Finding and keeping the right team is one of the toughest and most important tasks you take on as a business owner or entrepreneur. Yet it doesnt always get all the attention it warrants. Business owners focus on the work. In contrast, when investors (Venture Capital groups or Angels) look at a business they are likely to focus more on the team than the business. Why? As Jim Collins substantiated with his Fortune 500 research for his bestseller From Good to Great, its the team that creates and sustains success.
So when youre thinking about the team you want with you, as you build or grow your vision of the business, here are some constructive tips to do it right from the start:
1. THINK FIRST – Its tough for small businesses to think past the next electric bill. But before you hire, think through:
What skills and experience do I need now in that position, to accomplish what, by when?
When were successful (3, 6, 9 months) what skills and experience will I need in that position?
What dont I do well and need somebody else to do better?
What are the characteristics of people whove done well working for me? Done poorly?...