Sbdc, team presentation
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The document discusses the importance of building a team (TEAM) for a business. It notes that innovation is not about money but people. The agenda discusses stages of team development, why a team is needed both internally and externally, necessary skills, how to find people, needing a leader, measuring objectives, compensation, and triggers for creating a new team like a key loss or major strategy shift. The document emphasizes that a team is needed to accomplish what one person cannot and is a criteria for funding. It defines a team as people coming together for a common purpose with mutual accountability.
![Quote from Steve
• “Innovation has nothing to do with how
many R&D dollars you have. When
Apple came up with the Mac, IBM was
spending at least 100 times more on
R&D. It’s not about money. It’s about
the people you have, how you’re led,
and how much you get it.” [
Fortune, Nov. 9, 1998]
NextLevel UP © NextLevel UP, 2012](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Sbdc, team presentation
- 1. Welcome to: Steve needed a TEAM. Do You? • Today’s session is an interactive one • Discussion about the critical importance of The TEAM • What are you trying to achieve? • Your takeaways … 3 to 5 NextLevel UP © NextLevel UP, 2012
- 2. Quote from Steve • “Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It’s not about money. It’s about the people you have, how you’re led, and how much you get it.” [ Fortune, Nov. 9, 1998] NextLevel UP © NextLevel UP, 2012
- 3. Agenda Topics for The TEAM • What stages are we talking about? • Why do you need one? Internal and External • When do you need one? • What skills are necessary? • Where do you find the people? • Do you need a leader? Who? • How do you know the TEAM is accomplishing its objectives? • How do you compensate the TEAM? • When do you need a new TEAM? NextLevel UP © NextLevel UP, 2012
- 4. TEAM Definition • Two or more persons who come together for a common purpose and who are mutually accountable for results. (Blanchard, Leading at a Higher Level) NextLevel UP © NextLevel UP, 2012
- 5. What stages are we talking about? • Start Up - When its no longer a dream - You have a prototype/ service defined - When you can no longer focus on critical factors, in other words, do it all • Phase 1 growth - second tranche of personal financing - looking for outside funding - generating revenue NextLevel UP © NextLevel UP, 2012
- 6. Why do you need The TEAM? • You can’t do it alone (Steve didn’t) • Think of all the functions in a company • sales, marketing, customer service, operations, financial, accounting, HR, payroll, research, logistics, engineering, legal, purchasing, shipping, receiving ,manufacturing, quality control, inventory management, IT, insurance, … • To achieve your business and personal objectives • Today’s “collaboration effect” • Time moving faster, energy is finite, change is constant • #1 criteria to get VC funding (over and over) • Culture driver, carrier, advocate to the whole organization • To accomplish the 3-5 critical success factors or value drivers NextLevel UP © NextLevel UP, 2012
- 7. When do you need The TEAM? • Now -early stages, more outside members • Always - evolving skills over time - more leadership and “management” - trusted advisors, more sophisticated NextLevel UP © NextLevel UP, 2012
- 8. What skills are necessary? • The Challenge: High Performing TEAM • See Slide # 6 – company functions • Doers and Posers • T – Trust • E – Energy • A – Accountability • M – Metrics NextLevel UP © NextLevel UP, 2012
- 9. Where do you find the people? • People you know, same values • “Your list”, college friends, academia, fellow workers, recruiters, associations, friends of family, social media (referrals or direct), leaders in your industry, trusted advisors, conferences, volunteer organizations, suppliers, customers, competitors … • Important to get the right ones • If a mistake, fix it immediately NextLevel UP © NextLevel UP, 2012
- 10. Do you need a leader? Who? • Yes! Managing egos • Because its not a democracy • Leading Constant Change • Thought leader transition to business leader • The leadership skills will need to change over time/ growth stages NextLevel UP © NextLevel UP, 2012
- 11. How do you know the TEAM is accomplishing its objectives? • First: establish the right objectives • Strategic vs. operational • Systems, processes, resources, training • Measure them: performance and behavioral -requires an excellent data/info system • Review and Reset NextLevel UP © NextLevel UP, 2012
- 12. How do you compensate The TEAM? • Be Real • Consider impact on original funders • Salary, bonus, equity, options, deferred payment • Commission, achievement level payouts, benefits • Non $ - awards, promotions, title, conferences, time off, work/life balance, training/development, company “club”, company events • Culture, respect, acknowledgement, leadership NextLevel UP © NextLevel UP, 2012
- 13. When do you need a new TEAM? • Work in progress (constant development) • Transitioning from thought to business • Key person leaves • Manage the growth • Major shift in your strategy or industry • Succession planning NextLevel UP © NextLevel UP, 2012
- 14. When do you need a new TEAM? -ongoing -succession planning Transition to next stage Major change in strategy Lose a key member NextLevel UP © NextLevel UP, 2012
- 15. MoneyBall Team • MoneyBall NextLevel UP © NextLevel UP, 2012
- 16. LeapFrog Forums Why are we here? It’s the Economy. Rather than simply improve what is, Transitional Change replaces what is with something entirely different. Old Economy Transition State New Economy People + Process + Passion Lessons = PERFORMANCE RESULTS ©LeapFrog Forums, 2011 NextLevel UP © NextLevel UP, 2012
- 17. The Team Common Purpose, Mutually Accountable, Results NextLevel UP © NextLevel UP, 2012
- 18. Thank You Contact Info : wayne@next-level-up.com Cell: 480-365-9902 Did you get your 3 takeaways? NextLevel UP © NextLevel UP, 2012
Editor's Notes
- My backgound, 35 years in IT business, stock trader, consulting Involved in Five start ups .. Mid 20’s as the sales guy, 15 yrs as co-founder up to 20Million, almost went public, merged, LeapFrog, Next level and IES This is a complex subject we could spend an hour per day for one semester to discuss this topic Sanjay and I started working on this in August same time as Steve announced his retirement Takeaway s ; leave here with at least three, if not talk to me afterwards so we can get it up to three
- People you have, leaders ,how much you get it That’s’ what we’re talking about today
- Questions : How many of you have your own business (owners/principles) Size of your organizations (# of people) 1-5, 5-10, 10-20,-20+ How long have you been in business , >10, 5-10, 3-5, 1-3,<1
- Transcends the whole organization from upper levels to the employees Common purpose – outlined, clear objectives, measurable Accountable – one of the biggest issues in companies today, is it a feeling of negativity?, get into that later if we have time, under what skills Results … implies measurable, time line
- Second financing – implies costs Moving from thought leader to business leader How many of you startup, how many phase 1, other
- Steve had Tim Cook COO, operations genius, Jeff Williams, Cook’s new Coo, Scott Forstall – OS and Software Iphone Eddie Cue Internet Services ICloud Phillip Schiller Marketing Early years Wozniak as tech, Jobs as designer (way before his time, what does the customer experience )) Early years (1976) (incorporated in 1977) Ronald Wayne (left b4 Apple incorporated)- experience with dealing with people (Jobs was poor at this) and connections Believe it or not Bill Gates- $150 million when Jobs went back to Apple Pre revenue collaborative research Innovation chart human knowledge doubling every 5 years, moores law (doubling every 2 years) You tube, http://www.youtube.com/watch?v=xT1dFebXTro, CAC sales culture, and a family culture, engaging the spouses, 100% club CAC team of sales rep and tech rep, quite often customer reached out to tech You are managing a company of 85% intangible assets.e.g. when PG bought Gilette Analysts say 65% intangible assets CSF’s –e.g. teen retailer, mall presence teens hang out (social network digitally and human, brand) , right price point, changing trends, customer service/returns (online and in store), otherwise teens will use social media to ruin your brand
- Outside team at the beginning, always communicate , don’t forget about them, if you lose interest, then they lose interest E>G. trusted advisors, insurance, legal from store front to full service e.g. Ronald Wayne with apple at very early stages
- CSF’s – the TEAM that can get these done People with the CSF’s capabilities, define the responsibilities, accountability Know your team during tough times and good times, CAC example Surround yourself with people who have done it b4 Transparency, communication, commitment Has anyone fired anyone before Get the best you can afford People + passion +process = performance Who is the glue/cement Humility Blanchard … ego, servant leadership BALANCE … Short term successes, long term capability building Doers and Posers, Mike rudinsky example, new york VC, need hi levels mgmnt, want 30% of company Trust , (not fear) integrity, transparency, Fred Smith, Fed ex, Bill gates trust/committed/different set of skills Energy – need example Accountability – Question ?needs transparency lets discuss, one of the most important but managed poorly, negatively , creates fear Metrics: right ones, availble to all, transparent, real time, easily reported and understood (dashboard) John bernard’s Business at the speed of now
- School of thought … hire people different than you different skills not different values! Bill Gates About Paul Allen and Steve Ballmer “ Bunch of smart people” Jeff Bezos (Amazon) Apple Tim Cook and Jeff Williams (new COO) both MBA from Duke, note iCloud center in NC Facebook … Mark Zuckerberg and fellow Harvard guys, in long run changes Google, Larry page and Sergey Brin brought in Eric Schmidt Bill and Wayne sales culture, CDC, sales training for 5 weeks, large account marketing Recruiters, Your List, board of advisors, networking, associations particular to your business, volunteer ,conferences Suppliers, customers, competitors Academia, Leaders you respect in or outside of your industry Right ones : otherwise you waste too much ENERGY and Time Fix it – you’re doing yourself, the other person and the company a big favor
- Yes, it may not be you Can you communicate a vision?, do you have a network of business associates? Can you overcome obstacles in any aspect of the business ? Ego, Blanchard, servant leadership, humility, you want people better than you so LISTEN to them Its OK to make mistakes (in front of employees), ask for help Thought to business, where are you on the spectrum? Very few can do both… Jobs was an exception (but he struggled) Emotional and enduring energy to continue vision and passion, also galvanize energy of others (The TEAM) . Real leaders accept the job of recruiting, cultivating, and developing other leaders as priority one, observing team dynamics -7 habits of unsuccessful leaders -when the tough times happen, some tough decisions have to get made
- Commercial as well as personal values, morale and productivity leads to high performing team Attitude Timelines, $ budgets, customer value, Communicating, decision making, timeliness Set the objectives correctly in the first place , a charter Metrics – the M in TEAM E.G.30% rev increase (easy, acct’g system can provide this), first few months 3% M/M on target to 30+%, few months later downhill why … didn’t measure new customer acquisition or customer churn
- Ur not going to get a $100 K guy for $25k + equity, he has to live Equity to TEAM can dilute original investors… not a happy situation Kelleher Southwest airlines, people on front lines “make or break you” … feel like owners Question: is money the main reason stay ? No its # 3 or 4, respect, acknowledgement is #1 Promotions vs. title , title can be a big mistake if that person can’t make the decision eg. VP sales in front of customer Time off kids get sick, people get sick etc be compassionate Conference – Barth example Training: techs eat this stuff up Company Club – everyone and their spouses Company Friday lunches, lunch and learns Alignment with funders (external), equity, salary, tax issues, stock options ,commercial, personal values, awards, coveted company awards Deferred payment Money does not motivate everyone E.G. CAC equity: sales guys wanted it, tech guys on product bonuses, awards key, annual company club
- All the time, work in progress, fire Bringing outside skills in house … need it day to day e.g. sales/marketing, operations To keep the energy, innovativeness, Fun of a startup Sometimes its not new people , it’s the same people growing, getting new skills, can’t change over 30 (CAC example) Major shift in industry : Richard Branson, Virgin records, Apple changed the music business with iTunes Steve Jobs changed the music ,computing, telephone, motion picture Succession TEAM wants to run their own company, TEAM hold your financial future in their hands , you want to stay as CTO, exit strategy
- Just an illustration to remember constantly evolving
- See notes
- Two years (2009 to 2011) of research , over 100 companies through our introductory forums Focus on the arrow … this is the main attributes of a High performing TEAM Steve’s quote: people you have (PEOPLE) , how you’re led( PASSION) , and how much you get it (PROCESSES in place once you get it)
- Simply stated : This is why you need a team: common purpose and who are mutually accountable for results.
- Takeaways and open for questions