Building your team

You can only go it alone for so long! Consider what skills gaps need filling, how these might change over time, and how team members can be incentivised.

You may already have people in mind for some roles within the company, but make sure that selections are made for the right reasons. You’ll require different skills from your colleagues when running a business than those you require in a research setting.

It can often make sense to recruit people from outside, who are already expert in their own specific area, or can open doors to key contacts and markets. While building the proposition, you’ll attend numerous trade shows and business meetings with potential customers/collaborators and pitch to a range of interested parties. This will give you some insight into the strengths and weaknesses of the current team. The make-up of the company will change as the business grows and it becomes necessary to have different skills at management level.

Be sure that any research associates intending to move to the company can fill some of the identified skills gaps. Prioritise their appointments early on to maintain enthusiasm and commitment. Be clear that they are part of the founding team and will be fairly incentivised.

Find other relevant resources in our training guide and toolkit