Why is this Important? Investors are careful to invest with management teams they trust. Investment is unlikely without credible management; many investors believe the management team is at least ½ of the consideration in an investment decision. Credible management will typically be previously successful entrepreneurs or newcomers whom they believe will be receptive to advice.
|Key Actions||Things to Consider||Tool Kit|
|Pick the correct person to be CEO of the company||Is the CEO investable? Coachable? It is better to have no CEO than the wrong one. Request recommendations from legal counsel, mentors, & others.
Does your CEO have a track record of raising money?
|LSWI WIN Mentor Program|
|Make a realistic assessment of your management and team from an investor point of view||What skill compliments do you need at this stage? Cover the necessary disciplines relevant to development of your product.
Ask advisors and mentors for their help and feedback
|Define your talent requirements and plan to build out team||Do you have a good recruiting/staffing resource(s)?|
|Strengthen your advisors / board (Management and Technical)||The right advisors can be invaluable in helping with both strategy & execution. They also provide a great deal of credibility, both from adding expertise and from vouching for the viability of the venture
Reach out to previously contacted luminaries in your field