This is MASSIVE. No team is perfect, but thinking critically about the people you bring into your inner circle is critical.
Start by thinking about 2 things:
1. You need to know the people you are kicking this thing off with.
Here are some things you need to consider. I’d even slap these in a spreadsheet for each potential “founder” and make sure you have gotten answers you are satisfied with for each line item below:
What are their drivers?
What are their expectations? (position, money, responsibility, influence, remuneration, strategy)
What are their planned exits?
What is their investment horizon (ie how long do they want to be committed until they exit)
How do they see the organisation in 5 years?
What role do they see themselves doing in 5 years?
You need to be able to articulate / describe their character.
They need to share your values.
How do they approach success?
How do they approach failure? (their own, and someone’s on the team?)
Do they know how to win as a team?
What are their strengths?
What are their weaknesses?
Obviously, if the partner/s you are looking to add to your team is not an old friend, you will need to take a certain amount on trust … but don’t overlook these questions, PLEASE.
2. Your future team mates should complement you from a skills and demeanour standpoint.
You won’t be able to do everything best. You want a team that is 10xing all the areas you don’t 10x! If you are a visionary but a crappy project manager, that’s fine – but make sure you have an outstanding project manager at hand! Or, you know how to make money but you don’t know how to document / track / spend it best – get a finance person to run with that. Or perhaps you aren’t the technical expert in your field, you are the mouthpiece; well, be the mouthpiece, and ensure you have experts around you who love your idea and believe in your vision. Having 3 people who can talk and no one who can work and produce the actual product … that is a massive problem.
I think we will talk about team-building in the future. Lots to talk abt but I’m over my 300 words.