Behind the scenes #7 | How to plan your financial needs
היHave you ever wondered how much time rowing teams need to synchronise their movements? Or how one team member can affect all the others? And at what point they have the greatest chance of winning races and cups? We are no experts at rowing boats, but we can tell you all you need to know about building teams and effective, efficient organisations. Welcome backstage at VC.Grab an oar and off we go!TDJ Pitango Ventures team
Leverage teamworkTested in battle, open to feedback – these are the qualities we look for in teams we mentioned in previous editions. This time we’ll be working on your team dynamics.Let us begin by saying that the internet pages of most funds, including ours, tend to state that strong teams are in demand. But what does this mean in practice and how to verify such demands? One of the elements which define strong teams are the aforementioned dynamics, by which we mean how you interact with each other.We will take a close, hard look at the map of neurons which connect you, at times when you are taking on new challenges, entering into discussions during our meetings, or when you are creating public media profiles for your startups. We observe how you react to questions, how you answer and what your perceptions are. Who speaks on matters of technology, and who deals with strategies and business plans. And the most important point of our program: we look to see if you come to us as a team.The way organisations are managed is very important to us, because this will to a large degree decide whether you are successful, or whether your team falls apart and all your efforts go to waste. Investing in startups is inherently risky, hence the way individual team members work together is a key factor for the organisation, at the same time reducing risk for VC funds.And trust us when we say that it is difficult to act like a tightly functioning team when every other day you struggle in an authoritarian workplace culture, which leads to friction between you all.
It’s the execution, stupid! Simple and true. Talent in sports, or idea in a startup are probably only around 10-15% of success. The rest is all about execution. And execution is all about the team. That’s why we always try to make sure the team we invest in is functional, efficient and effective. Wojciech Fedorowicz
We think the CEO is the decision maker, right? Wrong! The CEO is the ultimate authority but decisions are made in a way that each member of the team contributes her knowledge and experience and overall we get the full team to buy-in together as a group and swiftly execute the plan.Daniel Star
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