Monday, March 19, 2012

Perhaps the hardest part of forming a successful social venture: building the right team

A social venture thrives off the excitement of the people who dedicate their skills and experience to it. The success is hinged on the genuine passion at play.

While I agree with the five characteristics of a powerful team as highlighted in our lecture notes, I find this week's topic to be a challenging one because it's not only about building the right team but also how to maintain healthy team dynamics. To add to the "five characteristics of a powerful team" as highlighted in our lecture notes, I would add: The willingness of teammates to consistently accept and act on feedback.

In "How to Pick the Right Startup Team" Forbes Magazine highlights that there should be no egos and that "entrepreneurship is about adaptation." The attitude matters a lot, but this topic is challenging particularly because there can be a tradeoff between the characteristics i.e. choosing someone with a complementary skill set but not the right attitude. It's important to have people of varying levels of experience on the team, and certainly people that can think of adaptation as an asset.

Here is the link to the article: http://www.forbes.com/sites/theyec/2011/11/23/how-to-pick-the-right-startup-team/2/

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