Your startup will not be judged by its idea alone. Investors will also want to see the team responsible for bringing that idea to life. If you don’t have a good crew manning the office, it won’t matter how good an entrepreneur you are personally. You will find funding much more difficult to find. Here are five roles you must fill before looking for funding:
1. Technological Expert
Whatever you want to do will involve technology in some manner, either in implementing the idea or in how it will be delivered to your market – likely both. You need to find someone who understands what kind of tech you’ll need, and how advances in your industry will impact your business. You will need this kind of expertise not just to get things off the ground, but to know exactly how to maneuver your company once things are up and running.
2. The Futurist
A startup is all about the future. It’s about knowing how to position an idea so it is constantly relevant to its target market. Not everyone can do this. Enter the futurist, someone who is so in tune with the market that he or she is able to identify not just current customer needs, but future ones as well. The futurist wants to solve problems, problems your customers have, and knows how to align your product so it does that.
3. Head of Marketing
Just because you made a product doesn’t mean people will buy it. It doesn’t matter what industry you are in. Competition is fierce, and only growing fiercer by the day. You need someone on the team who knows how to get the market’s eyes on your product. Without them, people won’t discover your product. It won’t matter how good your offering is or how many problems it solves if people don’t know about it.
4. A People Person
The best part about how the Internet has advanced is that it has made communication easier than ever before. The bad news is that this means customer service is held to a high standard, no matter how small your company is. Whereas older companies could have gotten away with simplistic interaction, your startup will need a dedicated communicator from the very start. Their job will involve making sure that your interactions with customers are as positive as possible.
Additionally, the people person will also help you create relationships with other entities. While networking is also your responsibility as the entrepreneur, you’re only one person. Having someone whose entire job is to essentially make friends for your company will benefit the startup tremendously.
5. An Experienced Hand
Entrepreneurship is a difficult ordeal, one with twists and turns that knowledge can only do so much to overcome. The good news is you don’t need to go into it blinding. Finding and hiring someone who’s run a startup before to serve as an advisor or partner can allow you to skip many problems, simply because their experience will help you through.
Getting funding is a difficult task as an entrepreneur, and even with this team you may find it a harsh ordeal. However, without them, you’re guaranteed not to find interested investors. Get the team together as quickly as possible and you will not only make it easier to find capital, you will ensure that your startup runs smoothly from the start.
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