Team dynamics plays a vital role in Entrepreneurship. Having the right mix of people will help you to execute the vision better.
In essence, an entrepreneurial team feeds on itself. The visionaries among them will provide the inspiration, and they will keep dreaming of new and bigger things while the rest of the team members see the vision and also think of ways of doing things differently (and therefore they too are being entrepreneurs). They do challenge each other from time to time, but keep re-enforcing each other. Mr Inderjit Singh – The Art and Science of Entrepreneurship
On one end, your team needs to consist of visionary people who can plan and grow the business. These visionaries will be able to see how the business works, how and where it should be grown into. On the other end, the execution team needs to be on the same wavelength and they need to be focused to put turn that vision into a successful business.
The leaders and visionaries depend heavily on the execution team and vice versa. They both feed off each other. The visionaries need to lead and inspire the rest and the executors have to translate these visions into a proper business and to keep the company moving. The executors also have to give feedback to keep the leaders in check, and not to let them go off track.
Now look at the people you have on your team and match them to the roles. For the roles in your company, do a breakdown of the job and the type of person you need for the role. Study the traits of the people on the team and look at their experience. See which member of your team can match up to that role. For example, CEOs need to be visionaries, they have to be able to think strategically and have to be able to understand the product and market very well.
In certain cases, you may consider looking externally as well. Also look to see if the candidate is keen on the role and whether they have plans to further their career in that role. If the candidate is not keen on the role, they may get frustrated easily and may not be productive. If the candidate has a plan to be in the same career path as that role in the future, they will work better to prove their worth and to justify their position.
How do you place people?
A partnership or a founding team is like a marriage. You have to complement each other and be flexible when doing work. People placement is key in an organization; being put in positions, which they can excel in and bring benefit to the company. Due to the lack of resources in a start up, people will hold multiple hats, for example, the person managing the technical team could also be involved in operations. Entrepreneurs should be open to taking such roles, as they can increase their experience and knowledge further. They will also be able to understand the business inside out.
It is best to study the traits of the team members and place them in positions where it can help better. A member may be a programmer, but he may have had marketing experience too. If the person can manage, they could also help out in marketing. As there is a lack of manpower, helping out in other areas will really benefit the company.
Entrepreneurs should be ready to take on multiple roles, but if they understand their team’s strengths, they can have people placed properly so that the company will run better. They should also understand that even though they founded the company, they may not necessarily be the CEO. By placing a suitable person for the job, it can greatly benefit the company.
A very famous example; Microsoft Founder Bill Gates stepped down as CEO in January 2000, and became the Chief Software Architect. He knew his strengths were in designing software, and it was better for the company to have a more experienced CEO running the business.
In conclusion, entrepreneurs should look at the benefit of the business as a whole. They should understand that the business is an entity of its own and it constitutes of the people that are working in it, its customers and its owners. Whatever decisions and placements are done should be for the benefit of all.