The Power of a Team: Working with Experts

Business Planning

The Power of a Team: Working with Experts

No amount of individual knowledge and experience can be compared to the power of a team.

A team of experts could be the most important secret weapon you can have when launching a great product, service or app.

“Great things in business are never done by one person; they are done by a team of people.” -Steve Jobs

How do you assemble a power team?

Evaluate What Expertise You Already Have

The first thing you want to do is to take inventory of what you have at your fingertips right now. Think about the skill sets and experience you have as well as any team members or stakeholders in the business that might be able to contribute.

  • What do you know about the industry? 
  • What are your skill sets?
  • How much time you have available?
  • Do you have the money?
  • Are you familiar with marketing?
  • How are your sales skills?

If you take your time to think about it in the beginning, you will understand immediately that you cannot do it on your own. You WILL need help. Not just any help – you will need people who know exactly what they are doing.

Don’t get us wrong, you could start the process alone, but once you get in the thick of product development and marketing your product, you are going to need a power team of experts.

Understand What Kind of Expertise You Need

Once you know your strengths and assets, you are ready to fill in the gaps with the specialist that you need.

Here are just a few of the areas of expertise you might require:

  • Engineering
  • Strategy
  • Operations
  • Social Media 
  • App Development
  • Manufacturing
  • Fulfillment
  • Package Design
  • Project Management
  • Product Design
  • Marketing
  • Videography
  • Web Development
  • Sales 
  • Advertising 

No matter how good you are, you can’t possibly have all of those skill sets. The question isn’t whether you need these people, but WHEN you can bring them on your Power Team and do you have the funds to get them involved.

“The trick is to understand the difference between somebody who’s an expert that’s going to do what you want them to do and somebody who’s an expert that is going to tell you what you should be doing. ” – Fred Cary

WARNING: Experts that do exactly as they are told are dangerous.

That sounds like a funny warning for us to give – but it is true! You need the feedback from experts to create something awesome that is both manufacturable and marketable. You really want to surround yourself with people that aren’t afraid to share feedback and communicate with you when they see a concern or an opportunity.

Know Where to Find Experts

1. Job Platforms

Upwork, Guru, and Fiverr are just a few of the platforms where you can find experts.  You can post a job and get applicants on the same day. However, it really does get spendy to find freelancers on these platforms.  

The cost of the specialists may look lower than a traditional job posting sites, but the true “cost” is the time and energy that goes into finding a reliable and talented expert.  

TIPS: Be sure to ask to see examples of successful projects like yours and also get at least three U.S. based references before making a decision.  Be sure to call or email the references and ask them about their experience. 

2. Incubators

Incubators and accelerators can offer entrepreneurs access to experts, but they are often looking for someone who already has some level of success in the industry.  You may need to show pre-sales or a considerable base of interested people to get noticed by an incubator or accelerator.

These experts often do want a stake in the company for their participation in its development.  Like Shark Tank. If you don’t offer a percentage of your business, you will have to think about how to pay them a regular salary which can be costly for a startup.

3. Headhunting

Searching for experts on LinkedIn is also a viable option.  You might be able to find an expert that just finished working on a similar project and is looking for the next opportunity. 

Recognize a Red Flag

Be sure you select people you are comfortable working with. Maybe you don’t have the same mindset, or they make major decisions without discussing it with you. Make sure you’re dealing with somebody that you’re compatible with and that you feel comfortable sharing your knowledge with.

“It’s about people and products. It’s not just about the product.” – Fred Cary

The biggest red flag you should be aware of is people and companies that take advantage of entrepreneurs and inventors. If you hear somebody telling you your idea is brilliant and that you just need to patent it and get a licensing deal before the money starts pouring in, run! That is a fairy tale that will end badly for you.

Other red flags are open-ended engineering agreements without clear parameters on the cost and the final result because every iteration will cost you money. At IdeaPros, we make numerous iterations until we are satisfied with a product or app. We negotiate those fees upfront and make sure those are included in the initial price.

Partner With Us

Partnering with us will cost you more money than partnering with companies we’ve mentioned earlier, but your chances to triumph will be a lot higher too. When you understand the power of the right team and you are working with experts on your idea, wonderful things can happen.

The “Idea Pros” at IdeaPros have the resources, experience, and tools to help you at this step or any step in the entrepreneurial journey.

We partner with entrepreneurs at any stage and who are ready to invest their ideas. Apply for an interview and let’s explore partnering together.