There are a number of tips that can be followed for the purpose of building an effective senior management team.
One good tip is to begin with part-time workers. The simple fact is that you might not be able to afford to pay for a full-time chief financial officer in the beginning, but there is a very strong likelihood that you will be able to find one who is more than happy to work on a part-time basis. Volunteers can also be helpful.
You might even want to think about the possibility of outsourcing your management team. Look in the Yellow Pages under such categories as Employment Agencies, Executive Search Consultants, Employee Leasing and Management Consultants.
You should make certain that any prospective members of your senior management team will be a good fit for your company, so be sure to check out their backgrounds and references.