Great Startup Comprises A Great Founding Team
To build a founding team who believes in your dream and is adventurous and ready for the ride as you are is not easy. The founding team includes the founder and a few other core team members with complementary skills to the founder.
Who’s on the journey with you matters! Every founder of a startup has to have a founding team who shares the same passion. That's what makes a great team. Great teams make great companies.
To build a founding team who believes in your dream and is adventurous and ready for the ride as you are is not easy. The founding team includes the founder and a few other core team members with complementary skills to the founder. This is the group who will build the company. Its goal is to take the original idea and scale it up. The skill sets may differ, but the key idea is that you want a team with complementary skills.
All the years of experience is nil when you are building something completely new. There is a lot of unlearning to be done and then there is this new game of failing every day and getting up every morning and getting ready for the new game and keep doing it every day till you win or you learn new things with every failure.
Everyone has ideas. It’s the courage, passion and tenacity of the founding team that turn ideas into successful businesses. Key attributes expected in a founding team are passion, determination, resilience, tenacity, agility, and curiosity.
I’ve been an entrepreneur for quite some years now, and I’ve learned that the single most important and satisfying thing you can do as an entrepreneur is to build a great founding team. When I was just starting out with my current company, WowVenue, we had to let a lot of team members go because of the lack of passion for the product. The only driving force here is passion where everyone is looking forward to coming to work, and are passionate about what they’re trying to build.
The path of execution starts when the founding team is convinced that they want to add the “wow” factor to their services and scale new industry standards, so superior in fact, that once the marketplace realizes just how great that technology is, customers will clamour for it.
Two years ago when we just had an idea for bringing together all the venues under one portal, to help customers avail bulk rates for their celebrations - birthdays to Shaadis - it was a big task to bring professionalism to the most unorganised market in India. We started working with interns to begin with. They are so full of enthusiasm, open to every idea, and work without complaining till end of day and even later.
There has to be a lot of communication between the team at the end of the day - to get market information, vendors that lack good communication skills, have no price formulations, no system to put in their bookings - everything is probably offline, except the 5 stars none had their systems in place.
More often than not, conditions on the ground will change so rapidly that the need for immediate decisions overwhelms a collective decision process. The founding team are the ultimate true believers in the company and have the vision, passion and skill to make your business soar and may just be the missing ingredient in your recipe for success.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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