3. Introduction 25 years of experience in Technology / Internet sector Last 15 years as an executive and entrepreneur Advisor and Mentor to many emerging ventures in Boston and abroad Blog about innovation and entrepreneurship on www.jeffbennett.com
6. Building A “Start Up” Is Like Building House Blueprint Materials Contractor Site Work Foundation Frame So on…
7. Keys For Building An Organization Strategy or Strategic Direction Values and Beliefs Work Plan and Road Map Resource Needs Organization Structure/Approach Evangelize, Network, Evangelize, Network,Recruit… Reference Checking is CRITICAL!!!
8. Strategy or Strategic Direction Every successful and sustainable venture has a strategy… or at least a strategic direction Strategy for start ups provides focus .. It cant be stuck just in the Entrepreneurs head Important for all involved as a stake in the ground you measure progress from Rooted in the marketplace Team of Founders, Investors, Employees & Partners To serve Customers Work plan or road map is how you execute against the strategy Resource planning comes from the road map …. Human and Capital requirements come form resource planning
9. Values and Beliefs Values guide and sustain society …community …company Entrepreneurship is not a job… it is a pursuit that is all encompassing Every entrepreneur has some set of of values… you want your team to share these Important for initial team … and those that join as you expand the venture
10. Work Plan and Road Map Executing on a strategy or strategic direction just does not happen Every organization needs a work plan for how they will deliver against the strategy Entrepreneurs are creative … sometimes not disciplined … you need a plan! You might be the Entrepreneur … but not GOD! Even with the most creative and entrepreneurial team … all the stake holders need to know what to do Smart people like to be part of the planning… share the results of learning… key to success is a collaborative model on developing the work plan
11. Resource Needs Strategy or strategic direction will yield road map … the Entrepreneur has to determine how to execute on that road map Constant struggle is managing capital outlay, talent and time Every entrepreneur needs resources to implement the plan DO NOT fall into the trap that you have to “know” everything Need to determine the skill sets and amount of resource you need to execute on the plan … develop an open environment with TRUST to collaborate Create many scenarios looking at immediate and near term needs
12. Organizing Resources Organization plans are put in place to execute on the plan today … but you should think for near term too Things to be cognizant of when planning for today and tomorrow: Talent needed Roles and titles Full time / part time / consultant options Technology tools and standards Don’t be stymied by building Rome now… but you have to think about today and tomorrow Evaluate structure, talent and approach quarterly. If it aint working… fix it immediately
13. Evangelize, Network, Recruit As the entrepreneur you have are “Chief Evangelizer Officer”…and more Create or tap into a network … MassChallenge is giving all of an awesome start at this … networking is so important to so many aspects of your business Tap the network for hiring Seek world class talent that fits the plan Remember the “values” Get many people in on the interviewing so you can get full assessment Get to know as much about the candidates as is possible
14. Reference Checking Is CRITICAL Reference checking is hard work…but it is critical to successful hiring… We live in a virtual “MRI” today Ask your candidates for references….call them Ask those references for other references Utilize Facebook and LInkedIn Build a “full 360” on your candidates Hire through trusted networks whenever you can to reduce the risk