Why Being a Deal Maker Matters To Your Team

We continue to find more and more fantastic podcasts available online. One inspiring podcast worth checking out is available from the Stanford E-corner website.

Kauffman Foundation Senior Fellow, Ted Zoller in a recent presentation talks about “seizing opportunities and the pathways to developing an entrepreneurial career”. It is worth a listen if you have the time.

The podcast describes many fantastic ideas about approaching and developing your entrepreneurial spirit. One element that stood out was the concept of the ‘deal maker’. There are entrepreneurs (or innovators) and investors. Deal makers act as brokers to make things happen.

So where do you fit? Are you an entrepreneur, investor or deal maker? Do you have characteristics of all three?

Importantly you should acknowledge your strengths and consider your ability as a deal maker. Are you sitting on a great idea or prototype but cannot drive it forward? Have you made some bad deals that mean you cannot move your business in the right direction? If you are stuck, you may need to buddy up with a deal maker or improve your deal making skills.

This makes more sense when you consider your team (assuming you have people around you). The common theme seasoned or serial entrepreneurs tend to mention is team work. They needed individuals with different skills and mindsets to drive their concepts forward.

In the March 2012 edition of the Harvard Business Review, an article on Teamwork titles ‘To Drive Creativity, Add Some Conformity’ looks at the optimal team balance.

They outline the optimal balance as below:

Creatives (20-30%) – Source of radical innovation.
Detail-Oriented People (Up to 10%) – May strengthen functions (such as budgetary control).
Conformists (10-20%) – Supports creatives by boosting cooperation and confidence.

While recruiting and building a team may not suit all, the important things to consider here are your skills versus the skills you may need to move your business upwards.

What categories do you think you fit into and where do you need further development or assistance?

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You might also enjoy:
+ The Startup Dictionary – Learning the Lingo #3
+ Learning From Other Startups – 6 Real Life Stories
+ Lessons Learned From A Hacker News Traffic Spike
+ Startup Weekend: What to expect? How to prepare?

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