Founders need to build the cultural foundation before building the product! Building the right team is more important than just any team.

Today's Quote:

“Alone we can do so little; together we can do so much” ― Helen Keller

Show highlights:

  • The importance of taking the time to select the right team
  • Recognizing the team challenges
  • How to set the right foundation for building a great team

Challenges we see with teams:

  • What you really need in a team...Taking anyone is not the right thing to do 
  • Hiring anyone or for skills dramatically increases the likelihood of failure.
  • Founder need to develop their muscles to make smart hiring decisions
  • The foundation- transparency & culture
  • Purpose- What's in it for me?
  • How and who makes decisions?  
  • Most importantly, How does the team solve problems?
  • Develop the EQ to have the difficult conversations

Framework for Building the Right Team from the Beginning:

  • Establish mission, vision & values (as a team)
  • Communication standards
  • Foster transparency
  • Business Model Canvas (product driven)
  • Establish process
  • Define who you are BEFORE you make your first hire
  • Only hire people who mirror your core values and align with your vision
  • Great things often come out of conflict

Takeaways:

  • Culture first
  • Transparency
  • Hire people who will take you where you want to go

Melinda Kim is the Executive Director, co-founder of PeopleSpaceOC, an incubator and workspace located in Irvine, Ca. She is a proven executive/entrepreneur who facilitates collaboration and innovation between developers and business entrepreneurs from around the world.

Aside from her responsibilities, Melinda is also a Startup Weekend Facilitator and NASA Space Apps Lead. She specialize in Statistics Driven Product Analysis, Business Strategy, Growth, Community and Social impact.

 

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