And now we are going to talk about the team.
The team for your project.
We have been talking about which are the most important resources for your project,
and how to execute, and I have said that it's time, money and team.
Okay. You need to build a great,
an amazing team because the most important asset after,
probably during idea, is the team.
Without a great team, it's very difficult to execute a new project.
How to find partners, employees or co-founders.
Let's start first with founders or co-founders. What's the founder?
The founder is the first guy that has the idea or we could talk
about co-founder if there are two or more people having that idea.
It's interesting to have one,
two or three founders. It depends.
There's not a rule because we can have a lot of
examples of great companies that only have one founder,
great companies with two founders,
and great companies with three founders.
Then, we need to decide who's going to play a role?
Who's going to manage the team?
And I suggest that one of the founders has the last voice on the team.
Second group of the team is employees.
Are there employees? Who are they?
They will be the soul of your project.
Why do I say that they will be the soul of your project?
Yes, because when you hire someone for
your project you are deciding what kind of people do you want with you.
Yes, think, think about this.
Think about the company and the soul of a company.
If they are good people or not.
Yes, that is a key and very important factor for the success of the startup.
And when you start hiring people,
the first one is very important because he's going to
explain how you manage the company to the second one.
Who are the key roles in your team?
For example, in a legal tech business,
if you are not a technical guy, probably,
the first one employee,
you need the chief technical officer.
The first technical guy.
Because if you are a tech company,
you need tech people inside the company.
I don't suggest to hire providers for
being the tech part of the company because they
want money and when the money ends they go out.
They just run out.
Which other key people or key employee you could have?
For example, front-end engineers, marketing, growth, sales.
There are a lot of people that can make your project,
your legal tech startup success.
The next question that a lot of people ask to me is, "Okay.
Murthy we need to give stock shares,
stock options, to the employees."
Okay, we could do that, but we need to do that with the key people.
With those persons that we need that they stay always with us in the project.
Then it's good having a stock options? Yes, it's good.
But you need to take care to who you give
that stock option because that is also a limited resource.
In the next video,
I will explain how you can attract people to your project.
How you can attract new employees to your project because talent people
for your project is really a very important things. Let's see.
