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Startup Summit 2012

Startup Summit 2012 . Assembly Rooms, Edinburgh 14 Nov . Presentation by Liz Moody Neontics Ltd. Building Your Team. Liz Moody, Leader of the Pack

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Startup Summit 2012

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  1. Startup Summit 2012 • Assembly Rooms, Edinburgh 14 Nov Presentation by Liz Moody Neontics Ltd

  2. Building Your Team • Liz Moody, Leader of the Pack • Neontics Ltd provides truly client focused practical expertise and facilitation of business owners who want help to build their team, accelerate growth of their customer base, increase their know how, and widen their network of mentors, partners and contacts to tap into specialist support and finance

  3. Myth of the Solo Entrepreneur • The entrepreneur who can do it all is a myth • The most successful companies were NOT built by 1 person - it took 2, 3 or 4 to get them off the ground Product/Service Sales Money

  4. Why do we need teams? • Time - Solo founders take 3.6 x longer to reach “scale stage” v “dynamic duos” • Balance (i.e. business, tech and product) Balanced teams raise more money, get more users and are less likely to scale prematurely • Learning - Founders that learn are more successful – learn from each other and from mentors • Growth & Development - maintain focus on customer acquisition while developing products & features Ref Startup Genome Report 1 2011

  5. When’s the right time? • Too soon and your cash flow can suffer • Too late and your growth prospects and reputation can suffer

  6. Who says we need teams? • Investors - if your ideas haven’t persuaded at least one other person then it doesn’t bode well • Customers - continuity and service • You - no-one is good at everything and trying could be your downfall • Synergy > the sum of the parts

  7. Team is what you do • Collective effort & gain • Mutual support • Exchange • Foundation of trust

  8. It starts with your PASSION (as importantas talent) • We all have within us the drive to do more, become more, for ourselves • Doing something you love, is easier to sustain and maintains your interest and energy. • If you are passionate, attracting people equally passionate to work with you becomes easier • When it’s your “baby” your desire to do everything can also be a great weakness • Passionate people can be taught skills but you can’t teach passion

  9. Motivation & Investment

  10. Team is an action word • It’s not about CV’s and resumés and what you’ve done • It is about how you work together and what you do and don’t do • A clear sense of purpose, shared vision and culture people identify with • Trust

  11. Management Team- recruit for attitude & values • Smart, talented people with a range of skills and preferably more experience than you • Not a 9 to 5 mentality • Respect • Chemistry • Contacts they are willing to leverage

  12. Create a Blueprint Base on Trust Attention to Results Are Accountable Sense of Commitment Deal effectively with Conflict Where you Have Trust Ref Patrick Lencioni

  13. Pro’s & Cons of Friends Let’s Hear it For Friends But can you manage them? You have an inbuilt bias They won’t challenge you You have too much in common They will let you down Can you say what you mean? You’ll be accused of favouritism Someone needs to be the boss and take a lead But do you admire their work? • You have trust and shared history • They understand and think like you • You have many things in common • They won’t let you down • You communicate easily • You can work in harmony • You share everything including responsibility • You admire them as a person

  14. Leading & Developing The Team • Promote the difference you want to make through your vision • Make a connection so people feel they are part of something special • Share your personal ethos • Challenge people to help them grow • Show your appreciation • Create energy and momentum through celebrating even small wins

  15. Get in contact • We’d love to showcase your business and help you to build on its success through our blog • Want to join our team? • Liz@neontics.com • www.neonblog.co.uk • Tweets to @neontics • https://www.facebook.com/neontics

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