Your Dream Depends on Teams: How Entrepreneurial Teamwork Impacts The Future of Your Company

Beth Miller |

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The work that a company’s founders put into the early stages of the business will set the tone for the
growth and success of the organization down the line. That’s why it is essential to focus on building a
strong, cooperative team from day one. When the entrepreneurial team values teamwork, they create a
culture where collaboration will be valued at every level.

The Qualities Of Effective Entrepreneurial Teams

Entrepreneurial teams take on high amounts of risk together. This means that in the face of extreme
stress, team members must be able to work together to reach company goals. In my experience, successful entrepreneurial teams all share the same qualities: They are flexible and adaptable, they value
collaboration, and above all else, they share core values.

In order to keep everyone focused on results, rather than getting caught up on the process of realizing
those results, strong leadership is required. The CEO of a new venture must be resilient and ready to
deal with adversity. And above all else, despite the fact that the CEO is the head of the company, the
entrepreneurial leader (and the rest of the team) must be able to recognize and own up to their
mistakes quickly, so that they can learn, recover and move on quickly.

Cultivating a Collaborative Culture

When starting a new venture, there is no such thing as a functional silo. The founding members of a
company must work together and while their work styles can certainly be different, those styles should
complement one another. This collective intelligence requires the whole to be greater than the sum of
its parts.

In order to get a business off the ground, teamwork is essential. In order to ensure that the environment
fosters teamwork, the entrepreneurial team must put teamwork into its company culture from day one.
They must celebrate it. Promote it. The company should create an environment where collaboration will
be valued as the company grows.

Putting Entrepreneurial Teamwork Into Action In A Growing Business

Kabbage, an Atlanta-based finance technology firm that helps small businesses connect with funding, is
a solid example of strong entrepreneurial teamwork that spread into the company culture. According to
the Kabbage Culture video, the founders focused on building a place where people want to get up and
come to work each day, knowing that they can be themselves and focus on work that they want to do.
Kabbage promotes from within, and they focus a great deal of time and energy learning from one
another. Every single employee has input on new and existing projects. If someone has an idea they
think will make the company or the product better, it is heard. Because of this openness, Kabbage is
able to respond quickly to demands and market changes, and they are some of the fastest innovators in
their sector. Their commitment to collaboration started with the founding members of the company,
and has become a key pillar of Kabbage’s culture.

The success of an entrepreneurial team directly impacts the future of their venture. However, their
team dynamic also influences the success of future employees. By fostering a collaborative environment
today, founding teams create an environment where strong teams will drive success tomorrow.

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Beth Miller

Beth Miller

Beth Armknecht Miller’s passion for learning, and dedication to helping others, are strands woven throughout her distinguished career, which continue to guide her work with Executive Velocity, a top talent and leadership development advisory firm. As a trusted executive consultant, Vistage Chair, and committed volunteer, Beth holds herself to a rigorous standard of excellence, and she encourages her clients to do the same when pursuing their goals.

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