Entrepreneurship Research Guide : Team
This guide is a collaborative effort between the Wisconsin School of Business and the Business Library.
One: Describe who you will need on your team and how it will work
- Can the team execute the business idea you have?
- How are decisions made?
- Can the team pivot (change the business model) if necessary?
Two: Building a team
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Build an advisory board you of people you can ask for insights and help on occasion.
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Look to build a team of 3 to 5 people who have varying experience in industry and different training/skill sets to improve bandwidth. Who else needs to be hired?
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Build a board of directors that can accelerate business development efforts, provide specialized knowledge (e.g. legal expertise), and more. Stay with odd #’s of people.
Suggested readings
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Primer For Building an Effective Board for Growing Startup CcompaniesBy Suren G. Dutia. Ewing Marion Kauffman. Foundation. May 2014.
An effective board, composed of experienced and dedicated individuals from varied backgrounds and skill sets, can be invaluable in guiding and mentoring founders and CEOs in their quest to build a viable business and create value for all stakeholders. The board plays a critical role in charting the strategic direction, assuring accountability, and maintaining good governance.