COMM 320 Lecture Notes - Lecture 9: Startup Company, Pattern Recognition, Linkedin
5 Dec 2018
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New venture team: is the group of founders, key employees, and advisors that move a new venture from an idea to a fully functioning firm. Usually, the team doesn"t come together all at once. Instead, it is built as the new firm the people involved can"t adjust fast enough to their new roles and because the firm can afford to hire additional personnel. The team also involves more than paid employees. Many firms have boards of directors, boards of advisors, and professionals on whom they rely for direction and advice. New ventures have a high propensity to fail. It is widely known that a well-conceived business plan cannot get off the ground unless a firm has the leaders and personnel to carry it out. An idea is important but it will only make business if the proper team carries it. Moreover a strong team will impress investors, shareholders, etc. Separate elements of a new-venture team: the founder or founders.
