Another popular topic of conversation for growth stage entrepreneurs is capabilities on the team. Capabilities, like it sounds, is a fancy way of talking about the talents and skills of people in the organization. Often, the term capabilities is used in the context of more specialized or difficult to find skills, especially when there are gaps or deficiencies.
Here are a few thoughts on capabilities in a startup:
- Think about the capabilities needed over the next three years. What’s in place now? What’s going to be needed? When?
- How do capabilities align with future fundraising? Need a CFO before raising the next round?
- What team members can their existing capabilities? What team members need someone brought in above them?
Capabilities is a critical element of scaling a startup. Start planning early and be proactive about growing the team as the company grows.
What else? What are some more thoughts on capabilities in a startup?