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Building a new venture team
 

Building a new venture team

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Building a new venture team

Building a new venture team

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    Building a new venture team Building a new venture team Presentation Transcript

    • 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 functions
      • Sales
      • 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 functions
      • Purchasing
      • 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 MD FD
    • Building your new venture team What features are needed for MD FD CA
    • Building your new venture team What features are needed for MD Comms Dir. FD CA
    • 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