What should an ideal founding team look like?

An ideal founding team is one that covers all the important components of the ‘business’ around the idea or concept that the startup is working on.

team

In most cases, people start ventures with others who have a passion for similar concepts or opportunities. And that’s a great starting point. However, whenever possible, complementarity of skills is better than all co-founders with similar skill sets and experiences – one engineer + one marketing person + one designer.

As you start building a larger team  (you take in more co-founders or members of your early management team), you need to identify the various areas that your startup will need to deliver on and then identify the team requirements.

Focus on the critical areas. Get people who can multi-task. Get people with some experience in different aspects of business, and not just their immediate area of expertise.

Passion and commitment is critical at a startup. When finding a co-founder or early team members, also evaluate ‘why they want to join you’ rather than just ‘what are their qualifications and experiences and what do they know that will be useful to my startup.’

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Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

1 thought on “What should an ideal founding team look like?”

  1. In fact….the why’s of joining your venture I think is more important than the what’s that they bring to the table, especially would matter a lot in the long run.
    At the beginning stages I guess , taking in people who inherently possess traits that go along your corporate culture is so much more important than the actual skill set that they might possess…..as the latter can always be acquired, trained!?

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