The Collective Genius Blog

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Building Teams is the Way: Fundraising

It was 9:45 AM and I was just rounding the corner of a hill on my hike. Looking down below to my car and doing the math I realized, once again I might need to take my 10:00 Zoom from the trail.

This seems to be happening more and more, as I have been using the morning hikes in the mountains to sort out my writing for the day. I add this to my not a bad problem to have list.

As I jump on the call with a long time friend and investor, she immediately asks me. I bet you are busy right now. Looking down at my dirty running shoes and joggers, I replied 'maybe I should be? LOL"

Similar to many of my calls, we jump quickly into business talk and forget about the niceties of catching up. The conversation goes quickly to 'tell me why people are finally getting it.'

She explains how it is no secret investors invest in people, so why does it have to take a slow down for CEOs and founders to finally start focusing on their people?

Since LinkedIn only gives us 3,000 characters here is the the short breakdown 'Why CEOs are focusing on their teams to solve funding challenges.'

1. Team Cohesion Leads to Greater Efficiency: A high-performing team is one that is cohesive, working together seamlessly to achieve common goals.

This level of cohesion can help a startup maximize its existing resources, making the most of every dollar invested.

With a well-organized team in place, a startup can increase efficiency and productivity, which leads to cost savings and a greater likelihood of success even when funding is tight.

2. Innovation Thrives in a High-Performing Environment:

A team composed of diverse individuals with complementary skill sets is more likely to foster innovation than one made up of similar team members.

By building a team that includes people from different backgrounds and with different strengths, a team can tap into a broad range of perspectives and ideas. Which often leads to breakthroughs that help the company succeed even in the face of financial challenges.

3. Risk is Mitigated with a Strong Team:

Finally, a strong team can be better equipped to manage risk, including the risk of running out of funding.

By having a team that is well-coordinated, adaptable, and responsive to changing circumstances, a startup can more easily weather challenges that might otherwise be insurmountable.

With a strong team in place, a startup can remain agile, quickly adjusting course as needed to keep the company moving forward even when the road ahead is uncertain.

Keep Climbing my friends 🚀 ⛰

Master the habits of of Unstoppable venture-backed teams :

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“The strength of the team is each individual member. The strength of each member is the team.” - Phil Jackson

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