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Top 5 Questions to Consider When Building A Management Team

Consider Management Team from The Startup Garage

Before brining on a new manager, ask yourself the following questions:

1. Does the person fit into the company’s culture? Company culture is basically defined as the values and practices shared by the company’s employees. A company’s culture should be aligned to its business goals and therefore, the management team should also be aligned with this culture in order for a mutually beneficial and productive relationship.

2. Does the person know the industry? Experience is one of the most valuable assets that a manager can possess as it enriches his/her judgment and enables him/her to make strategic decisions. Management, to a very large degree, is about making decisions. Therefore, a person who knows the industry well tends to lead the company on the right track towards success.

3. Does the person have a skill that the other team members do not? An entrepreneur should avoid surrounding him/herself with people of similar skillsets and backgrounds. A team should have similar values but comprehensive skills. In order to select the right talents, you must first be honest with yourself about your own strengths and weaknesses.

4. Is the person in it for the long haul? Adapting to a new environment and system can take many months, especially in a management level position. High turnover amongst management can be very costly and dangerous towards maintaining stability, culture and competitive advantages. Be sure to hire people that are looking to grow and stay with the company for the long run. Additionally, be sure you provide the right support and resources necessary to ensure your management team continually sees value in working for you and your company.

5. Is he/she a person of integrity? Integrity should be at the core of every business. It is a crucial and essential characteristic for the long term development and growth. When looking for people to manage your company, maintain client/customer relationships and oversee your company’s products/services, be sure to find someone who you trust and who can represent the company with integrity.

Entrepreneurs and business owners should incorporate their organizational chart, management roles, hiring strategy and core values into their business plan based on the considerations mentioned above. By planning and articulating a company’s management strategy, entrepreneurs and business owners are already one step closer towards hiring managers that fit the company’s culture, know the industry, have diverse skill sets, are in it for the long run and honor integrity.

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Whether you have a question about questions to consider when building a management team, or you’d like to discuss our business plan writing services, feel free to contact us for a free consultation!

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