The entrepreneur faces a moment of truth, when he and his partners have grown the company to a level sufficient to bring the next level. At this point it is essential to hire a professional and functional head that a CFO. Obviously, the senior manager has to fill the skill set that the founders may lack. It should also be recognized by the founders of this skill set that is absolutely vital for success.

The founding partners have difficulties (especialmentecuando the founders are friends and family) to cede control to appoint chief financial officer, as it also means giving up some powers and trade secrets (which the employer is paranoid).

Six things to consider while creating a senior management team are as follows

Treat and the primary source of network professionals.

It may not be the best person for the job, but the trust is an important criterion at this stage, esp. a chief financial officer. In circumstances where you can not find people that match at least 50% of all skills, then use a professional headhunter and make extensive reference checking.

They have an extensive interview process to determine the adjustment

For a company at an early stage, it is important that the senior manager can start running faster. This general perspective must agree with the vision of the founders, must have a first hand experience of the culture of the company and should be exposed to the business model. After both sides are convinced, then the perspective should be made an offer. One can not overemphasize the need for extensive interview process and prolonged.

They have a defined job and also describes the powers will be delegated

Entrepreneurs are very task  activity driven. As they are not great in the repression detailed job description that describes the scope of work, main responsibilities, key factors of success and power that is delegated to the director of the top. The senior manager will typically be from the environment that he expects the job description to be given. Employers can take the help of consulting a map of the different skills they need and how they should develop. Implement a performance management system as a scorecard, and explain to senior management about the role they play in the creation of value and what follow-up measures the value created by an individual, team, and business function.

In many companies are working in a rapidly changing environment, it is important to inform directors that the business tactics can change frequently, which will affect the job requirements and key success factors. It is useful to define the flexibility as a key competence and the sound of senior managers from the beginning.

Work based on compensation and a credible risk-return equation

Most early stage companies may not be able to attract talent by paying the best in its class, pay or benefits. In addition to not offer the security of a good established brand. As any senior manager to join the company at this stage is to take a certain amount of risk. Compensation should be a significant rise in the event that the senior manager is able to achieve desired business objectives, and the company achieves a desired range. Although ESOPs are a good tool for senior management to tie in with the future of the company, most entrepreneurs do not have a disciplined approach to work out the business valuation, capital structure, etc. can help some consulting used to resolve this, and report to senior management. Foreign aid makes the process objective and impartial, and get greater acceptance by senior managers.

A useful practice is to look at the valuations of the companies listed on the domain, and the parity of its valuation of the company accordingly. This comparison is also easy to understand. Normally, a pool of 5.15% is necessary.

Founders who spend much time with high and medium

Founders are usually quite passionate about their products and their customers. They are not used to spend much time on their operators. This can seriously affect the alignment and motivation of the senior management of a growing company. The founders need to touch base certain disciplines (30 minutes of meetings or at worst, a telephone call), with its senior managers on a daily basis. They need to work consciously in the program, which is the team to spend quality time together, plan together, review together and often resolve problems that are causing confusion  conflict.

Most of the founders will be surprised by my recommendation of at least 33% of their time committed to the senior management team. But there is no point in hiring professionals, if not aligned, motivated and guided by the founders.

Mindful of the work on soft issues of culture, employee morale and organizational climate

While a lot of examples abound of great work culture be created consciously (as the culture of the University of Google) each organization has its own value system, have their own specific cultural context for the vision, beliefs and personality of the founders. Most of the founders are not very aware of the culture they have created and are not equipped very determined through a strategy of development of the rituals, events, activities supporting the company's culture and increase employee morale. You may need to use outside help to define and manage the cultural and organizational climate map.

Founders must be aware that senior managers working for thousands of motivations esp. to early growth companies. One of the main motivations is to work in an exciting vibrant company and a motivating environment. In addition, it also acts as a major draw for potential recruits (an oasis in a desert of corporate monotony of hunger). Simple practices such as management policy of open doors, table of company news, company outings night, interesting design work spaces, opportunities for interaction (company cafeteria, gym etc), flexibility (telecommuting , schedules, etc.) to promote volunteerism nonprofit organizations etc. can make a big difference to the morale and motivation senior management.