This was a panel presentation I organized, moderated and spoke at the Boston Entrepreneurs’ Network (ENET) in Waltham on March 3, 2009. The panel of serial CEOs, seed and angel investors offered different approaches and strategies to selecting and building the management team for your startup company, reducing attrition and retaining your team through to a successful exit.
Building superior teams is the key element to growth and to funding of a startup company, and never more so than in the current difficult economic environment.
When investors consider your business, it’s often said the three things they focus on are “management, management and management.” Investors invest in people, and it’s the people the management team that must have the skills and dexterity to succeed where others have failed. Seldom is a business plan carried out precisely on plan – there are pitfalls, changes, choices to be made.
Superior teams have the right combination of energy, drive, knowledge, experience and creativity.
Superior teams also have experience and trust from having worked together. How do you build that superior “A” team? How do you retain that management team so you can build a scalable business and achieve funding and commercialization? How do you build superior teams in hard economic times when you are short of funds? These are important questions you need to answer if you envision building a business – or if you already are building a business — a commitment to excellent management is just as essential as functional expertise.
My 12 slides from the presentation are titled – Building Superior Teams: Key to Growth and Funding in your startup company … Lessons learned when you build from scratch), LINK: http://www.boston-enet.org/resources/Documents/Robert%20Adelson%20slides.pdf
If you are involved in recruiting a management team or are considering taking a position in a management team, do not hesitate to call or email me with any questions or issues you may have.