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Business MAster classes Growing the Team
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The Safest Place to Grow your Business
Growing the Skill Set in an Early-Stage Company
Nick SturgeCentre Director
SETsquared Business Acceleration
The Safest Place to Grow your Business
If everyone is moving forward together, then
success takes care of itself
Henry Ford
The Safest Place to Grow your Business
Agenda
• Intro
• The Beginning - Choices
• The Middle - Building, motivating, communicating
• The End - Succession, exits, firing
The Safest Place to Grow your Business
The Motion Media Story
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Orange,BT,
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The Official List & the crash
9/11Headcount
The Safest Place to Grow your Business
The Beginning - choices
• Understand yourself …– Why? Aspirations. Abilities / Weaknesses. Resources
• Type of business– Lifestyle or Growth?
• On your own?– Pros & cons of starting on your own – Shareholder agreement!– How to find a partner?
The Safest Place to Grow your Business
Pre-incubation
Company Value (££)
Time
Incubation
Pre-incubation Grow-on
1st mile 2nd mile 3rd mile
It’s a (relay) race not a sprint….
The Safest Place to Grow your Business
The Middle
Any one can hold the helm when the sea is calm.
Publilius Syrus
The Safest Place to Grow your Business
DOOM
• The four hats:–Director–Owner (shareholder)–Operator (workforce)–Manager
The Safest Place to Grow your Business
DOOM
Shareholders (O)
The Board (D)
EMT (M)
Workforce (O)
Investors (shareholders)
Part owner + Director + Manager + Operator = The Founder?
Director + Owner + Operator + Manager
= The Founder
The Safest Place to Grow your Business
Building the Team
Strategy
Tactics
Delivery
The Safest Place to Grow your Business
Building the Team
Delivery
Tactics
Strategy
The Safest Place to Grow your Business
FunctionsSales
Technical
Delivery
Finance
Support
The Safest Place to Grow your Business
Team Dynamics - balanceProducer
AdministratorEntrepreneur
Integrator
The Safest Place to Grow your Business
Recruitment
• The challenge of a Techie founder hiring ….• Be wary of hiring friends & family• Better to work with a gap than hire badly• Which are the key hires, and which aren’t• Motivation of candidates• Importance of cultural fit• Technical ability vs. aptitude• Pros & cons of multi-skilling
The Safest Place to Grow your Business
Recruitment – where from• Networking• Web – eg. GumTree• Agencies• Research – targetted “poaching”• Universities - eg. www.bris.ac.uk/CAS
– Grads – departments directly– Interns– KTPs – eg. www.bris.ac.uk/RED – u/grad projects – departments directly
• Employment Contracts– Incoming employees – restrictive covenants– For your employees
The Safest Place to Grow your Business
Business Plan Considerations
• If you are not the “2nd mile bod” – be honest– Identify the succession plan
• Identify the gaps• Identify the key strengths– the ability to deal with the unforeseen
• Be realistic about costs and time-to-recruit
The Safest Place to Grow your Business
Other tools
• Belbin – www.belbin.com - £30– Team roles
• eg. ‘Plant’, ‘Co-ordinator’, ‘Completer Finisher’ etc.
– Work preferences– 360 degree
• Myers-Briggs - $29– psychological preferences of how you perceive the world and
make decisions
• TMS Wheel– Explorers, Organisers, Advisers, Controllers
The Safest Place to Grow your Business
Motivation
• Communication• Alignment of interests• Pay vs. rewards vs. risk• Praise & acknowledgement• Promotion – pros & cons
Leadership: The art of getting someone else to do something you want done because he wants to do it.Dwight D. Eisenhower
The Safest Place to Grow your Business
The End
• Planning for exit• Succession planning• Firing– Discipline– Performance– Redundancy
The Safest Place to Grow your Business
Now for the real story….
