By Doug Richard

When thinking about how you start your business, getting the right team together will be the most important and the most difficult decision you make.

The reason is simple. No one person has all the skills, experience, contact or reputation that are required to start and develop a business. So, in order to succeed, you will have to form a core team of people.

Before that, however, you can only know who else you need by knowing your strengths and your weaknesses. Having a great business idea does not mean that you have the skills to manage others. The hardest of all your decisions may be to let someone else lead the company you founded.

What does the team need?

First, it needs the ability to sell and the ability to persuade others to buy into your vision.

Second, the team needs the ability to count. The business is managed by managing the flow of cash. It may be the accountant’s job to do your books, but it is your responsibility to understand them so well that you use them to drive the business.

Third, the team needs experience. There are three types: customer experience, product experience and start-up experience. If you are going to sell an Internet service to restaurants, you need experience of running restaurants. If your team has only one or the other, you will either know what product to build or how to build it, but not both.

Fourth, the team needs to have contacts, relationships, a network. Having people who can help you informally or formally will help your business succeed.

Finally, you and your team must be fully aware that starting a business means giving up two things – time and money. It often means working evenings and weekends, and being last in line for payment. Succeeding with an innovation-based company takes everything: all of your time, all your great ideas – and it may take all of your money.

There is no magic formula in building a business. It is like putting together the pieces of a puzzle. But it is worth remembering that the team is the most important piece.

III. Read the article carefully. Then decide whether these statements are true

<== попередня сторінка	\|	наступна сторінка ==>
II. Underline the most suitable noun combination in each group.	\|	Or false.

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