How to build a successful venture studio: Recruiting the right people

Running a venture studio requires more than just good ideas – its success also depends on having the right talent that can execute on those ideas. And quite often, the individuals you’ll need are not the kind that can be typically found within large corporations. So, how do you assemble a team that will make your venture studio stand out? We have listed a couple of factors that you should consider when recruiting to your venturing unit.

Entrepreneurial mindset

A venture studio requires individuals who possess an entrepreneurial mindset, with the ability to take risks, experiment, and iterate quickly. Look for candidates who are comfortable with ambiguity and have a track record of thinking outside the box. Remember, though, that entrepreneurship is a skill that can be acquired so don’t dismiss a candidate just because they lack entrepreneurial experience – look for the right mindset. 

Diversity

A diverse team can bring a range of perspectives and ideas to the table, fostering a culture of innovation and creative thinking. It’s important to strive for diversity in all aspects, including gender, ethnicity, and professional background.

Network and connections

A strong network and good connections can be invaluable for a venture studio, helping to identify potential venturing opportunities, partners, and customers. Incorporating individuals who have an extensive network both in the relevant industry as well as on the inside of the corporation is indispensable. 

Skills and experience 

Finally, you should look for individuals who have the necessary skills and experience to execute on the studio’s goals. This typically includes expertise in areas such as product development, innovation methodologies, strategy and sales, but can also be more specific skills depending on the scope of the venture studio. 

Corporate vs. startup experience 

Although the entrepreneurial mindset is of utmost importance, the team will also benefit from having members who understand the corporate way of working and can bridge the gap between the venture teams and corporate management. 

In the end, what makes a venturing team successful is the same as any other team – good dynamics, complementary skills and effective communication. However, by balancing these various skills and characteristics when sourcing talent, you will be able to create a good mix of individuals to be part of your venture studio.