BCS/BEN Tech Startup School Event - Core event: Team. Monday 18th October.

1. The Team Nick Sturge Centre Director SETsquared Business Acceleration

2. If everyone is moving forward together, then success takes care of itself Henry Ford

3. Agenda Intro The Beginning - Choices The Middle - Building, motivating, communicating The End - Succession, exits, firing Business plan considerations

4. Nick Sturge BEng DipIoD MCMI MIET Centre Director BEng in Electronics with Computing Science Career BRI, Scimed(Medical Electronics) ST Microelectronics (incl. Inmos) (Semiconductor) Motion Media Technology (Videocommunications) Co-founder , PLC director, Operations Omnigenix(Consultancy) People, property, funding SETsquared Institute of Directors – Chairman, Bristol Branch West of England Skills & Competiveness Board – Board Member

5. The Motion Media Story The Official List & the crash Orange, BT, Dot com IPO 9/11 Headcount

6. The Beginning - choices Understand yourself … Why? Aspirations. Abilities. Resources Type of business Lifestyle or Growth? On your own? Pros & cons of starting on your own Shareholder agreement! How to find a partner?

8. The Middle Any one can hold the helm when the sea is calm. PubliliusSyrus

9. DOOM The four hats: Director Owner (shareholder) Operator (workforce) Manager

10. Shareholders (O) The Board (D) Investors (shareholders) EMT (M) Workforce (O) Part owner + Director + Manager + Operator = The Founder? DOOM Director + Owner + Operator + Manager = The Founder

11. Example of Conflict You are a director and shareholder Business has long-term viability & profitability You have 5 employees You get an offer to sell your business to a competitor for a reasonable price (with a good return for you) What is right for You? The Company? The Employees? Other stakeholders?

12. Building the Team

13. Building the Team

14. Functions

15. Recruitment The challenge of a Techie founder hiring …. Be wary of hiring friends & family Better to work with a gap than hire badly Motivation of candidates Importance of cultural fit Technical ability vs. aptitude Pros & cons of multi-skilling

16. Recruitment – where from Networking Web – eg. GumTree Agencies Research – targetted “poaching” Universities - eg. www.bris.ac.uk/CAS Grads – departments directly Interns KTPs – eg. www.bris.ac.uk/RED u/grad projects – departments directly Employment Contracts Incoming employees – restrictive covenants For your employees

17. Team Dynamics - balance Integrator Producer Administrator Entrepreneur

18. Other tools Belbin – www.belbin.com - £30 Team roles eg. ‘Plant’, ‘Co-ordinator’, ‘Completer Finisher’ etc. Work preferences 360 degree Myers-Briggs - $29 psychological preferences of how you perceive the world and make decisions TMS Wheel Explorers, Organisers, Advisers, Controllers Time Intelligence Reports – free trial for BEN members

19. Motivation Leadership: The art of getting someone else to do something you want done because he wants to do it.Dwight D. Eisenhower Communication Alignment of interests Pay vs.rewards Praise & acknowledgement Promotion – pros & cons

20. The End Planning for exit Succession planning Firing Discipline Performance Redundancy

21. Business Plan Considerations If you are not the “2nd mile man” – be honest Identify the succession plan Identify the gaps Identify the key strengths the ability to deal with the unforeseen Be realistic about costs and time-to-recruit

22. Starting a business on your own? You don’t need to! Established networks general or sector-specific Government (local, regional, national) Business Incubation Your own network FF(F) Mentors Industry peers / contacts Government and non-govt. agencies The Pub / golf course Internal Employees An effective board Your Support Network

23. Go for it!