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Joe Stafford-Lunch & Learn Presentation February 12, 2016

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Building Your Start Up Team

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Joe Stafford-Lunch & Learn Presentation February 12, 2016

  1. 1. February 12, 2015 Building Your Start Up Team
  2. 2. Agenda • Entrepreneurial Characteristics • Early Organizational Phases • Build a Culture That Can Be Replicated • Investing in Your Team • Closing Thoughts
  3. 3. Entrepreneurial Characteristics • Passionate* • Resilient* • Strong sense of self* • Flexible to adapt to changing conditions* • Vision* • Trust and Loyalty – Sometimes to a fault *Forbes Magazine
  4. 4. In The Beginning…. • Start up phase • Picking your partners – Everyone has partners – Don’t sell yourself short – Shared values • Deal with sensitive issues early – Planning on where you want to go – Vision for the company – Ownership structure – Responsibilities – One person becomes the face of the organization
  5. 5. What’s Next…. • Hopefully growth and opportunity – And challenges • Competition • Systems • Resources • Money • People – The hardest day you work, and each day thereafter, is the day you hire someone
  6. 6. What To Look For in Staff • Talent is important, but not everything – Gifted people are critical – Have to match up with culture • Without the right values failure is just around the corner • What to do when the talent is there but the values are not – If the signs tell you that you are headed to the dump, don’t be surprised when you get there
  7. 7. Loyalty • Loyalty is important, so how do you build it? – Invest in hiring process – Provide opportunities for advancement – Listen – Give staff well-defined areas of authority to make decisions
  8. 8. Trust • Trust is also important, especially if the business is growing rapidly – But it is not everything – Don’t sacrifice trust for values or ability – If you hire the people with the right values then trust won’t be as much of an issue • Key positions – HR – Finance – Outside advisors
  9. 9. Hiring Friends and Family • Sounds like a good idea, but…. – Values first – Then ability and talent – Watch your motives • Ask yourself which is more valuable – The working relationship – Or the personal relationship
  10. 10. As The Organization Grows • Business becomes more complex – Initial staff may be challenged • Grow and advance to meet challenges • Stay where they are (and grow disgruntled!) • People talk – Expect criticism – Can create a toxic environment • HR is there to support the staff – Make sure your attorney puts together some good employment documents
  11. 11. Building Culture • As a leader you set the tone – Your actions will be replicated by staff • Something as simple as the time you arrive • Meetings • Deadlines • Set expectations with staff – Do as I say, not as I do doesn’t work – Clear and concise communication – Written is better than verbal
  12. 12. Investing In Your Team • Lunches, massages, parties – Nothing wrong with these – More external than internal • Ask your staff what motivates them – Not all incentives are cash/earnings based – You might be surprised • Get to know people – Make a habit of taking time out of your day to walk around and talk to people
  13. 13. Summary and Closing Thoughts • Decisions that are made early can have long term implications • Have the difficult discussions early • Plan as best as an you can • Focus on hiring for values first • Stay in touch with initial staff • Focus on culture • Get to know your staff • Don’t ever sacrifice family for work!
  14. 14. Thank You! Joe Stafford jstafford@dataresolution.net Linkedin/in/jmstaff

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