Startup Wednesday 1: Introduction & Team Building

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Introduction to the course
Entrepreneurial role models
Motivation
Building a team

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  • Discuss amongst teams, then in plenary session
  • What motivates us? Other people, inner drive, inspiring entrepreneurs What gives us confidence? Taking action, learning from doing How do we learn a skill? Practising How do we gain knowledge? Google
  • Startup Wednesday 1: Introduction & Team Building

    1. 1. Session 1 Introduction to the course Entrepreneurial role models Motivation Building a team
    2. 2. Introducing us… <ul><li>John King </li></ul><ul><ul><li>Entrepreneurship Careers Adviser </li></ul></ul><ul><ul><li>Founder, Auvica - video projection and web development company </li></ul></ul><ul><li>Seb Butt </li></ul><ul><ul><li>Training Director, Royal Holloway Entrepreneurs </li></ul></ul><ul><ul><li>UG3 Management student </li></ul></ul><ul><ul><li>Startup experience includes an IT head-hunting agency, a Chinese IT Outsourcer, a Lebanese Café and most recently a Boxing and Mixed Martial Arts gym as a social enterprise. </li></ul></ul>
    3. 3. Introducing you… <ul><li>Interview the person next to you for 2 minutes </li></ul><ul><li>Find out </li></ul><ul><ul><li>Their name and department </li></ul></ul><ul><ul><li>If they have any business experience, or have created/started anything </li></ul></ul><ul><ul><li>What they hope to get out of Startup Wednesdays </li></ul></ul>
    4. 4. Course programme 2pm-4pm in Arts Building S21 Finding role models and teams 20 Oct 1 Generating ideas 10 Nov 2 Planning your first year 24 Nov 3 Branding and building a website 8 Dec 4 Pitching and raising finance 12 Jan 5 Marketing and PR for startups 26 Jan 6 Selling and negotiating 9 Feb 7 Accounting and legal issues 23 Feb 8 Running an office and bookkeeping 9 Mar 9
    5. 5. Who are these people? Next
    6. 6. Sergey Brin Born: Moscow Resident: California Emigrated from Russia at the age of 6. Met Larry Page at Stanford and worked on the project that became Google. Together they founded Google Inc. in 1998. Back
    7. 7. Surinder Arora Born: Punjab Resident: London Joined his parents in the UK at 13. Worked for British Airways, then Abbey Life whilst working as a waiter in the evenings. Launched a B&B to serve staff at Heathrow Airport, which later grew into the 5,500 bedroom Arora chain. Back
    8. 8. Richard Reed Born: Huddersfield Resident: London Met co-founders Adam and Jon at Cambridge University, then went into advertising, before quitting to start Innocent in 1998. Launched in France, Holland & Belgium in 2004 and in Germany, Sweden & Austria in 2007. Back
    9. 9. Sophi Tranchell Born: UK Resident: London Moved frequently with her parents, finally settling in Hammersmith. Sophi helped to launch Divine Chocolate, a Fairtrade chocolate brand, which is 45% owned by Ghanaian farmers. Back
    10. 10. Why did they become entrepreneurs?
    11. 11. Entrepreneurs are happier Source: Gallup-Healthways Well-Being Index, USA, 2009
    12. 12. Q: Who are your entrepreneurial role models? <ul><li>In groups, name </li></ul><ul><ul><li>A famous entrepreneur </li></ul></ul><ul><ul><li>A female entrepreneur </li></ul></ul><ul><ul><li>A social entrepreneur </li></ul></ul><ul><li>What are their characteristics? </li></ul><ul><li>What skills do they have? </li></ul>
    13. 13. How to make an entrepreneur Motivation “ I want to start it” Self-efficacy “ I believe I can start it” Entrepreneurial spark Skills Planning Networking Negotiation Knowledge Co- founders Co- founders
    14. 14. Q: What is the optimum number of founders? 1 2 3/4
    15. 15. What to look for in a co-founder <ul><li>Same vision & motives </li></ul><ul><li>One to build, one to sell </li></ul><ul><li>Intelligence, energy, integrity </li></ul><ul><li>Don’t settle for OK </li></ul><ul><li>Pick “nice” people </li></ul>If somebody you want as a co-founder is already working on a major project, convince them to come on board part-time. When your idea takes off they’ll soon go full time!
    16. 16. How to find a co-founder <ul><li>“ Birds of a feather flock together” so start by looking at your friends, possibly siblings </li></ul><ul><li>Possibly someone in your community, perhaps already involved in business but always looking for the next great idea </li></ul><ul><li>Approach individuals who may be involved in a similar venture or involved in the same industry – this will give you excellent insight as well as the opinions of an industry expert </li></ul><ul><li>Get talking to individuals in the industry where you want to develop your business; they will have a good idea as to whether your business idea be successful or not and if they believe it will be successful they will be quick to raise the idea of collaboration </li></ul>
    17. 17. How to find a co-founder
    18. 18. How to find a mentor <ul><li>Relatives, friends, colleagues, fellow students, lecturers … the options are numerous, but you should be confident in their ability to act as mentor and provide unbiased and honest feedback </li></ul><ul><li>Avoid ‘Yes-people’ …. As nice as these individuals may be, they could be detrimental to your perception </li></ul><ul><li>Angel Investors for example James Caan who runs ‘Hamilton Bradshaw’, which invests millions every year in start-ups and embryonic companies. Angels will provide vital funding as well as guidance and accessibility to those that may otherwise be difficult to contact </li></ul><ul><li>Be willing to offer equity in the business in return for vital funds as well as contacts, advice and guidance – a 45% stake in a million pound business makes far more business sense than a 100% of a business turning over 200k </li></ul><ul><li>http:// www.horsesmouth.co.uk / (free) </li></ul><ul><li>http:// www.rockstargroup.co.uk / (not free) </li></ul>
    19. 19. Belbin questionnaire
    20. 20. Belbin’s model <ul><li>Human behaviour in decision making groups is not random </li></ul><ul><li>A team role is simply “a tendency to behave, contribute and interrelate with others in a particular way.” </li></ul><ul><li>8 distinct roles have been identified </li></ul><ul><li>Most people have 2 or 3 preferred roles </li></ul><ul><li>Most people can be flexible about the roles they adopt – remember that context matters! </li></ul>
    21. 21. Co-ordinator (CO) <ul><li>Team role contribution </li></ul><ul><li>Clarifies goals </li></ul><ul><li>Promotes effective decision making </li></ul><ul><li>Good chairman </li></ul><ul><li>Good listener </li></ul><ul><li>Delegates well </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Can be seen as manipulative </li></ul><ul><li>Delegates personal work </li></ul><ul><li>Often of average intellect and creative ability </li></ul><ul><li>‘ Glory stealer’ </li></ul>Role: To control and organise the activities of the team, making best use of the resources available As a person: Mature, calm, self-confident, fair minded, quietly charismatic M, Gordon Brown, Sven-Goran Eriksson
    22. 22. Shaper (SH) <ul><li>Team role contribution </li></ul><ul><li>Providing direction in discussions </li></ul><ul><li>Objective setting </li></ul><ul><li>Challenging inertia and complacency </li></ul><ul><li>Leadership </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Argumentative </li></ul><ul><li>Not always likeable </li></ul><ul><li>Prone to irritation </li></ul><ul><li>Hurts people’s feelings </li></ul><ul><li>Bullying </li></ul>Role :To give shape and form to the team’s activities As a person: Outgoing, dynamic, challenging, has drive and courage Gordon Ramsey, Arnold Schwarzenegger, Margaret Thatcher
    23. 23. Plant (PL) <ul><li>Team role contribution </li></ul><ul><li>Creative genius </li></ul><ul><li>Imagination </li></ul><ul><li>Focus on major strategic issues </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>‘ Up in the clouds’ </li></ul><ul><li>Inclined to ignore practical details </li></ul><ul><li>Ignores goals </li></ul><ul><li>Overly strong personal ownership of ideas </li></ul>Role :To act as a prime source of ideas and innovation for the team As a person: Individualistic, intellectual, serious minded, unorthodox, creative Q, Alan Titchmarsh, J K Rowling, Justin Hawkins
    24. 24. Resource Investigator (RI) <ul><li>Team role contribution </li></ul><ul><li>Makes and develops new contacts </li></ul><ul><li>Explores new opportunities </li></ul><ul><li>‘ Fixer’ </li></ul><ul><li>Maintaining harmony within team </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Rapid loss of interest </li></ul><ul><li>Relax when pressure is off </li></ul><ul><li>Over optimistic </li></ul><ul><li>Poor follow-through </li></ul>Role: To explore outside resources and develop contacts that may be helpful to the team As a person: Enthusiastic, extrovert, communicative, good under pressure Richard Branson, Anita Roddick, Ruby Wax, ‘Del Boy’
    25. 25. Implementer (IM)* <ul><li>Team role contribution </li></ul><ul><li>Organising </li></ul><ul><li>Dealing with practical details </li></ul><ul><li>Planning - turning strategies into actions </li></ul><ul><li>‘ Workhorse’ </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Inflexible and unresponsive to new ideas </li></ul><ul><li>Unconstructive criticism </li></ul><ul><li>Obstructing change </li></ul>Role: To translate general concepts and plans into a practical working brief and to carry out that brief in a systematic fashion. As a person: Disciplined, reliable, conservative, hard-working, predictable * Sometimes also called ‘Company Worker’ Charlie Dimmock, David Beckham, Scotty (Star trek)
    26. 26. Monitor Evaluator (ME) <ul><li>Team role contribution </li></ul><ul><li>Seeing and judging a range of options </li></ul><ul><li>Critical thinking </li></ul><ul><li>Developing ideas to fruition </li></ul><ul><li>Stopping unsound ideas/approaches </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Lacks drive and ability to inspire. </li></ul><ul><li>Overly critical </li></ul><ul><li>‘ Punch ups’ with Plants! </li></ul><ul><li>Cynicism </li></ul>Role: To analyse ideas and suggestions both from within and outside the team and to evaluate their feasibility and practical value in terms of the team’s objectives. As a person: Highly intelligent, sober, strategic, critical, sceptical Tony Benn, Jeremy Paxman, Simon Cowell
    27. 27. Team Worker (TW) <ul><li>Team role contribution </li></ul><ul><li>Counsellor and conciliator </li></ul><ul><li>Improves intra-group communication </li></ul><ul><li>Fostering a sense of team spirit </li></ul><ul><li>Building on suggestions </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Indecisive </li></ul><ul><li>Competing for status </li></ul><ul><li>Ostentatious behaviour </li></ul><ul><li>Avoiding ‘pressure’ situations </li></ul>Role: To help individual members to achieve and maintain team effectiveness As a person: Socially oriented, mild, likeable, sensitive, perceptive Mo Mowlam, Sharon Osbourne, Matthew Pinsent
    28. 28. Completer Finisher (CF) <ul><li>Team role contribution </li></ul><ul><li>Following through </li></ul><ul><li>Quality control, attention to detail </li></ul><ul><li>Providing a sense of urgency </li></ul><ul><li>Safety net, spotting omissions </li></ul><ul><li>Possible weaknesses </li></ul><ul><li>Worrying too much </li></ul><ul><li>Perfectionism </li></ul><ul><li>Losing sight of the overall plan </li></ul><ul><li>Negative thinking </li></ul><ul><li>Obsessive behaviour </li></ul>Role : To ensure that the team’s efforts are as near perfect as possible and that nothing gets overlooked As a person: Conscientious, orderly, anxious, painstaking Miss Moneypenny, Jonny Wilkinson, Paula Radcliffe
    29. 29. Task People Ideas The Team Role Triangle Completer Team Worker Implementer Shaper Monitor Evaluator Plant Resource Investigator Co - ordinator

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