This is the fourth post in my five part guide on how to launch a startup in high school. In this post, we will dive into the specifics of startup team building.
Now that you’ve taken the steps to make sure you have a solid idea and a clear plan of action, it’s time to look at the team-building process.
Do you really need a team to begin with?
This is probably the most important question to ask yourself before going any further.
If you followed the fourth step of the previous post in the guide, you should have a good idea about any skills that you’re missing that are necessary for your startup.
If your skillset perfectly aligns with the needs of your startup, congratulations! You can go ahead without worrying about building a team.
However, if you’re missing some crucial skills or strengths, you have two options going forward.
What to do if you’re missing a crucial skill:
A) You can take the time to learn the skill.
This works best if it’s a specific skill that can be learnt quickly. For example, learning how to use a piece of software.
This is not a good approach if it’s a general skill you’re missing, such as being good with numbers, being good with computers, or being good at design.
B) You can have someone else fill that role.
If the skill you’re missing falls under the second category, you’re going to want to look for someone to help you out.
It’s common to see 2 person startups where one is the technical co-founder, working on the actual product itself, and the other is the non-technical co-founder, who works on the business and creative side of things.
The pros and cons of taking on co-founders:
Pros –
- You’re more likely to remain motivated.
Having someone else be invested in the project will help prevent you from slacking off and you both can keep each other in check! - You’ll be able to get more done in less time.
Delegating tasks based on each person’s strengths means getting things done efficiently and effectively. - You’ll be able to evaluate ideas from multiple perspectives.
Having multiple eyes on your product means you’re more likely to spot errors and gain feedback.
Cons –
- You’re likely to have clashing opinions.
You’re going to end up not seeing eye to eye on a lot of things, and as a result, it might cause arguments and discord.
Working on good communication skills and ensuring that everyone is heard is very important. - Ego can get in the way.
I’ve noticed this a lot in high school startup teams. You and your co-founders are still young, and consequently, power struggles may ensue.
It’s important to keep your ego in check and value everyone’s contributions. - Dividing potential revenue can tear teams apart.
Many teams will spend time arguing about revenue split and equity before they even get started on their business!
While it’s important to establish clear roles and expectations, you must be wary of falling into the trap of arguing over who deserves a larger share of the profits.
Tips for building your startup team:
The best way to find people to join your team is by looking around you. There are probably students in your school or class that would fit the role you’re looking for.
The process of startup team building can make-or-break a startup.
- Keep the team size small.
This will help keep things simple. The smaller the team, the easier it is to communicate and align everyone with your startup’s vision.
Teams of 2-3 are ideal, and I would strongly advise against any a team of more than 4 people. - Set clear roles.
While it’s common for startup founders to wear a lot of hats, it’s important to set clear expectations for each team member.
This way everyone knows what part of the business they’re accountable for.
The 3 main roles I feel are essential to any startup are :- The “business” person.
Someone who is good with finances, business development, networking. They will be in charge of crunching numbers and scaling your business. - The “creative” person.
Someone who is good at writing, design, video etc. The more flexible, the better. They will be in charge of writing out all your copy, company branding, marketing and more. - The “technical” person.
This is more applicable to software-based startups but it is a good role to fill for any team. This person is going to be in charge of the actual creation of your product, setting up the website, creating software to help you be more efficient and so on.
- The “business” person.
- Make sure that there are no clashing personalities.
If two team members don’t get along, prepare to spend more time settling disputes than working on your business.
It’s important to make sure that everyone works well with each other, and it’s something you should look out for while considering potential co-founders.
When your business is still in its infancy, I would avoid using words like “CEO, CFO, CTO”. The only thing it serves to do is make team members jealous of someone else’s title.
Don’t worry, nobody is going to think you’re cool just because you’re the “CEO” of a company with $0 in revenue, and I would hold off on putting “Entrepreneur” in your Instagram bio until you get your first sale.
In the next post in this guide, you will learn how to create a killer product/service/offering as a high school student as well as launching it to your first audience! Click here to take your next step.
