From candidates to handshakes
What is the biggest risk in any venture? Hands down, it is attracting and retaining a motivated, competent team. A group of people who trust each other, share the vision and possess a range of skills needed to make a new venture work. Having a team that has worked together in the past is a rare but much-prized feature of any new company.
Recently, I came across an approach that re-creates, to a degree, the effect of such a well-gelled team.
Imagine a venture creation scenario that starts with a high-growth (and, even better, a glamorous) industry, some clearly defined company objectives (things like profit margin, high/low technology and infrastructure investment) and several product concepts for specific market segments. After testing the market and validating your product assumption, you need a team to deliver it all: products, efficient operations and investment capital. There is no business plan yet but this approach creates every function within the company at once. The business plan will be written by a group empowered to run the company.
How do you do it?
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