So you have these great ideas that will help rocket your business into the stratosphere of success, right? Now all you need is a plan to make it happen. Entrepreneurs and home business professionals often have the terrific ideas, the unstoppable smarts, and boundless energy. But when it comes to implementing those ideas and actually making them work … well, sometimes it’s not so easy. You need help, lots of help. In this two-part series, we’ll examine some ideas, as offered by the experts, to help make your dreams reality. Building a management team is one of the most important and exciting challenges any entrepreneur undertakes. Surrounding yourself with top-caliber talent sharing your goals and vision brings your business plan to life. Here are some tips on management team building that can help take your business venture to new heights of success. "A key component in translating a great business plan into a successful business venture is utilizing the right talent to execute your strategy," said Lynn-Ann Gries, Chief Investment Officer of JumpStart Inc., the venture development organization behind IdeaCrossing (https://www.ideacrossing.org), a free online resource that connects entrepreneurs with investors. Team member skills and abilities are paramount to achieving your business plan's vision, but it's just as important to consider the chemistry between the people who will make up your team. "It's the thoughtful blending of talent, personality and communication styles that constitute great management team building," said Gries. Central roles entrepreneurs typically fill include: Chief Executive Officer (CEO) - The buck stops with the CEO, who must have a big-picture grasp of strategy and prove skillful at staffing. Chief Operating Officer (COO) - This unflappable operations guru loves details and multitasking . Chief Financial Officer (CFO) - The CFO builds budgets and is master over your startup's financial minutia - something your investors are sure to appreciate. Chief Marketing Officer (CMO) - Business battles are often marketing battles, so make sure you place a competent marketing captain at your brand's helm. Chief Technology Officer (CTO) - Skilled at blending tech trends with business, you need a CTO if your startup relies heavily on technology. If you’re serious about building a management team, these are the roles you’ll need to fill. In the next part of this series, I’ll share with you how to source top talent, according to Gries. |