Startup Team Development, for the Startup America Learning Series
Startup Team Developmentfor the Startup America Learning Series
Intro: Founder Training Center• The Founder Training Center helps emerging entrepreneurs and business owners exceed the $100K and $1MM revenue milestones through engaging, interactive learning experiences that sharpen business skills.• Founders at our regional incubator, Portland Ten, have generated over $20MM in revenues and funding in the past 2-3 years.• Alumni companies of Founder Training Center’s Marathon and Sprint programs include ShopIgniter, Night & Day Studios, The Good, Plexus Engine, Alma Chocolate, Bunk Sandwiches, Taplister, and many more.
Intro: Carolynn Duncan• Carolynn Duncan is an expert in startup management; the CEO of Founder Training Center and founder of Portland Ten, a regional incubator in the Northwest whose alumni have generated more than $20MM in revenue and funding in the prior 2-3 years.• Prior experience at a venture capital fund (Epic Ventures), entrepreneur centers (Eastern Idaho Entrepreneurial Center), seed fund (Provo Labs), speedpitching events (FundingUniverse), micro-incubator (Hundred Dollar Business), and as a team member of tech startups (TagJungle).• Carolynn is also the founder of Social Venture Society, a private forum which explores social venture capital and impact investing, and is in the process of developing a social venture fund. She also works with at-risk youth as a Big Sister for Big Brothers Big Sisters.
Today’s Webinar Startup Team Development• Why the team is so critical• Review 3 key roles: management, staff, advisory• Overview communication & documentation• Discuss simple tactics for team management
It’s All About The Team“The team is 70% of why a venture capital deal does, or does not, happen.”-Bob Pothier, venture partner at EPIC Ventures
The Ideal Team Advisory Management Employees/Staff/Contract
The Ideal Team Industry Strategy/Experience Money/Rolodex Product CEO VP Biz DEvDevelopers Ops Sales/Mktg Service Prov.
Where Are The Gaps on Your Team? Industry Strategy/Experience Money/Rolodex Product CEO VP Biz DEvDevelopers Ops Sales/Mktg Service Prov.
AdvisorsExperiencePerspectiveAccountabilityCEO support/advisingFinancial accountabilityConnectionsFunding/FundraisingStrategic direction
ManagementC-level, “architect”-talent talent in Exec/Biz Dev,Product, Sales/Marketing, Ops, FinanceHeavyweight contributorsManagement experience, industry connectionsAble to build a process from the ground floor,hire additional employees, make improvementsFounder/Founding employee statusEquity compensationCo-decision makers, rapport, share control
StaffEmployee, “programmer/hacker”-talent in Sales,Marketing, Product, OperationsMid-weight contributorsAble to be managedSome experience, but not expert or highly connectedAble to withstand startup environment, manage riskAble to follow an already existing process or make smallimprovements to an existing oneEmployee/contractor statusCash compensation, standardized schedule/roleNon-decision maker, maintain good employee habits
CommunicationWeekly team meetingsCheck in calls, emailsStaff mailing listAddressing challenges specifically and withoutdelayDon’t keep bad news to yourself, be proactiveand factual in what is happeningProvide team with frequent updates on strategyas appropriate
Some Team Mgmt Tactics• Clarify roles via verbal conversation & written documentation• Identify team needs & meet them consistently• Establish clear schedules, compensation structure & pay dates• Have a regularly scheduled team meeting/update• Add to the team’s “morale bank” regularly– team parties, 1-on-1 meetings, perks & fun• Meet 1/x month or 1/x quarter w/ advisors• Always take the hit first, and address team issues privately & specifically when needed
Checking In• Sound familiar?• How close is your team to meeting this structure?
Recap Team Management• Overviewed basic team architecture• Gauge gaps on your team• Review some simple team management tactics• Next steps: construct a simple org chart with basic roles/resp, compensation, team management structure