First, have your team set goals, but make them reasonable. For your first race try something which is perhaps 1 - 2 days long. Longer races not only require more resources, but also much more preparation time. A shorter race will give your team a chance to explore your team's dynamics, as well as find ways to increase your team's efficiency as a group. It is easy to overlook things in training sessions which will become blatantly obvious after being out on the trail for two days with no sleep. In addition you can learn by watching the other teams in the competition. You will be thankful for having previously acquired this knowledge when you are on a 7 - 10 day race.
Second, this is one that cannot be stressed enough, and is one of the biggest mistakes made by inexperienced racers. Plan ahead; be sure to bring enough water. Dehydration is serious, and can be life threatening. In high heat or humidity it is very easy to become dehydrated. It is very easy to go through a few liters in a couple hours. Don't under estimate your water needs. You might be able to get away with carrying less water with you if you can identify water sources (lakes, streams) along your way where you can get additional water. But don't forget to use a water purifier or water purification tablets!