I have not personally started a team, but I have been a student and mentor with three vastly different teams, and can offer my views from that perspective.
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Originally Posted by NotInControl
1. Get parents involved as early as possible. Invite them to meetings and keep them engaged. They will be the catalyst which keeps students involved.
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This, in my opinion, will get you more miles than any of the other many strategic initiatives you'll need to execute on taking on the forming of a new team. It will pay off in spades, however you choose to do it: encourage a non-engineering mentor group, personally invite parents to meetings every chance you get - especially that all important first meeting and every one after that, create a parents only mailing group, ensure there is parental representation in all major decisions, etc. Logistics, organizational sustainability (financial and in terms of student retention), excitement/enthusiasm in the stands - these are just a few of the myriad of challenges that are best solved utilizing an engaged parental support base.
There are already lots of wonderful suggestions on this thread. The fact that you have the humility and enthusiasm to start this discussion, to me, means that you're already well on your way to a fantastic team. I wish you the very best of luck on your endeavor.