Do You Think Investic Has a Strong Founding Team?
Do you think Investic has a strong founding team? *NoVerplichtWhy? (max 250 words) *Overall, I think Investic hasn’t got a strong founding team. The good thing was that the team is really divers, with members that have knowledge and experience in different fields. I think the combination of this knowledge and experience is necessary to succeed. But there are a lot of weak points. First, the fact that Brian is working undercover. The team is taking a risk and I think when someone is working undercover, he can’t use all his abilities. Second, there is not a clear leader of the team. Looking at Beschloss (2009), teams need a compelling direction, given by the leader. When not, there is a risk that team members will pursue different agendas. Third, a team needs enabling structures. In case of Investic, instead of Micheal, no one has a specific role. They solve all the problems and challenges together. Last, most of the members can’t work full time. This could be a problem; they can’t fully focus on Investic. So, I think the team has got the resources for a strong founding team, but I think they don’t utilize it well.
Is there anything else that Nicholas should be doing to ensure Investics success? (max 200 words) *Like I already said, it is not good that Brian is working undercover. To ensure success, especially to prevent failure, it is important that the law hasn’t got the opportunity to destroy their business. Besides this, Brian should be the critical person in the team, with his superior knowledge and his experience from working at Bondcom, the competitor. I think Nicholas should utilize the knowledge and experience of Brian, but not in the way he is doing now. (taking risk by working undercover) Besides this, it is maybe also a good to search for funding. Now, the total start up capital is 13,500 EUR. To ensure success, it is also very important that every team member is able to work full time. In my opinion, in this business you can’t succeed when you are only working in the evenings and weekends. Last, not really sure about this, maybe it is better to create a team that doesn’t consist of old friends/colleague. When doing this, so when you are not very familiar and comfortable to another, you won’t quickly accept another foibles, and as a result it is less likely that the performance falls of. (Beschloss 2009)