Entrepreneurial Team Formation

Forming the team of strong entrepreneurs for the success of the venture. Developing a strong entrepreneurial team requires understanding the nature and extent of the opportunity and matching those characteristics with human resources. The attributes of a strong entrepreneurial mindset are similar for both leader and team, and include the willingness to tolerate risk and inspire creativity. The quality of the entrepreneurial team is a key to a venture’s success. It is very rare for an entrepreneur to build a high-growth venture solo. The entrepreneurial team can successfully fill competency and experience gaps to assist the venture in raising capital and successfully navigating the challenges inherent in fast-growing ventures. The most successful entrepreneurs are experienced in the field; tolerant of risk, ambiguity and uncertainty; motivated to excel; committed and determined; creative; adaptable; and possess leadership and communication skills. The lead entrepreneur is the key to attracting a management team capable of moving the venture to the next level.