Only a good team makes an idea a success
To have the right idea at the right time is a major factor deciding if a start-up is successful but on the long run it’s the team deciding whether the success lasts or not. Especially in the expansion phase a start-up has to prove if it has also the skilled team to grow and learn with its tasks and develop itself further.
How important the right set up for a management is one sees in the high interest of Venture Capitals (VCs) for this issue. The competence of a management is for VCs more important than the potential market growth. The right setup of a management team is therefore central – particularly in the expansion phase. The question though is what factors start-up founders have to pay attention to when it comes to the management set up in order to convince VCs of their firm?
Structure and experience within the team are crucial
It’s the structure and the experience VCs focus on. The team therefore should represent all divisions, in order to harmonize their corporate management and to prepare the start-up for the expansion properly. Furthermore, the more experience – in corporate and HR management as well as in the field – a management already has, the more flexible it is to intuitively adapt to the changing market situation instead of following step by step the business plan.
It is not crucial, that the founders are already familiar with every aspect or division or can handle it solely by themselves. The question is more, if the employees can grow with their tasks and if the founders are aware of their limitations. And much more important, is there a plan how to deal with this lack of experience in the management? Targeted recruiting, coaching or experience exchange can fill this gap. In the HR management – a division which is especially in start-ups often underdeveloped – is experience though also highly important, to compensate the lack of skills in a team. Consultation from the outside thereby can help, to find the right set up for the management in the expansion phase and to persuade VCs sustainably to invest in your idea.
With many years of expertise in executive search Talent Tree can find the right characters fitting to YOUR Startup. We, Talent Tree, combine thereby our knowledge in the Startup-scene with contacts to VCs as well as with our long-time experience in staff recruiting, to provide Startups with comprehensive consultation. We therefore see ourselves not only as an intermediary between ScaleUps and Talents but rather between visionaries and creaters.