PROMOTER TEAM

Accelerate your business with these expert tips about "Team Promoter". Analyse and discover this TIP!

The promotion team is the group of people in charge of starting the company or business project. This team is in charge of carrying out the necessary actions to create and launch the business in the market.

There are partners who are on the company's cape table but are not part of the promotion team.

In a company there can be different types of partners with different roles and responsibilities. The promoter team refers to those people who lead and play a key role in the creation and development of the company, who usually have a greater involvement in strategic and operational decision-making. In contrast, cape table partners may be those who have invested capital in the company or who have acquired shares in the company through some kind of agreement. 

The promoter team of a new company may consist of one or several partners, depending on the legal structure and the nature of the business. The partners of the promoter team are usually the founders of the company and are responsible for its direction and management.

The functions of a start-up team may include:

1. Identification of business opportunities and market analysis.
2. Development of the business strategy and business plan.
3. Search for financing and management of the initial investment.
4. Selection and recruitment of personnel.
5. Establishment of strategic alliances and partnerships.
6. Supervision and control of business activity.
7. Making key decisions and defining the vision of the company.

It is important that the promoter team has a high level of commitment and a shared vision of the business project, in order to work in a coordinated and efficient way in the creation and consolidation of the company. It is also essential that they have adequate training and experience in areas such as business management, marketing, finance, technology, among others, in order to successfully lead the project.

In short, the promoter team is a fundamental part of the creation of a new company, as they are responsible for bringing the project to life and carrying it out, taking risks and making important decisions in order to achieve business success.

Inadequate promotion team is one of the causes of failure of many companies.

It is true that an inadequate promoter team can be one of the causes of failure of many companies, especially in the case of start-ups. The success of a company depends to a large extent on the people who are part of it, especially in its early stages, where the promoter team plays a crucial role in decision making and in the creation of the entrepreneurial culture.

An inadequate advocacy team can have a number of problems, such as lack of complementary skills, lack of experience, lack of commitment or lack of leadership. These problems can affect decision-making, strategy implementation and the ability to adapt to the changing environment. On the other hand, the right promoter team can bring complementary skills, a clear vision, a strong entrepreneurial culture and a strong motivation, which can increase the chances of success of the company.

That is why careful selection of the promoter team is critical for any company, especially in the case of startups. It is important to look for people with complementary skills, experience in the sector or in key areas, a positive and committed attitude, and a clear vision of what they want to achieve with the company.

It is also important to consider the corporate culture and vision of the company when selecting the promoter team, as they should be people who share the same values and objectives in order to work together effectively.

In short, an unsuitable promoter team can be one of the main causes of business failure, while a suitable promoter team can be one of the main keys to business success. It is therefore essential to devote time and resources to carefully selecting a company's promoter team.

How to select the right promotional equipment?

To select a suitable promoter team for a new enterprise, the following steps can be taken:

1. Define the objectives and goals of the company: It is important to be clear about what you want to achieve with your business in order to select the right team of promoters who have the skills and experience to achieve these goals.
2. Identify the skills and competences needed: Once the company's objectives and goals have been defined, the skills and competencies needed in the development team to achieve them must be identified. For example, if you are a technology company, you are likely to need people with skills in programming, design and digital marketing.
3. Search for candidates: Once you have defined the skills and competencies you need, you can search for candidates who possess them through different channels such as social networks, job portals or referrals from people close to you.
4. Evaluating candidates: Once candidates have been identified, it is important to assess them to determine whether they possess the necessary skills and competencies to be part of the advocacy team. This can be done through interviews, technical tests and psychometric assessments.
5. Select the team: Finally, candidates who meet the requirements must be selected and the team of promoters of the new company must be formed.

It is important to bear in mind that the promoter team must have a combination of skills and competencies that will enable it to achieve the company's objectives, but there must also be a good working dynamic and a shared vision to ensure the success of the project.

The promoter team should have complementary functions and cover the commercial, technical and management sides.

The promoter team of a new venture should have a combination of complementary skills and expertise to cover the different areas of the venture. For example, it is important to have someone with commercial skills to develop and execute sales and marketing strategies, someone with technical expertise to lead product or service development, and someone with management skills to oversee and coordinate the day-to-day operations of the business.

It is also important that the promoter team has good teamwork skills and open and clear communication to ensure that decisions are made effectively and that the company can move in the right direction.

Business Angels invest in development teams, and this is what they value:

Every viable business opportunity needs a team to make it feasible, to transform the abstract feasibility into a concrete opportunity. In fact, as investors, we see many projects that are very viable, but not very feasible because of the team that presents them to us.

First, for quantitative reasons. A team, by definition, cannot be a single person, nor several people from the same professional background. It needs to be made up of several different and complementary people. It is almost never financed by a single person (self-employment does not appeal to investors). In fact, if only one person comes to ask for money, this alone causes distrust on the part of the investor, who will tend to think that if the entrepreneur has not managed to convince anyone to join his project, it is probably because he does not have such an attractive and seductive idea, as valid as he believes. Therefore, the first requirement for a good team is that it is a good team, that it is made up of more than one person, of several people and that they are diverse. We cannot claim to be a football team and, to prove it, have eleven goalkeepers. 

A team has to be balanced and complementary. Entrepreneurs often claim that they are a team, when in reality they are three identical people, with the same bird's eye suit and loud tie, who arrive after having all studied the same MBA, or similar, and having all worked for five years in the same consultancy firm. For this, it was not necessary for all three of them to come, if only one of them had come... or if he himself had come three times.

At other times, it's three enterprising techies, three enterprising developers, all in black T-shirts, one of whom, who is obviously the leader, has the V for Vendetta and Guy Fawkes' mask printed on his. This is not a team: this is one person three times over. The grace and effectiveness lie in complementarity. The natural thing is that we all do things with the people we know, because, as well as being those we have closest to hand, we share a common language and with them everything seems easier. In reality, one person who is the same as another brings nothing to the table.

If what we are organising is a digital project, it is logical that among these people there should be a technician, just as if we were setting up a string quartet there would have to be at least one person who plays the violin. Also, there has to be someone who is in charge of selling the product, although at the beginning it makes sense for everyone to take on that role. The curious thing is that although the presence of technicians and salespeople is assumed without discussion, the same is not true of another figure who, from my point of view, is equally essential but who does not always form part of the initial team. 

It is often forgotten that what is being set up is a company and that, therefore, the team must include an entrepreneur; that is, someone who knows what a balance sheet looks like and how a euro moves through it, who knows how to hire, fire and motivate, who knows what it means to go to the bank on the corner to ask for a debt deferment, who knows, in short, how to run a company. When the person who is going to manage the company is missing, it is as if a ballet were presented to me and the dancer did not appear.

The second requirement of a good team is that each member of the team is sufficiently skilled to do what he or she has to do, to fulfil the function assigned to him or her. This does not mean that they must have a lot of previous work experience, but they must have the capacity to know how to do what is asked of them. It is also a requirement that someone has some prior knowledge and contact with the sector in question. Not everyone has to know the business beforehand, in fact sometimes it is not good if they do, but at least there has to be someone who knows the intricacies of the sector in which the company is going to operate.

Team or business model? The first thing a successful entrepreneur needs to do is to build a team. If he wants to succeed, he must have a valid, viable and feasible business model and a solid, competent, enthusiastic and committed team. However, the never-ending controversy persists as to whether the team or the model is more important. If you are looking to win a race; which is more important, the horse or the jockey who rides it? Of course, there are opinions to suit all tastes and it doesn't look like the debate is going to die down any time soon. Bringing the discussion back to this century, the question could be transformed into:

What is more important in a Formula 1 race, the car or the driver? Everyone will think what they want, but perhaps we could ask Fernando Alonso, who despite being the best driver in the world has been dragging his feet on the racetracks for years. It's clear to me: it's clearly the model that matters. If not, let's turn the argument around and consider what happened to the Red Bull cars a few years ago, prototypes that, regardless of who was driving them, were incredibly close to the track and always came in first. Those are the models an investor is looking for: so good that, as long as the teams that put them into practice do halfway well, they succeed and meet their targets. 

As my American colleague Peter Lynch used to say: "Pick a business that any idiot can do, because sooner or later, any idiot is likely to do it". The key is the model because a good team guarantees that the business will be viable, but not that it will achieve the profitability that an investor is looking for. Every good driver finishes the race, but only those with a good car that runs hard and doesn't break down at the first attempt will get on the podium. If only because of what they say in racing that when the boat runs, you get a smart face. Often, what you need is a business model that is so simple and effective that you look like a great entrepreneur.

Take Privalia, for example. In Spain there are surely other entrepreneurs as good as them, but what is not so abundant are business models as powerful and scalable as theirs. As Warren Buffett, the sage of Omaha, warns: "When an entrepreneur with a reputation for brilliance flirts with a business with a reputation for being bad, the teams that put them into practice do halfway well, succeed and achieve their goals.

Investors only want companies with the right and complete equipment. The promoter team is a key variable in an investor's decision to invest in a project. Every member of the team, from the founder to the intern, has to show a hunger for success.

If the new project is understood as a nine-to-five job, it will surely fail. Investors look for this culture of ambition and commitment when deciding who to support with their time and money. Every business will encounter obstacles and challenges when going to market. If a team is aligned, motivated and "hungry", almost all difficulties can be overcome.

With this attitude, the team is active and the investors know that very well!!!

In the team, there are certain qualities that promoters in general must possess

• Capacity for risk-taking (+).
• Adaptation to change.
• Decision-making capacity.
• Planning and managing the company.

Profiles of the promotion team:

In terms of the importance of well-defined jobs and the functions they should carry, five stand out job profiles keys to starting a start-up:

• CEO. Chief Executive Officer or Executive Director. This is the person most responsible for the management and administrative direction of the company.
• CFO. Chief Financial Officer. Responsible for the economic and financial planning of the company. He or she decides on investment, financing and risk in order to increase the value of the company for its owners.
• CIO. Responsible for technology systems The company's information management at the process level and from a planning point of view.
• CTO. Technical development manager and the proper functioning of information systems from an implementation point of view.
• COO. Director of Operations. Monitors how the company's product creation and distribution system is working to ensure that all systems are functioning well.