BAP #7 Searching for the team

Published July 7th, 2005 edit replace rm!

You’ve all heard the common advice that to startups that you need a good team. I’m sure that is right, however some times and at certain stages that team should consist of just you.

Granted if you happen to have a really good small founding team of really capable people, by all means you should work together. However, don’t go searching for your team unless you have a specific requirement.

Over on Allen’s Blog there is a interesting article
Some Tough Questions You Should Ask about picking the “team”. Go read the full story, but here is the gist of it:

Founders are also “expensive� in terms of equity (usually, and sometimes even rightfully, to reward them for taking the risk in joining a startup). Founders are harder than normal employees to transition out of the Company (not legally, just emotionally: “How can we fire Joe? He’s a founder.) Just like most people (including VC’s), founders usually have skills and experiences that are narrower than they, themselves, believe (even sincerely). And finally, founders don’t always pick their co-founders with a beady, cold-eyed, highly calculating gaze with a tough-minded focus on who can actually make the biggest contribution to the Company. Often, co-founders are picked because they are friends, or like-minded, or “great people, the kind you’d pick if you were in a foxhole under fire�.

He talks about how VC’s analyze the team. This also applies to us bootstrappers and it is certainly a kind of uncommon wisdom that we should heed.

My take on it is stay solo or tiny where each party has a clear role and clear talent to fulfill this role. When you actually feel a specific need that you can’t fulfill in your existing team (or by your self) bring partners in one by one to fullfill the necessary tasks. See for example 6 simple rules for micro ventures for more information on when you should bring further partners in.

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My name is Pelle Braendgaard. Pronounce it like Pelé the footballer (no relation). CEO of Notabene where we are building FATF Crypto Travel Rule compliance software.

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