When I started my first company Project Value Delivery four years ago I was alone, with some advice from a team of close friends that participated to the capital. With my new venture ProjectAppServices we are a team of 3 involved in the business plus some investors. And this makes a hell of a difference!
Here are some of the main differences:
- We gain a lot of time and unnecessary trials by spending a lot of time brainstorming together (I know, it sounds contradictory but actually is true!) and we converge much more quickly towards practical actions
- By being a team we can specialize, and each of us concentrate on what we know to do best. I still have to do a lot of different stuff as an entrepreneur, but I can delegate a lot of it to others who can do it better. Action is definitely quicker as well when we work in parallel to achieve a goal
- Because of our diverse backgrounds we have access to a much wider network and set of industries to expand our business
Investors and other wise people that commit to support and advise are fine, but of course they are not so involved in the day-to-day grind so they can’t really count as part of the team.
In summary, working as a team definitely improves effectiveness and comfort at the same time, and it is a blessing compared to the solitude I felt at the start of my first venture!. It is enhanced by the fact that we know each other for a long time and we trust each other a lot, which helps!
Of course, it requires more funding and investment upfront so it’s not always possible, but I know now that if I start something new again (which will certainly happen one day), I will try to build a team first and do it together.
