Businesses are built (or stifled) by people. Make sure YOU and YOUR TEAM have fresh legs for the mountain stages. Headroom, in collaboration with the SA Innovation Summit and the TechTribe Community, introduces a tailored “Developing the Founding Teams” coaching, mental health, and psychosocial support programme to inject some serious Power Skills into your performance.
On 10 February 2022 we hosted an amazing Masterclass on Start-Up Team Readiness with Headroom Mental Health. The masterclass was a practical and engaging masterclass that explained the importance of team readiness alongside business readiness when it comes to being ready for your top game.
The aim of the masterclass was to teach entrepreneurs a few simple practices to include in your daily start-up excellence repertoire. Learn Actionable Strategies to:
- Deal with ANXIETY, FAILURE and DISAPPOINTMENT.
- Foster PSYCHOLOGICAL SAFETY for your team to perform and innovate.
- Build an INVESTIBLE TEAM alongside with an investible business.
- Recognize the INVESTMENT READINESS SUPPORT that is right for YOUR business.
Key Points from the Panel
Patrick Krappie, Acting CEO Technology Innovation Agency
Entrepreneur Development Ecosystem – What works and what doesn’t!
What are the critical success factors for start-ups?
- Finding availability of funding for start-ups
- Lack of adequate capital in the ecosystem is a challenge for start-up’s in South Africa
- Accessing your minimum market requirements to have availability of products: MVP, need in the market for your product, access to market (private/corporate markets)
- Just general market: Appreciate the uptake of possibility in the market.
- Enterprise Development Support: Not enough Technology Support programmes.
3 Things to think about as a Start-Up
- MVP or proof of concept.
- Size of product, the company – You need to have systems in place
- The team – The team will succeed if the state of mind of the team are in the right place. A coherent team is important, the culture and how they work together. Work like balance is important, the company should be an embodiment of your vision
Buntu Majaja, Director: Entrepreneurship Ecosystem and Digital Innovation SA Innovation Summit (SAIS)
Business Readiness + Team Readiness = Investment Readiness
The team’s impact on startup success is more critical than most believe
Starting a company, is very difficult and by its nature when you are building a company entrepreneurial, you do not know enough and if you did know and you were rational, you would not start a company.
No entrepreneur has ever made it past the VoD and said “It was a walk in the park”
- A business is nothing but a legal registration representing a group of people.
- Early-stage investors invest in “team” over opportunity, space, technology, traction, etc.
- The YC Mentor Anu Hariharan says being a 0-$1M or 0-$1B is set in the first 10-20 people.
- It is very difficult to think big and act small. Be unwavering on the strategy but flexible on the tactics
“We need to talk about this, destigmatize and systemize it as part of entrepreneurship support.”
Nambula Kachumi, Founder & CEO WEAC Zambia
Entrepreneur Development Ecosystem – What works and what doesn’t!
What are the critical success factors for start-ups?
- Finding availability of funding for start-ups
- Lack of adequate capital in the ecosystem is a challenge for start-up’s in South Africa
- Accessing your minimum market requirements to have availability of products: MVP, need in the market for your product, access to market (private/corporate markets)
- Just general market: Appreciate the uptake of possibility in the market.
- Enterprise Development Support: Not enough Technology Support programmes.
3 Things to think about as a Start-Up
- MVP or proof of concept.
- Size of product, the company – You need to have systems in place
- The team – The team will succeed if the state of mind of the team are in the right place. A coherent team is important, the culture and how they work together. Work like balance is important, the company should be an embodiment of your vision
Greg Groenmeyer, Executive Coach Headroom Mental Health
The biggest challenge for start-ups to scale into the new phase of their business is the shift from a small business to the next phase:
- Beyond me – building a performance culture
- Growth depends on onboarding the right people
- High performance teams deliver world class results
- Psychological safety enables Collaboration and Innovation
Jenean van Muylwijk, Clinical Psychologist and Coach Headroom Mental Health
Defining Mental Health
- Mental health encompasses our emotional, psychological, and social interactions.
This is about you the individual because you are the center of your business.
It’s all about YOU
- Self-Awareness – Your Authentic Self
- Identity – Peeling back the layers
- Communication – Creating Connections
- Acknowledge the Status Quo (both in yourself and your team)
- FIND yourself, LOVE yourself, BE yourself (everyone else is taken)
- Stay connected with others (make time)
- Develop “POWER SKILLS” (they are far from soft)
REACH out – ask for help (speak to an expert – you matter)
