A big part of the success of your entrepreneurial venture will be the team you put together. Your team can contribute a number of things including knowledge, new ideas and funding. When you decide on who to include on your team, you look at whether or not your personalities are compatible, what that particular person has to offer and whether or not you’d like them to have a stake in your business.
When you are asked to be a part of a team however there are also considerations to make. After all you’re being asked because you have something that the business needs, but does the business have what you need?
At the most basic level you need to decide if you and the remainder of the team get along. If you don’t like them, you can’t work with them. You don’t necessarily need to be the best of friends, but you do need to be able to have a strong and functional working relationship.
You also need to consider the viability of the ideas that are being proposed. Is there a business plan to support the idea? Has it been tested? Does your instinct tell you that the idea has potential? If you don’t think it’ll work then why commit yourself?
The next thing to think about is your expected contribution to the venture. Why does the business want you on board and what do they want from you? By making these expectations clear from the beginning it can help you plan how exactly you’ll go about meeting them. Though your role might change, it at least creates a standard by which you can be assessed.
Last but not least, what will this partnership mean for you? Will it have a positive or negative impact on your reputation and credibility, outside of the business? Is there a conflict of interests? How does it impact your other goals and commitments? Are there potentially harmful legal and financial implications of becoming a part of the team?
Joining a team can be an extremely rewarding and fulfilling process and it is truly an honor to be considered as someone who can make a substantial contribution to a business team. It isn’t however a decision to be taken lightly.
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