Episode D6.008 Building a Career

IBGR - RESULTS Radio Network. Everything a business owner needs to start, grow or exit a business. Come grow with us.

Introduction
How to structure your startup as the company grows is as important to your business as your product/service.  

Org structure or none structure has been known to impede the success of a startup.  Owners/Founders must be on the same page through the process or impeding priorities will creep in. 


Show Objectives
Help business owners better understand how to set up the initial structure to get started, however we will discuss incremental changes as needed.  It is important to understand that the beginning may not look like the end product, meaning a year later or five later.  The key is effective communication within the ownership group and to the employee teams. 


Key Issues
Owner/Manager perspective: 

1. create an organizational chart of the company in 5 years,
   
2. create an organizational chart for 1 year, 
   
3. create first draft of the new position descriptions - include tasks, knowledge, experience, skills, certifications, 
   
4. make it public
   

What You Need to Do
Here are considerations for startup founders as they strategize on organizational structure.

Defining roles
Early on in the life of a startup, founders will often fill as many roles as possible to save money and simply get the work done that's on the table. When a company is founded by more than one person, the multiple founders will often have complementary skill sets.

Architecting the structure
Once you have some leaders established, it is critical that you determine the remaining hierarchy (if there will be one) and how you'll delegate tasks. Then, you will need to establish a team structure and how those teams will be led.


Building your team
Obviously, you're not going to grow your team without hiring. As a founder or executive, it's important that you realize you can't do everything by yourself, Simonian said, but it's essential you involve yourself in the hiring process.

Bring in the professionals
Once a company reaches a certain point, founders will need to consider talent to fill specific leadership roles in the company. One of the most important aspects of your business in this regard is legal.

Communicate with the board
A board of directors can be one of your greatest assets as a startup founder. As such, communication with the board is key. Don't wait for board meetings to ask advice or convey new information. The process doesn't have to be formal. Simonian said your communication should be "casual but frequent."

"You should absolutely listen to your team, peers, advisors and supporters, but at the end of the day, the most important person you will have to answer to is yourself, so make sure you are in line with the decisions that are being made for your company," said Amanda Slavin, founder of CatalystCreativ.


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Written by Cedrick LaFleur
“Talk Leadership with Cedrick”

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