Chapter 7 Building the founding team. The topics discussed in this chapter are: Understand some basic characteristics of the financial markets, understand how risk-free securities prices reflect risk-free borrowing rates, explain how corporate debt prices reflect higher interest rates when a borrower may default, explain investment risk;. | Entrepreneurship Canadian Edition William D. Bygrave, Andrew Zacharakis, Sean Wise 1 BUILDING THE FOUNDING TEAM Chapter 7 2 3 Learning Objectives The Talent Triangle Learning Objective Describe the three elements of the talent triangle. Power of the Team Learning Objective List the benefits of teamwork to entrepreneurs. Where Do You Fit? Learning Objective Explain the various roles entrepreneurs can take in their business. How to Build a Powerful Team Learning Objective Explain how entrepreneurs build successful teams. 3 4 Learning Objectives Bootstrapping: Building The Team Based On Stage-Of-Venture Life Learning Objective Explain how entrepreneurs build teams based on stage-of-venture life. Compensation Learning Objective Describe the various forms of compensation entrepreneurs can offer their teams. External Team Members Learning Objective Describe the external team members entrepreneurs may hire. Keeping the Team Together Learning Objective Explain the issues entrepreneurs face in keeping their team together. 4 Today’s Key Concepts Talent Triangle Why 2 > 1 What to look for in cofounder Boards of Advisors vs Boards of Directors 7 Advantages of a Team Finding Co Founders Bootstrapping Compensation for Founders Dilution Premature Scaling Bottom up vs Top Down Hiring 6 or 9 theory Startup Hiring Mistakes 5 6 Entrepreneurship Is a Team Sport Grow beyond self-employment with the support of a team Team can include partners, employees, advisors, family, vendors, investors Do more with others than you can alone 6 Seven Advantages of a Team 7 7 What Is a Well Rounded Management Team? 8 Considering Your Role 9 What position can you best fill? Don’t be crippled by your weaknesses, but also don’t be oblivious to them either. 9 Staffing Plan 10 Role Primary Duties Person Filling Role When Needed Talent Triangle Product Development Develop prototype Lead entrepreneur Now Operational experience Market Development Customer research Channel . | Entrepreneurship Canadian Edition William D. Bygrave, Andrew Zacharakis, Sean Wise 1 BUILDING THE FOUNDING TEAM Chapter 7 2 3 Learning Objectives The Talent Triangle Learning Objective Describe the three elements of the talent triangle. Power of the Team Learning Objective List the benefits of teamwork to entrepreneurs. Where Do You Fit? Learning Objective Explain the various roles entrepreneurs can take in their business. How to Build a Powerful Team Learning Objective Explain how entrepreneurs build successful teams. 3 4 Learning Objectives Bootstrapping: Building The Team Based On Stage-Of-Venture Life Learning Objective Explain how entrepreneurs build teams based on stage-of-venture life. Compensation Learning Objective Describe the various forms of compensation entrepreneurs can offer their teams. External Team Members Learning Objective Describe the external team members entrepreneurs may hire. Keeping the Team Together Learning Objective Explain
