External – Partnerships
Whether it be established industry heavyweights, critical distribution channels, specialized manufacturing partners or mandated government regulators, there are typically a number of entities external to your company that will play a key role in your success. Understanding who these players are and creating a strategy to introduce and align yourself with them is critical from the outset.
Describe two or more key partnerships that will be important to the future of your venture and your strategy towards each as far as attracting and aligning their participation and cooperation.
Internal – Key Hiring Plan
It is essential to envision and map out the critical roles within your organization and understand how to prioritize the human resources that will be required as you launch, establish and then scale your business. Is your competitive advantage based in technology? Sales? Service? Do you train that competency or hire experience? Which roles are best suited for core team members, which can be outsourced?
Describe two or more of your first key roles that will need to be filled in your start-up, when you will need that expertise and what key qualities and characteristics will influence your hiring.
Personal – Gaps in skill sets
As we will explore later in the course, honest introspection into your own skillset and experiences will inevitably lead you to realize that there are gaps in what your leadership can bring to the organization. Working to balance out your own leadership style with the resources around you is essential in building a culture and a proficiency that can navigate the entrepreneurial landscape. Are you not a numbers person? Naturally introverted? An aggressive risk taker? Your organization will benefit from a mix of strong counterbalances to your own leadership character.
Describe two or more character traits that can be enhanced, complemented or offset by the addition of board members, key hires or advisors
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