Assemble Investable Management Team
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.
Can your CEO raise money? |
LSWI WIN Mentor Program |
| Make a realistic assessment of your management and team from an investor point of view | What skill complements do you need at this stage?
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 |