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The goal of your power team, is that you have people that can act on the most critical areas of business.
For that reason:

A. Someone in your power team should have expertise in Finance, Marketing, Sales and Operations. (You could be one or many of these areas, if you have the knowledge and expertise, and this statement applies for all of the following points).

B. Someone in your power team has experience in your industry.

C. Someone in your strategic partnership has good credit score.

D. Someone in your team is already a successful entrepreneur. You should have a mentor, or a coach in your power team, as long as they are familiar with entrepreneurship.

E. Someone in your team has network connections with venture capitals, bankers or other potential funding sources.

F. Put together a Board of Advisors as members of your power team. They counsel the founders, but have no voting power when it comes to major company decisions. Your board of Advisors should include:

a. Attorney
b. CPA
c. Insurance Broker
d. Entrepreneur Coach

One type of board that many entrepreneurs, women entrepreneurs included, neglect to establish is a personal board. As important as any other board, this is a handpicked group of people advising and coaching you you on your career and personal growth.

These are people you trust, and people who will help you achieve your goals. Your mentor will let you know when you are out of balance, micromanaging your business instead of delegating, and stuck in the mud instead of moving forward. They provide a safe place for talking things through.

Carmen Shearer with Entrepreneur Women Coaching and Training, LLC.
http://www.entrepreneur-women-coaching.com
© Copyright 2009 Entrepreneur Women Coaching and Training, LLC

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