Do I Have to Be a Team Player to Start a Business?
In fact, you do not necessarily have to be a team player to start up in a team. If certain boundaries are agreed upon, people who are less likely to work in groups can also cooperate with each other. Aspects that are important when founding in a team.
1. A common vision and a common goal
Working with united forces towards a goal not only conjures up team spirit, but also focuses the goals and communication within the team. Everyone knows which goal and vision is being worked for and how everyone can contribute to this goal. With a focused process, it is not so easy to be thrown off track when hurdles arise.
2. Complementary competencies
As a solo entrepreneur, you have to be a professional in all areas or invest heavily at an early stage and buy knowledge in house if you have the budget. By founding in a team, competencies can be distributed and expanded and the responsibility does not depend on a single person. This simplifies the team structure and allows you to work more efficiently to achieve your goals and vision.
3. Mutual motivation in difficult times
When you start a business, you experience ups and downs that some people do not even experience in their lifetime. Yes, you can tell your friends and family about it, but can they feel the same way as team members who are in the same boat? In a team you celebrate and try to get out of a low together. Everyone knows how the other feels. This shared experience helps to build team strength and trust to create greater things.
4. Constructive discussion culture and willingness to compromise
NO BASHING! It is important that everyone involved gives and receives constructive feedback, that helps the business and everyone involved. No one wants someone that is only ceiticizing, but not doing anything else to make the situation better. So listening is important and only then target-oriented if you respond to what is said. Do not stubbornly stick to your opinion. Giving in and finding a compromise is not only approved, it is even necessary for teamwork.
5. Trust between the founders
Trust within the team not only makes life easier for the founder, but also for future investors. It is a good sign when trust and respectful interaction is evident. After all, an investment in a company is a long-term investment. And if there is discontent within the team, this is also a sign that a long-term commitment will not bear fruit.
Advantages Starting up With a Team
There are some advantages to team-based start-ups over solo start-ups. A team offers security, because responsibility and risk of the foundation are shared. A good team is able to divide and bear burdens and duties equally. In case of illness, which is one of the biggest risks for founders, a team offers the security that – should one of the team founders fail – another one can at least temporarily stand in for him. The partner(s) are already familiar with the business concept and can absorb the tasks involved for a certain time.
The second advantage is that everyone can work in their own areas of expertise. If you want to set up a company, you are not only faced with bureaucratic hurdles, but you have to be a professional in everything. From marketing to calculation, everything has to be mastered and implemented in the basics. Alternatively, a lot of money has to be spent to buy the missing know-how. When founding a company in a team, the tasks can be better distributed, allowing the individual to concentrate better on his or her core competence, everyone can achieve better results in the end and has more time available.
Contacts in the business world are worth their weight in gold, especially when founding a company. The more contacts a young company has at its disposal, the easier it is to get started. Furthermore, team founders naturally create a larger potential network of important business contacts and investors, and financing becomes easier if it can be divided among several parties.
Starting up in an International Team
Whether you start out alone as a solo founder or as a team founder is not only a question of your own personality but also of the type of business you are planning. If one should decide to found a company with others, the old wisdom applies: “So check who is (eternally) committed”, so that the dream of independence does not fail due to professional or private differences of the business partners. International Entrepreneurship offers the platform to get to know international partners and to find a team. The internationality provides the advantage to market your service or product internationally at a stroke.
There is insider knowledge about what works or does not work in the respective markets without having to buy expensive products or services. You get in contact with potential partners and contacts that are hardly possible on a national level and directly open up markets that are otherwise difficult to gain a foothold. If you want to know more, please visit our webpage for International Entrepreneurship.