Surround yourself with like-minded people. Bring in as many different perspectives as you can. Fuel creativity by promoting tensions. It seems that every expert who weighs in on the composition of the perfect management team offers up a different recipe. We polled a number of entrepreneurial gurus and asked them to tell us who should be at your right hand when you’re about to launch a new enterprise.
A diverse mix, says Greentown Labs CEO Emily Reichert, PhD, SF ’12. She says the head of a startup needs to entertain a steady stream of different perspectives. If your management team is diverse, she believes, you’ll have a better chance of generating fresh ideas and solutions. “The strongest teams are those that represent multiple cultural and professional perspectives—technical, managerial, marketing. That way, all facets of your business are being addressed during the decision-making process.”
Jag Gill, SF ’13, founder and CEO of Sundar, a global apparel startup, notes that many investors value CEOs who are outside the industry in which the enterprise operates. Although she had advised clients in the world of apparel and had exposure to the industry, Gill herself had a background in finance before launching Sundar. “One thing that someone from outside the industry brings to the table is an impulse to ask why. They haven’t become comfortable with the status quo, so they don’t just accept things the way they’ve always been. They are always asking, ‘Why do we do things this way?’ That reality check is exactly what a business needs to compete and stay healthy.”