Venture capitalists, financial institutions, and investors care about your idea, but also central to the decision to partner with your company is the group of people you have working together. A concept simply cannot get off the ground and venture capital opportunities can’t come without the right people, and for this reason, you’ll want to start off with the proper foundation.
Your investment firm is interested in the long haul, and this is best determined by examining the reliability of those you have on staff. Their work ethic will also factor in significantly as to whether deadlines will be met, and they will need to be honest and forthright with their needs, problems, and concerns.
In addition, there is simply no substitution for an enthusiastic work culture, and passion goes a long way to help companies navigate the slump between the earliest stages of a project and seeing the finish line in sight. How they present themselves is important as is also their confidence and attention to detail.
Qualifications Are Vital
In the early days, it is often tempting to fill the needed roles with whomever you can find, but this is hardly a strategy for longevity. Instead, you’ll want staff who possess a strong background in your niche and who can bring desirable skills and training to the table.
This will help you to position yourself as a leader in the industry in which you wish to take hold. Also, you’ll avoid catastrophe by employing those who are well-educated in the field in which they are embarking. You need to keep the need to scale in mind and place the appropriate officers in roles in which they can grow.
Venture capitalists will be looking at your colleagues’ records to determine whether they are prone to job hopping. If he or she stayed at a job for years, it is a good sign that they can maintain employment for long periods of time.
Also, references are crucial in ascertaining if this individual was successful at their previous employer. Reasons for leaving are helpful and will provide a great deal of helpful information. Attendance records also are an essential part of the story.
Soft skills cannot be overemphasized, especially if your business has significant dealings with the public. Deals can be lost without the proper social cues, and you don’t want to neglect the importance of networking. To do this, your people must be able to put others at ease.
Staffers who have a positive outlook and who can smile, giving adequate eye contact while engaging in appropriate chit chat that is substantial and appropriate while remaining inoffensive and polite are a definite plus.
Those you bring on board must be willing to do the hard work day in and day out. They must commit to seeing a job through, and this includes proofreading and checking their work before moving on and making something as completed.
It may be necessary to take breaks to maintain and focus, but the underlying drive needs to be present. Since perfectionism has long since been recognized as having a negative effect on both output and health, you want people who will strive toward excellence instead of perfection. When your team is hardworking, passionate, educated, social, and honest, it will make an impression on your investors.
Fidelman & Co. specializes in management consulting, presentation advisory, and financial modeling. We focus on building businesses alongside entrepreneurs and investors. Contact us today for more information about what we can do for you.