Running a startup is a team sport, and a strong team is one of the key elements for a successful business. Sooner or later, you’ll need a strong team to succeed. Looking at research and success stories from startups worldwide, a winning team is a crucial factor.
A strong team complements each other, shares thoughts and opinions, has different perspectives but a common goal. Building your winning team can take time and is an ongoing process.
Here are six tips for building a successful startup team:
- Clear Goals and Vision: It’s crucial that everyone in the team knows what you collectively work towards; common goals provide meaning. Define clear goals for the team, preferably “SMART” goals that are measurable and time-bound. Where are you heading and why? Your vision can help unite and inspire the team. Recruit individuals who share your goals and vision.
- Define Key Roles: Determine the roles you need in your team; start by assessing the competencies you already have to identify gaps and needs. Consider differences as an advantage. Try to find team members who complement each other with different skills and personalities for a more efficient and dynamic group.
- Right Person in the Right Place: Ensure that all team members have clear roles and tasks aligned with their skills and potential. It’s crucial that team members feel secure and comfortable in their roles. Motivated employees perform better. When recruiting, consider hiring individuals who share your company’s values and are team players.
- Psychological Safety: For teams to thrive, grow, and be productive, psychological safety is a key factor. It’s about creating an environment where it’s safe to fail, and where trust and respect prevail. Establish a secure and open culture where you can share both successes and mistakes, and where constructive feedback and praise are welcome.
- Motivate and Involve Your Team: Strengthen motivation by acknowledging successes, regardless of size, show appreciation, and involve team members in what is important and interesting for them to know.
- Who Can Help You Reach Your Goals Faster: Your team doesn’t have to be limited to employees; it can also include others who can contribute value to your startup. For example, mentors, other companies, collaborators, contacts in your network, an advisory board, or eventually your board of directors.
* Clarifications:
SMART goals:
SMART is an abbreviation for Specific, Measurable, Acceptable, Realistic and Time-bound goals. This method is used to create clear and achievable goals.
- Specific: Clearly defined and concrete goals.
- Measurable: Goals should be quantifiable and possible to measure.
- Accepted: All involved should agree on and accept the goals.
- Realistic: Goals should be achievable and in line with resources and opportunities.
- Time-bound: The goals should have a clear timeframe for focus and prioritization.
Advisory Board:
An advisory board is a group of external experts and advisors providing guidance to an organization. They offer insights and expertise in specific areas to help the company make strategic decisions and solve complex problems. Members of an advisory board have no formal power over the company’s decisions.
Board of Directors:
A board of directors is a formal group of decision-makers responsible for overseeing and making strategic decisions for the company. The board has formal authority and may be accountable to shareholders. Their roles include appointing and overseeing the company’s management and ensuring the company complies with laws and regulations.
Teamwork makes the dream work!