Ughhh. The "C" word. I'm sure you all know how important it is to have a great team with people that you trust will deliver great work every time. I'm even more sure that we all know people that are committed to a business work with more passion and deliver results beyond expectations. Some businesses are lucky and the founding team members all decide to stay on to realize the dream, but my scenario was slightly different.
My founding team started with our idea and we saw that it had potential from the favorable feedback that we got from judges at various national and international competitions; then we graduated and the real world hit us - each member had to make a choice between stable corporate life and a start up with possible potential.
Everyone wanted to contribute to a small portion of their time to work on the business. Let me tell you now - part-time contribution does NOT cut it. Do you think you have the greatest idea on Earth? Well if that's seriously what you think...wouldn't you want to contribute every waking moment to realizing your idea? Yes. That's what I thought.
Before you incorporate and try to seriously start a business, make sure that you have the commitment from your entire team; people that want to stay on because there MIGHT be some potential but can't contribute all their effort to it for one reason or another just aren't a fit for a start up business. I know that many individuals have mortgages to pay, kids to feed, etc. but that just means the start up life may not be for them. I'm fortunate that I have a minimum amount of commitments so I can pursue my dream.
The bottom line is that your team should be aligned to building your business 24/7; not when they have spare time.
If you have stories about your business team that you want to share please do post it in the comments!