Jan 16, 20232 min read

What Characteristics Should Founders Look For In High-Performing Teams, and What are the Risks?

Updated: Jan 21, 2023

Characteristics

As a founder of a startup, some key characteristics that you may be looking for in high-performing teams include the following:

Proactivity: Team members who take the initiative and are not afraid to try new things, even if they may fail. This is important because it allows the team to move quickly and make decisions independently, which can be crucial in a fast-paced startup environment.
Strong work ethic: Team members willing to put in the extra effort required to succeed. This is important because it ensures that the team constantly pushes to achieve its goals and is unsatisfied with mediocrity.
Problem-solving skills: Team members who can think critically and creatively to find solutions to complex problems. This is important because it allows the team to navigate unexpected challenges and find new growth opportunities.
Adaptability: Team members who are comfortable working in a fast-paced, ever-changing environment and can adapt to new circumstances and pivot when necessary. This is important because it allows the team to stay agile and responsive to changes in the market and industry.
Communication skills: Team members who can effectively communicate with one another within their own roles and across different departments. This is important because it allows the team to collaborate effectively and ensure everyone is on the same page.
Self-motivation: Team members who are motivated to achieve success individually and as part of the team. This is important because it ensures everyone works towards a common goal and is invested in the company's success.
Passion: Team members who are passionate about the company's mission. This is important because it ensures everyone is working towards a common goal and that the team is committed to the company's mission.

Risks

However, it's also essential to manage the risks of high-performing teams. One challenge is that high-performing teams can become overconfident and take on too much risk. This can lead to poor decision-making, and the team may need to pay more attention to potential issues.

Another risk is that high-performing teams can become siloed and isolated from the rest of the company. This can lead to poor communication and coordination, slowing the team's progress and making it difficult to achieve goals.

Finally, high-performing teams can become dependent on a single leader or a small group of leaders. This can lead to a lack of leadership development and a succession plan, which is detrimental to the company's long-term success.

Final thoughts

As a founder, it's essential to keep these risks in mind and take steps to mitigate them, such as providing regular feedback, encouraging open communication, promoting leadership development and creating a culture of accountability.

About the Author

Adam Ryan is a Professor of Practice (Adjunct Professor) at Monash University and is a principal at Watkins Bay. Adam has over twenty years of start-up experience in Australia and the USA. An expert in Company Structuring for Innovation, Strategy, Mergers & Acquisitions, and Capital for early and growth-stage businesses.