, startupweekends Other, local platforms, ie Foundable Friends of friends Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 7. ALWAYS PUT THINGS ON PAPER! Responsibilities. Define: Describe role, ensure expectations are aligned. • • • • • • • • People with corporate background, mngmt consulting, etc: BEWARE – THEY MAY BE EXPECTING STHING ELSE Salary Benefits Vacation Hours How to get in contact Working mode Notice period Expenses (computer, phone, lunches, travel, ..) Candidate profile Profile of the ideal candidate. Make a scoring of the candidate against the ideal candidate. Take hiring serious. Take hiring seriously. Hire slow, fire fast. Make sure to put things on paper from the outset. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 8. ‘A’ PEOPLE HIRE OTHER ‘A’ PEOPLE. If you have good people on the team, you don’t need to manage them. They will do the magic themselves. Skill High Low Will Low High Erdem Ovacik – Business Entrepreneurship Project – Spring 2013
- 9. GET TO KNOW YOUR TEAM MEMBERS Erdem Ovacik – Business Entrepreneurship Project – Spring 2013