Building Your Startup Dream Team
“Dare to lead great” is Teresa Kwon‘s tagline. Why leadership can be daring and challenging is obvious to most founders and entrepreneurs. Teresa shares her insights on finding first team members, transitioning from side hustling to employing people, bringing experts and eventually delegating. This concentrated wisdom can save you time, money and unnecessary headache. Start building your dream team today.
Show Notes:
- [00:56] Creating teams and hiring talent is the single most impactful business decision you make.
- [01:32] Teresa Kwon is the founder of Daringly Great Leadership. She helps businesses scale by unlocking the power of team.
- [02:31] Hiring is a skill that develops over time. Early objections can be finances.
- [03:34] It’s really about finding people who are willing to do it all. You want people as passionate as you.
- [04:08] You want the get stuff done type person.
- [05:49] You want people who care about your values and the kind of company you are trying to build.
- [07:14] If you want someone on board with you, they need money to pay their bills.
- [08:27] Think of your super sharp people as pro athletes who get the best. You’re investing in this person. Equity can be key, but do your homework and be realistic. Make sure that people you give equity to are people you want around for the long run.
- [12:16] Having things on paper will protect the integrity of what you are creating and your friendships.
- [14:05] Create a business entity or LLC that is not you.
- [15:48] You can hire advisers. Surround yourself with experts and mentors. Have a good lawyer and CPA. Have experts who can advise you on the ready.
- [18:09] People who you want to bring on your team. You leave money on the table by elevating people who don’t have the leadership experience you need.
- [20:02] Think ahead. Find a team who can carry you and help you get funding needed to grow.
- [21:01] Your core culture of vision, mission, and values is critical with who you hire.
- [23:48] To distinguish who the right person for your team is measure them against your culture core.
- [25:29] Founder syndrome is where everyone is connected to the founder. As the business grows, hanging out with the founder lessons. The founder may be unwilling to grow with the organization. A divide can be created with the original team and the new managers. Founders need to be willing to let go of the day-to-day.
- [30:49] Trust team members to do the selection process for you. Founders need to let go and stop being the bottleneck.
- [33:18] You will see incredible results when you let go and trust your team.
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