Teaming Flashcards
founding - numbers
overall: 23 % team founders
high techs: 76 % team founders
2 or 3 cofounders
the team is far more important that the idea as people don’t change a fast as ideas
the founder`s dilemma
+ teams o co founders outperform solo founders
- lots of start up`s fail due to co founder conflicts
- half of the projects fail due to team conflicts
team conflicts
- splitting the pie
- personal conflicts
- making strategic decisions
- clear goals all are working towards to
- clear responsibilities for the team members
The three 3Rs in the magic triangle by Noam Wasserman
and team issues
Relationships
friends, strangers, family?
awareness of whom you are funding with and what your history is
Roles Division of labor, positions, skills Decision making Organisation model categorized and clearly defined
Rewards
Splitting the pie
compensation
The Rs
Relationships
friends
closer relationship
ambition and motivation
failure hurts more
strangers
more professional
-> finding the right team member
- trust
- dealing with stressful situations, uncertainty,
negotiations
- salaries
-> don’t choose your parters because of comfort
The Rs - Roles
different departments
functional skill related roles strategy sales finance operations R&D
The Rs - Roles
The Consultant
- constantly analyses the current situation and derives
recommendations
- ability to learn, empathy, apprehension
The Boss
- leads, gives orientation, keeps team together, supports
and motivates
- initiative, risk taking, ability to motivate and to make
decisions
The Artist
- asks non conventional questions
helps to have different viewpoints, impulsive
- creativity, ability to communicate, open, risk initiative, risk
taking, ability to motivate and make decisions
The Maker
- focus on execution, pushes others
- endurance, discipline ability to motivate
The Enthusiast
- brings the fun, is able to inspire
- team worker, optimist, ability to communicate and
motivate
The Organizer
- plans and controls, has the overview
- flexibility, team worker, structure, reliable
The Helper
- always there
- initiative, open, empathy
- > every role of equal importance
- > important that all roles are covered in a founders team
- > executives in sales / marketing / it are really important
- > outsourcing can be a solution
- > is it B2B or B2C?
- > aboard business partners m
The Rs - Roles
the importance of group norms
- psychological safety: feels safe to take risks
- dependability: get things done on time
- structure and clarity: clear roles, plans and goals
- meaning: personally important
- impact: knowing the work matters and creates change
The Rs - Roles
multi faceted characteristics of an effective team
heterogeneous in terms of competencies and roles
-> business acumen (Geschäftssinn) and technical
expert
homogeneous in terms of culture, motivations and
drivers
-> shared vision, working culture and ambitions
The Rs - Rewards
- more than 90% of startups do equity splits
- The founder`s Pie Calculator
-> The numbers are weighted by relative importance of
elements and founder contribution - ESOP = Employee Stock Option Plan
