Nick Sturge - Presentation


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BCS/BEN Tech Startup School Event - Core event: Team. Monday 18th October.

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Nick Sturge - Presentation

  1. 1. The Team<br />Nick Sturge<br />Centre Director <br />SETsquared Business Acceleration<br />
  2. 2. If everyone is moving forward together, then success takes care of itself<br />Henry Ford<br />
  3. 3. Agenda<br />Intro<br />The Beginning - Choices<br />The Middle - Building, motivating, communicating<br />The End - Succession, exits, firing<br />Business plan considerations<br />
  4. 4. Nick Sturge BEng DipIoD MCMI MIET Centre Director<br />BEng in Electronics with Computing Science<br />Career<br />BRI, Scimed(Medical Electronics)<br />ST Microelectronics (incl. Inmos) (Semiconductor)<br />Motion Media Technology (Videocommunications) Co-founder , PLC director, Operations<br />Omnigenix(Consultancy) People, property, funding<br />SETsquared<br />Institute of Directors – Chairman, Bristol Branch<br />West of England Skills & Competiveness Board – Board Member<br />
  5. 5. The Motion Media Story<br />The Official List & the crash<br />Orange,<br />BT,<br />Dot com<br />IPO<br />9/11<br />Headcount<br />
  6. 6. The Beginning - choices<br />Understand yourself …<br />Why? Aspirations. Abilities. Resources<br />Type of business<br />Lifestyle or Growth?<br />On your own?<br />Pros & cons of starting on your own <br />Shareholder agreement!<br />How to find a partner?<br />
  7. 7.
  8. 8. The Middle<br />Any one can hold the helm when the sea is calm.<br />PubliliusSyrus<br />
  9. 9. DOOM<br />The four hats:<br />Director<br />Owner (shareholder)<br />Operator (workforce)<br />Manager <br />
  10. 10. Shareholders (O)<br />The Board (D)<br />Investors (shareholders)<br />EMT (M)<br />Workforce (O)<br />Part owner + Director + Manager + Operator<br /> = The Founder?<br />DOOM<br />Director + Owner + Operator + Manager<br /> = The Founder<br />
  11. 11. Example of Conflict<br />You are a director and shareholder<br />Business has long-term viability & profitability<br />You have 5 employees<br />You get an offer to sell your business to a competitor for a reasonable price (with a good return for you)<br />What is right for<br />You?<br />The Company?<br />The Employees?<br />Other stakeholders?<br />
  12. 12. Building the Team<br />
  13. 13. Building the Team<br />
  14. 14. Functions<br />
  15. 15. Recruitment<br />The challenge of a Techie founder hiring ….<br />Be wary of hiring friends & family<br />Better to work with a gap than hire badly<br />Motivation of candidates<br />Importance of cultural fit<br />Technical ability vs. aptitude<br />Pros & cons of multi-skilling<br />
  16. 16. Recruitment – where from<br />Networking<br />Web – eg. GumTree<br />Agencies<br />Research – targetted “poaching”<br />Universities - eg.<br />Grads – departments directly<br />Interns<br />KTPs – eg.<br />u/grad projects – departments directly<br />Employment Contracts<br />Incoming employees – restrictive covenants<br />For your employees<br />
  17. 17. Team Dynamics - balance<br />Integrator<br />Producer<br />Administrator<br />Entrepreneur<br />
  18. 18. Other tools<br />Belbin – - £30<br />Team roles<br />eg. ‘Plant’, ‘Co-ordinator’, ‘Completer Finisher’ etc.<br />Work preferences<br />360 degree<br />Myers-Briggs - $29<br />psychological preferences of how you perceive the world and make decisions<br />TMS Wheel<br />Explorers, Organisers, Advisers, Controllers<br />Time Intelligence Reports – free trial for BEN members<br />
  19. 19. Motivation<br />Leadership: The art of getting someone else to do something you want done because he wants to do it.Dwight D. Eisenhower<br />Communication<br />Alignment of interests<br />Pay vs.rewards<br />Praise & acknowledgement<br />Promotion – pros & cons<br />
  20. 20. The End<br />Planning for exit<br />Succession planning<br />Firing<br />Discipline<br />Performance<br />Redundancy<br />
  21. 21. Business Plan Considerations<br />If you are not the “2nd mile man” – be honest<br />Identify the succession plan<br />Identify the gaps<br />Identify the key strengths<br />the ability to deal with the unforeseen<br />Be realistic about costs and time-to-recruit<br />
  22. 22. Starting a business on your own?<br />You don’t need to!<br />Established networks <br />general or sector-specific<br />Government (local, regional, national)<br />Business Incubation<br />Your own network<br />FF(F)<br />Mentors<br />Industry peers / contacts<br />Government and non-govt. agencies<br />The Pub / golf course<br />Internal<br />Employees<br />An effective board<br />Your Support Network<br />
  23. 23. Go for it!<br />