Friday, October 27, 2006

Busy week

It has been a very busy week. We had two new team member join. Derek is our new VP of Online Services and Michelle joined as a Marketing Manager. Choosing the right people at such an early stage is crucial for your success. The mantra of every VC is that it is all about the team, the quality of your team and the interaction between team members is probably the second most important factor in the success of a new venture (the first being good luck off course). As CEO I view building the right team as a key aspect of my job, the same as the board should view hiring the right CEO. Getting a great person to join the team is only the first step, you must then be able to clearly define your expectations, set good communications, a way to measure success, and turn this all into a great team. The sport analogy is obvious, I hope that I have more of an effect on the outcome then some coaches. For an interesting article about the role of coaches have a look at Mark's entry on our site.

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