Right from our earliest days in temporary management, we have sometimes wondered which type of assignment would be the most fun, for which assignment we would most gladly provide our experience as managers. And from the beginning we have thought it would be our involvement in the start-up of a new company. Seeing a company being born, working alongside the entrepreneur who has had the idea, drawing up the Business Plan and discussing the various elements of the business strategy, is surely exciting.
The product or service itself, production, pricing, fixed and variable costs, image, personnel and organizational structure, location, distribution, quality, the necessary financial resources, working methods, the name of the company and branding of the product/service. We arrive at all these elements through detailed discussion and analysis with the new entrepreneur. He/she has come up with the ideas but often lacks a broad enough understanding of the industrial, commercial, financial and technological options offered by the market.
There are several ways in which we can provide assistance in this type of case.
The first is to act as the professional and critical soul of the entrepreneur in drawing up a Business Plan. Here our role is to provide consultancy and information rather than managerial support.
The second is managerial support, working together to set up the new company, taking all those actions required to get it up and running: company formation, shareholders’ agreements, choice of production locations (whether in-house or third parties), selection of the senior management team, implementation of IT systems, set-up of financial control systems and so on.
The advantage lies in having an experienced manager support the new entrepreneur in the initial start-up phase. Once completed, he hands back management of the newly created venture to its owner.
The start-up assignment lasts between 6 and 12 months