This week I thought I coined a great new word…the Minimum Viable Team.
I got the idea from the much used term ‘minimum viable product‘, namely our minimum viable team or MVT. Sure enough, I soon found out that I merely trod in the foot path of other startup pioneers. The awesome startup blog ‘This Is Going To Be Big” already wrote a splendid article on the subject, titled, as expected: The Minimum Viable Team :).
What I wanted to share wasn’t my near-to innovative moment but rather that in Fundacity I finally feel that we have found our Minimum Viable Team consisting of 4 great individuals. On the personality side we all share some key characteristics: hard working, stable, friendly and dedicated to our craft, but we differ greatly in our special powers :).
Amongst this team of 4 we have all major areas covered needed to make Fundacity big. The article on MVT outlined that basic function of a tech company comprise of:
4) Business development
7) Product Management
but that these can be grouped into:
1) Attracting and benefiting from outside interest
2) Customer experience
4) Some outsourced crap the team shouldn’t be thinking about
There is of course some overlap between our roles, but we each gravitate toward our distinct areas quite naturally which is fantastic.
Assembling the MVT together was not easy and we had many bad apples in the bunch. Some we fired and others I failed to fire quickly enough but fortunately they resigned sensing it was better for both. Getting the right team together is probably the hardest and yet most important thing that defines the fate of a startup. Each hire significantly impacts the culture and functioning of the startup.
Mistakes can equal death
thus it is advisable to
Hire fast and fire faster
To say the least, I learnt a lot along the way. The following two articles were insightful reads on hiring and firing. Hire Fast, Fire Fast and How to Deal with Pure Recruiting Mistakes. Hope you enjoy them.