It takes passion to start up and convert your idea into a moneymaking business. However, passion alone is never sufficient to succeed in a business. It is people that make business happen; the ‘right’ kind of people.
The core team plays a key role in shaping the future of a startup. It is the moot point that sets the course for the future. Hence, it is imperative that the founding team comprises of people with the right credentials, zest and attitude since they serve as role models for the rest of the team to follow.
The founder or the core team should ideally have the following qualities:
They know how to think long term and can develop a rock solid vision for the company. They have a clear objective with regard to growth and how to take the company forward. They are able enough to provide insights with a panoramic view of the business and know how to meticulously plan long term. They are innovative and have a diverse view with regard to business and its growth.
When starting up, you most certainly need a visionary to provide direction to the team at every stage.
Their key attribute is that they are good with money. They know how to strategically invest and will help the startups keep expenses under control. The right people who specialize in money management can help straighten up your sales strategy and attract money from various sources. They know their numbers and know how to play well with them. Having a golden goose in the company certainly multiplies the chances of success manifold.
Such people have the knack of knowing just what it takes to bring the best out of everyone. They have great interpersonal skills and understanding of what motivates others and can put their influencing skills and tact to good use in the best interest of the business. Be it managing a team to deliver the desired results, to influencing a prospective client or accomplishing some liaising work, they are the go-to people.
These people have probably been on the other side and handled all aspects of running a business, either as an entrepreneur themselves or as a manager. This is a definite advantage because not many first time entrepreneurs know how a small decision can impact the entire business. Their insights can, therefore, be really handy for a startup.
The connector strategists
The mind of the strategist can create what is important and destroy what is hampering the progress. They bring growth by analyzing every process and tweaking it to it optimum levels. They are capable of creating new processes and strategic goals of the business that help you leapfrog. Without a strategist, your business will lose its sense of direction to proceed in the chosen path. You will get a stepwise heads up on how to go about implementing your business goals. Whether it comes to product launch or sales strategy, these people specialize in how to make a business goal effective and see to its end. They are the geniuses that know to get to the bottom of things and choose the right method to achieve a business goal. They are the experienced insiders who understand the landscape of marketing and sales. They are communicators and connectors who know how to connect you to diverse people to help your business grow.
The core team forms the foundation on which the startup rests. A mix of people with the right expertise, energy and attitude is what is needed to ensure that things fall in place as planned in order to make the vision come alive.
Guest Post by Vikram Upadhyaya, Chief Mentor & Accelerator Evangelist at GHV Accelerator