The Entreprenurial Leader and the Team

The team that is choosen to build a business is a crucial piece that will determine the success along with other factors such as finacial backing and the industry selected. You have to build a team of stars and that may cost big bucks that you may not have especailly in the begining stages of your company. So the entreprenuer has to think of innovative and cost effective ways to recruit the best talent to come on board. I am considering looking to recent college graduates that may be agree to a lower pay scale in compensation for a lack of experience. This can also be a high risk seeing that young people are highly energetic, and excited about new ideas but may not necessarily have the proven track record of a seasond executive. I am considering taking on a partner myself that may compensate for my weaknesses being a new entreprenuer. I have networked and come across an potential investor that is interested but I want to present him the best financial picture that will get him hooked on my idea.

Your team is the connection to the success of the business and I feel that my network is solid yet they will not come cheap because they are some of the best in their fields. This will create an air of excellence when providing a service and/or product, however its also good to have a lost coast structure that may yeild similar results. I am also reseaching ways to cut cost such as hiring individuals as an independent contractor and interns so you dont have to worry about paying or things such as benefits.

I think the best solution would be to hire star players in areas I am not proficient in (but still knowledgeble) such as accounting and information tecnology and hire other team players with excelllent potential to be leaders on an executive level and grow together. This will cover all ends and provide a balance of the cost initally spent on aquiring the ounding organizational struture which will change and grow as the business changes and grows.