Summary session 15
Building
a New-Venture Team
A new-venture
team is the group of people who move a new venture from an idea to a fully
functioning firm.Company founders,key employees,the board of directors,the
board of advisers,lenders and investors,and other professionals are the primary
elements involved with forming a new-venture team.A heterogeneous founding team
has members with diverse abilities and experiences.A homogeneous founding team
has members who are very similar to one other.The personal attributes that
affect a founder’s chances of launching a successful new firm include level of
education,prior entrepreneurial experience relevant industry experience,and the
ability to network.Networking is building and maintaining relationships with
people who are similar or whose friendship could bring advantages of the firm.
A
skills profile is a chart that depicts the most important skills that are
needed in a new venture and where skills gaps exist.Finding good employees and
effective new-venture team members is challenging.Founders may draw from their
personal networks to find the needed talent or may ask existing employees for
referrals.
A board
of directors is a panel of individuals who is elected by a corporation’s
shareholders to oversee the management of the firm.It is typically made up of
both inside and outside directores.An inside director is a person who is also
an officer of the firm.An outside director is someone who is not employed by
the firm.When a high-quality individual agrees to serve on a company’s board of
directors,the individual is in essence expressing an opinion that the company
has potential (why else would the individual agree to serve?).This phenomenon
is referred to as signaling.
The
primary reason that new ventures turn to consultants for help and advice is
that white large firms can afford to employ experts in many areas,new firms
typically can’t.Consultants can be paid or can be part of a nonprofit or
goverment agency and provide their service for free or for a rediced rate.
#Binus@Bandung
#creativepreneurship
Gabriela Hartanto
2301851471 (LC02)
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