Did you know that...
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65% of startups fail due to team issues
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#3 reason for startup failure is not having the right team
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64% of VC's report that the team is the most important factor in startup success
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80% of leadership teams are ineffective
Well designed and effective startup teams have the potential to solve the world's compelling challenges while creating real value. Yet calling a team a "team" doesn't make it so. As with many teams, startup teams are at risk of being less than the sum of its parts rather than more. Bringing great ideas to reality in the competitive world of startups requires having a great leadership team in place. Investing how your startup team works together can radically increase your chance of success, make you more attractive to potential investors, improve resilience when under stress and help you make faster and better decisions.
Would you like to learn more about the world of startups? Listen to this episode of the Team Coaching Zone Podcast titled "Team Coaching Learning Conversation: Startup Teams & Team Diagnostic for Startups."
On this episode Dr. Krister Lowe and Melissa J. Sayer talk to an eclectic team of professionals who shared their experiences and lessons learned working with founders and start-up teams. They also shared their experiences working on developing an assessment focusing on start-up teams: "Team Diagnostic for Start-ups (TDFS)".
6 Team Conditions recently launched the Team Diagnostics for Startups (TDFS) assessment. It is based on the most validated and predictive team effectiveness framework--the 6 Conditions for Team Effectiveness--that predicts up to 80% of the performance in any team. The TDFS assesses the effectiveness of your leadership team along 6 dimensions that are critical to any startup. It uniquely brings together the best validated research on high performing teams with the specific needs and challenges of startups. These 6 dimensions, referred to as Success Factors, are key in setting up your team for future success. If not addressed, they may become tripwires that put your leadership team at risk of underperformance or failure. Conversely, if they are in good shape, you are in a position to be a high performing team and achieve success.
Learn more about the 6 Success Factors and download a sample TDFS report here.