A start-up’s team comprises the founders, employees and other stakeholders who work together to develop and implement the business idea.
The team is particularly important, especially in the early stages of a business. Products, markets and business models can change. A competent and adaptable team can respond to new insights, overcome challenges and drive the start-up’s development forward.
A strong start-up team is typically characterised by:
- complementary professional skills
- a shared vision and clear objectives
- clearly defined roles and responsibilities
- open and reliable communication
- rapid and structured decision-making processes
- Willingness to learn and adaptability
- mutual trust
- constructive handling of conflicts
Complementary skills mean that team members bring different areas of expertise to the table and complement one another effectively. Depending on the business model, the following areas may, for example, be relevant:
| Area of expertise | Typical tasks |
| Product and Technology | Product development, technical implementation and quality assurance |
| Sales and Marketing | Customer acquisition, positioning and market entry |
| Finance and Strategy | Financial planning, business model and financing |
| Organisation and Staff | Team building, processes and corporate culture |
| Industry knowledge | Understanding of the market, the target audience and regulatory requirements |
For start-ups, a well-put-together team offers a number of advantages:
- faster development and implementation
- a better distribution of tasks and responsibilities
- different perspectives when making decisions
- greater capacity for innovation
- greater resilience in the face of setbacks
- greater credibility with customers, partners and investors
- better conditions for growth and scaling
Investors, too, often pay particular attention to the team when evaluating a start-up. In addition to the business idea, factors such as the founders’ experience, the expertise required to cover key roles, and the ability to work together to bring the business to fruition are all relevant.
Typical challenges faced by start-up teams include:
- unclear roles and responsibilities
- differing expectations regarding growth and financing
- uneven workload
- lack of communication or delayed communication
- Disputes over company shares
- a lack of skills in key areas
- heavy reliance on individual team members
- Challenges in the transition from a small start-up team to a growing organisation
Important points should therefore be clarified as early as possible. These include:
- Responsibilities and decision-making powers
- Shareholding ratios and vesting arrangements
- Time commitment of the founders
- Remuneration and other incentives
- shared goals and values
- Dealing with conflicts
- Procedures for the departure of team members
A diverse team can bring together a range of experiences, perspectives and approaches to problem-solving. However, it is not just the diversity of backgrounds that is crucial, but also a working culture in which all team members can genuinely contribute their skills.
A common mistake is to put a team together based solely on personal relationships. Friendship or mutual liking can be a good foundation, but they are no substitute for a clear division of roles, the right skills and shared expectations regarding the start-up’s future.
innoWerft helps founders to identify roles and skills gaps within their team, to structure their collaboration, and to network with experienced mentors, experts, and potential employees and partners.