{"id":168,"date":"2014-03-20T12:49:33","date_gmt":"2014-03-20T11:49:33","guid":{"rendered":"https:\/\/blog.iese.edu\/entrepreneurship\/?p=168"},"modified":"2015-03-26T14:16:53","modified_gmt":"2015-03-26T13:16:53","slug":"the-key-to-a-successful-entrepreneurial-team","status":"publish","type":"post","link":"https:\/\/blog.iese.edu\/entrepreneurship\/2014\/03\/20\/the-key-to-a-successful-entrepreneurial-team\/","title":{"rendered":"The Key to a Successful Entrepreneurial Team"},"content":{"rendered":"<figure id=\"attachment_175\" aria-describedby=\"caption-attachment-175\" style=\"width: 600px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-175 \" src=\"https:\/\/blog.iese.edu\/entrepreneurship\/files\/2014\/03\/bd_factory.jpg\" alt=\"Dave Packard and Bill Hewlett. Courtesy of the HP Company\" width=\"600\" height=\"340\" \/><figcaption id=\"caption-attachment-175\" class=\"wp-caption-text\">Dave Packard and Bill Hewlett. Courtesy of the HP Company<\/figcaption><\/figure>\n<p><span style=\"line-height: 1.714285714; font-size: 1rem;\"><strong>William Hewlett<\/strong> and <strong>David Packard<\/strong>, who I have had the honor of meeting personally, were two very different people who together created an amazing company called <strong>Hewlett-Packard<\/strong>.\u00a0 The two made up an <strong>entrepreneurial team: a group of entrepreneurs who together launch a new enterprise intelligently combining their capabilities<\/strong>. This is a situation that is becoming more and more frequent.<\/span><\/p>\n<p>However, <a class=\"inline-twitter-link inline-tweet-click\" href=\"#\" onclick=\"inline_tweet_sharer_open_win('https:\\\/\\\/twitter.com\\\/intent\\\/tweet?url=https%3A%2F%2Fblog.iese.edu%2Fentrepreneurship%2Fwp-json%2Fwp%2Fv2%2Fposts%2F168%2F&text=What+is+the+best+way+to+organize+such+a+group+for+effective+functioning%3F+');\" title=\"Tweet This!\">what is the best way to organize such a group for effective functioning? <span class=\"non-dashicons\"> <\/span><\/a>\u00a0 This is a question for which you need to have clear, upfront answers when an <strong>entrepreneurial team<\/strong> decides to launch a venture.<\/p>\n<ul>\n<li><b>Distribute or share work?<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 30px;\"><a class=\"inline-twitter-link inline-tweet-click\" href=\"#\" onclick=\"inline_tweet_sharer_open_win('https:\\\/\\\/twitter.com\\\/intent\\\/tweet?url=https%3A%2F%2Fblog.iese.edu%2Fentrepreneurship%2Fwp-json%2Fwp%2Fv2%2Fposts%2F168%2F&text=What+is+better%3A+to+divvy+up+work+among+many+entrepreneurs+or+for+everyone+to+do+a+bit+of+everything%3F+');\" title=\"Tweet This!\">What is better: to divvy up work among many entrepreneurs or for everyone to do a bit of everything? <span class=\"non-dashicons\"> <\/span><\/a>\u00a0 Obviously, <strong>it is better for each individual to dedicate him or herself to the areas for which they are better suited<\/strong>. However, they should also strive to maximize <strong>information sharing<\/strong> so that every partner has a sufficient level of understanding about all of the company\u2019s different areas and could therefore <strong>competently participate in decision-making<\/strong>.<\/p>\n<p style=\"padding-left: 30px;\"><strong>Often having the two or three partners together can help convey<\/strong> greater seriousness and commitment and also <strong>to arrive at better solutions<\/strong>: an important sale, a financing agreement, hiring of a key person, establishing an agreement or alliance with another company, etc.<\/p>\n<ul>\n<li><b>Conflict or collaboration?<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 30px;\">If the new company is going to have many partners that need to collaborate with each other, sooner or later <strong>conflict will be inevitable<\/strong>. One of them made a decision and the other partner wishes he had been consulted; one thinks that he or she could have contributed in an area that the other sees as exclusively his or hers.<\/p>\n<p style=\"padding-left: 30px;\">Certainly <strong>the partners need to resolve conflict, or better yet, try to avoid it<\/strong>. \u00a0<a class=\"inline-twitter-link inline-tweet-click\" href=\"#\" onclick=\"inline_tweet_sharer_open_win('https:\\\/\\\/twitter.com\\\/intent\\\/tweet?url=https%3A%2F%2Fblog.iese.edu%2Fentrepreneurship%2Fwp-json%2Fwp%2Fv2%2Fposts%2F168%2F&text=The+tension+and+emotion+that+entrepreneurs+work+under+can+often+obstruct+cold+and+fast+reasoning+');\" title=\"Tweet This!\">The tension and emotion that entrepreneurs work under can often obstruct cold and fast reasoning <span class=\"non-dashicons\"> <\/span><\/a>.\u00a0 <strong>The entrepreneurial team\u2019s productivity can improve with swift mediation that avoids or helps to resolve conflict<\/strong>.\u00a0 The instrument to achieve this can be an advisory committee or an investor with some time on his or her hands, with the mutual understanding that he or she continue to develop the business.<\/p>\n<ul>\n<li><b>Business and personal development<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 30px;\">As individuals we evolve at <strong>different speeds in our personal development<\/strong>.\u00a0 Starting a venture requires effort, dedication and flexibility in many areas (compensation, travel, place of residence, etc.).<\/p>\n<p style=\"padding-left: 30px;\"><a class=\"inline-twitter-link inline-tweet-click\" href=\"#\" onclick=\"inline_tweet_sharer_open_win('https:\\\/\\\/twitter.com\\\/intent\\\/tweet?url=https%3A%2F%2Fblog.iese.edu%2Fentrepreneurship%2Fwp-json%2Fwp%2Fv2%2Fposts%2F168%2F&text=Often+not+all+entrepreneurs+are+willing+to+commit+to+the+same+extent+in+all+areas+');\" title=\"Tweet This!\">Often not all entrepreneurs are willing to commit to the same extent in all areas <span class=\"non-dashicons\"> <\/span><\/a>.\u00a0 One team member might be willing to travel on Sunday in order to meet an important client first thing Monday morning, spend Monday night restructuring the proposal and have it signed by Tuesday.<\/p>\n<p style=\"padding-left: 30px;\">He or she may return home only to find out that the other partner took Monday and Tuesday off in order to \u201cenjoy the snow.\u201d\u00a0 Maybe this person believes that \u201cyou only live once\u201d and that \u201cthe company is running well\u201d and that \u201cwe are earning enough.\u201d<\/p>\n<p style=\"padding-left: 30px;\">Meanwhile, the other is thinking \u201cnow is the time to create a great company\u201d that \u201cwe can make a lot of money\u201d and that \u201cit\u2019s now or never.\u201d\u00a0 <strong>From this scenario, it\u2019s evident that there are very different life objectives and therefore, it will be difficult to continue working together<\/strong>. In cases such as this, the possibility of moving forward is untenable; it might be a good moment for those partners who are less ambitious to exit the venture.<\/p>\n<p>What you always need to keep in mind are <strong>the values that should always characterize the entrepreneurial process in the interaction between partners, like generosity, humility and respect.<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>William Hewlett and David Packard, who I have had the honor of meeting personally, were two very different people who together created an amazing company called Hewlett-Packard.\u00a0 The two made up an entrepreneurial team: a group of entrepreneurs who together launch a new enterprise intelligently combining their capabilities. This is a situation that is becoming [&hellip;]<\/p>\n","protected":false},"author":1533,"featured_media":175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[157],"tags":[89755,78228,24282],"coauthors":[],"class_list":["post-168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entrepreneurship","tag-entrepreneurship","tag-entrpreneurial-team","tag-hp","megacategoria-mc-entrepreneurship"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/posts\/168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/users\/1533"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/comments?post=168"}],"version-history":[{"count":8,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/posts\/168\/revisions"}],"predecessor-version":[{"id":315,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/posts\/168\/revisions\/315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/media\/175"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/media?parent=168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/categories?post=168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/tags?post=168"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blog.iese.edu\/entrepreneurship\/wp-json\/wp\/v2\/coauthors?post=168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}