Originally written by Matthew Cushen on Small Business
Last time I wrote an article about what makes an irresistible team for investors. If you’ve impressed investors enough and successfully raised some cash, the pressure now really starts.
Investors will be expecting you to accelerate your growth and demonstrate some proof points before your next round of funding. So you may be thinking about how to gather more talent around you.
These questions might help you make decisions about talent and team building.
#1 – What are we good at, where are we stinky and what are the gaps?
Discipline yourself (i.e. find some uninterrupted time and be objective) to write down:
Where the real value for the business is generated, where is the value for (potential) customers and what will create a higher valuation with investors at the time of your next round
Other activities that must get done to keep the lights on
Talents that the founders and those already in the business have, and which talents they lack
Where can you develop skills versus where you have no choice but to hire?
This should flush out what valuable skills and talents are missing from the team. A third party, such as an investor director, advisor or friend can