Vfb2012 growing the team nick sturge setsq
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Transcript of Vfb2012 growing the team nick sturge setsq
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The Safest Place to Grow your Business
Growing the Skill Set in an Early-Stage Company
Nick SturgeCentre Director
SETsquared Business Acceleration
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The Safest Place to Grow your Business
If everyone is moving forward together, then
success takes care of itself
Henry Ford
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The Safest Place to Grow your Business
Agenda
• Intro
• The Beginning - Choices
• The Middle - Building, motivating, communicating
• The End - Succession, exits, firing
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The Safest Place to Grow your Business
The Motion Media Story
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IPO
Orange,BT,
Dot com
The Official List & the crash
9/11Headcount
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The Safest Place to Grow your Business
The Beginning - choices
• Understand yourself …– Why? Aspirations. Abilities / Weaknesses. Resources
• Type of business– Lifestyle or Growth?
• On your own?– Pros & cons of starting on your own – Shareholder agreement!– How to find a partner?
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The Safest Place to Grow your Business
Pre-incubation
Company Value (££)
Time
Incubation
Pre-incubation Grow-on
1st mile 2nd mile 3rd mile
It’s a (relay) race not a sprint….
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The Safest Place to Grow your Business
The Middle
Any one can hold the helm when the sea is calm.
Publilius Syrus
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The Safest Place to Grow your Business
DOOM
• The four hats:–Director–Owner (shareholder)–Operator (workforce)–Manager
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The Safest Place to Grow your Business
DOOM
Shareholders (O)
The Board (D)
EMT (M)
Workforce (O)
Investors (shareholders)
Part owner + Director + Manager + Operator = The Founder?
Director + Owner + Operator + Manager
= The Founder
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The Safest Place to Grow your Business
Building the Team
Strategy
Tactics
Delivery
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The Safest Place to Grow your Business
Building the Team
Delivery
Tactics
Strategy
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The Safest Place to Grow your Business
FunctionsSales
Technical
Delivery
Finance
Support
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The Safest Place to Grow your Business
Team Dynamics - balanceProducer
AdministratorEntrepreneur
Integrator
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The Safest Place to Grow your Business
Recruitment
• The challenge of a Techie founder hiring ….• Be wary of hiring friends & family• Better to work with a gap than hire badly• Which are the key hires, and which aren’t• Motivation of candidates• Importance of cultural fit• Technical ability vs. aptitude• Pros & cons of multi-skilling
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The Safest Place to Grow your Business
Recruitment – where from• Networking• Web – eg. GumTree• Agencies• Research – targetted “poaching”• Universities - eg. www.bris.ac.uk/CAS
– Grads – departments directly– Interns– KTPs – eg. www.bris.ac.uk/RED – u/grad projects – departments directly
• Employment Contracts– Incoming employees – restrictive covenants– For your employees
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The Safest Place to Grow your Business
Business Plan Considerations
• If you are not the “2nd mile bod” – be honest– Identify the succession plan
• Identify the gaps• Identify the key strengths– the ability to deal with the unforeseen
• Be realistic about costs and time-to-recruit
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The Safest Place to Grow your Business
Other tools
• Belbin – www.belbin.com - £30– Team roles
• eg. ‘Plant’, ‘Co-ordinator’, ‘Completer Finisher’ etc.
– Work preferences– 360 degree
• Myers-Briggs - $29– psychological preferences of how you perceive the world and
make decisions
• TMS Wheel– Explorers, Organisers, Advisers, Controllers
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The Safest Place to Grow your Business
Motivation
• Communication• Alignment of interests• Pay vs. rewards vs. risk• Praise & acknowledgement• Promotion – pros & cons
Leadership: The art of getting someone else to do something you want done because he wants to do it.Dwight D. Eisenhower
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The Safest Place to Grow your Business
The End
• Planning for exit• Succession planning• Firing– Discipline– Performance– Redundancy
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The Safest Place to Grow your Business
Now for the real story….