Building your new venture team

Entrepreneurship book outlines the thinking behind constructing the right team.

Conclusion 1 – the structure of the team is crucial to success.Conclusion 2 – consultants and VCs are needed to fill some gaps.

Building your new venture team

Managing Director functions•identifies the mission and targets •enables others to use their skills effectively •motivates the group to keep to the task •clarifies issues and decisions

Building your new venture team

Financial Director functions•forecasts cash flow, controls cash and credit •prepares balance sheets, profit & loss statements and liquidation report •pays salaries and commission •manages ‘bank account’ and security of cash

Building your new venture team

Company Administrator functions•identifies responsible for communications •sets up and maintains systems for recording decisions taken and action(s) agreed •responsible for health and safety •safeguards investors’ rights

Building your new venture team

Communications Director functions•responsible for public relations•play a leading role in promotional activities•develop and maintain relationships with the media•produce a series of press releases

•monitor how your company is perceived by the public

Building your new venture team

Commercial Director functionsSales•analyses the competition and customers •identifies market niches and USPs •helps decide pricing policy •develops and monitors the sales plan •recommends sales methods •develops promotional activity and materials •trains and motivates ‘sales force’

Marketing•undertakes market and consumer research •negotiates cost, price and volume of product •devises and monitors promotion and marketing strategy •monitors customer satisfaction

Building your new venture team

Operations Director functionsPurchasing•identifies and obtains premises •identifies equipment, materials and services required and potential sources of supply •helps make decisions on ‘cost versus quality’ •negotiates and recommends deals to the board •places orders, monitors delivery and quality

Production•contributes to development of a product or service •plans method of production for a product and delivery •balances volume of production / service against demand •advises on estimated costs •trains and manages ‘production team’

Building your new venture team

What features are needed for

MD

Building your new venture team

What features are needed for

MDFD

Building your new venture team

What features are needed for

MDFDCA

Building your new venture team

What features are needed for

MD Comms Dir.FDCA

Building your new venture team

What features are needed for

MD Comms Dir.FD Sales & Mkt Dir.CA

Building your new venture team

What features are needed for

MD Comms Dir.FD Sales & Mkt Dir.CA Ops. Dir

Building your new venture team

It’s time now to build your team