Building A Founding Team

From the Desk of Ryan Binkley

One of the most essential lessons any entrepreneur can learn is the importance of building a solid team of talented people to help you grow the business. Our lead article this month offers valuable advice on how to create a “founding team,” a group of leaders who are diverse enough to have differing ideas, and the courage and conviction to share them.

As Steven Blank of the Kaufman Founders School so aptly puts it, “You need to develop yourself as well as build a founding leadership team that’s an operational powerhouse. You’re looking for the people who can help you grow from a start-up entrepreneur with revenues of $2 million a year to $100 million a year and more.

As leadership coach Marshall Goldsmith once wrote, “What got you here, won’t get you there.” That statement really applies as a CEO and entrepreneur attempts to grow his or her business.

This concept is especially critical if you eventually will be negotiating with buyers about acquiring part or all of your company. Having a solid leadership team in place gives them greater confidence that the business will be sustained when you depart.

And remember that your relationship with Generational Equity doesn’t end once our initial evaluation is completed on your company. We provide you with two updates of value at no additional cost over a five-year period. If your business is performing better now than it was a few years ago, it might be a good idea to contact us to review your company’s current market value.

Keep in mind that in addition to a value update, we also will provide you with our Roadmap for Enhancing Value, a document designed to give you ideas on steps you can implement to build the valuation of your business over time. Our clients find this tool extremely helpful as they focus on growing their business for future acquisition.

If you are interested in exiting your business, just want to determine your company’s current value, or if you have any questions for us at all, please call our V.P. of Client Experience, Jay Hellwig, at 877-213-1792, or send Jay an email at jhellwig@generational.com and he will be in touch.

Thank you for your time,

Ryan Binkley
President, Generational Equity
http://www.generational.com