Well designed and supported entrepreneurial teams have the potential to create value that solves the world’s most challenging issues. However:
- 65% of startups fail due to team issues;
- 80% of leadership teams are ineffective; and yet
- 64% of VC report that team was the most important factor in a startup’s success.
Are you a Team?
Using the Team Diagnostic for Startups assessment, we can help you rapidly and efficiently get your team off to a great start and accelerate your entrepreneurial journey.
More specifically, becoming a better team will:
- Ensure your success
- Make you more attractive to potential investors
- Improve your team's resilience when under stress
- Make faster and better decisions
See how the Team Diagnostic for Startups
can help your team:
Are you an investor?
You know how important it is to invest in a high performing founders team. At pace, the TDFS provide you insights that help in your pre investment decision making and post investment support to the business.
THE SIX SUCCESS FACTORS
TEAM PURPOSE
The Team Purpose spells out the team’s unique contribution in the near term.
It is distinct from the company’s overall purpose. It should be clear, challenging and consequential.
It is distinct from the company’s overall purpose. It should be clear, challenging and consequential.
INTERDEPENDENCE
The team’s work requires a level of interdependence that transcends individual responsibility.
The team has clear and bounded membership and is stable enough to accomplish meaningful work in the near term.
The team has clear and bounded membership and is stable enough to accomplish meaningful work in the near term.
TEAM COMPOSITION
The team’s composition has sufficient skill, experience, and diversity of perspectives to carry out the team’s purpose.
WORK PRACTICES
The team has thoughtfully crafted guidelines for working together.
These guidelines help the team identify critical tasks, accelerate problem solving and decision making, foster collaboration and reflection.
These guidelines help the team identify critical tasks, accelerate problem solving and decision making, foster collaboration and reflection.
REWARDS
Agreed rewards are shared fairly
across the team.
Team members have sufficient skin in the game and derive additional benefits from intangible rewards.
across the team.
Team members have sufficient skin in the game and derive additional benefits from intangible rewards.
COACHABILITY
The team wants and looks for honest feedback about their performance.
They are able to learn from experience and adjust accordingly. Humility and openness are observable in the team’s functioning.
They are able to learn from experience and adjust accordingly. Humility and openness are observable in the team’s functioning.
MEET THE TDFS DESIGN TEAM
Dr Ruth Wageman
Dr Krister Lowe
Mark Emdin
Dr David Tate
Dr Marianne Pantalon