Does a startup’s success depend more on the idea or the team?
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CEO in Services (non-Government)2 years ago
Both are important but my answer is neither. The words timing is everything is never truer than in startups. Vice President Strategy ( Engineering and Digital) in Software2 years ago
Thanks for your comment, Joanne. Timing is never right or wrong ..it depends on us to make the time right.
Solution Architect in Energy and Utilities2 years ago
I can't agree more, ; I think Orkut is a good example, the social community that was created when people barely had internet access, compared to Facebook or other social platforms that were created in digital era.
One key factor in startup failure is persistence and lack of purpose. I saw many startups who are planning their exit strategy before their business plan, successful businesses are in in the game for the long run, and have a strong purpose that drives their strategy.
I remember the last scene of movie the Founder, when Dave McDonald asked Ray Kroc, how did you do it, he said one thing " Persistence ".
CTO in Transportation2 years ago
The team is probably the most important thing. It has to be a good team, not only regarding capabilities but in their ability to work together and complement each other. The ides is also important but as stated below, a good team will understand how to measure if the idea or the approach is the right one early on and correct or pivot accordingly.
But even with the right idea and the right team there is a lot to be said about time to market and a bit of luck never hurt.
IT Executive in Healthcare and Biotech2 years ago
There are thousands of great ideas that never make it to market, or even get to be a viable offering. The post/comment below is spot on, and it's more than the team. Secure Facilities Information Technology Manager in Manufacturing2 years ago
I think the idea would have to be the leading factor towards startup success. The idea has to be the primary ignitor that leads to a great team, which can then lead to success.
Every startup’s team needs to possess three key qualities:
1. Passion: If they're passionate about working in this startup, things will become easier.
2. Commitment: If they are not committed, then their passion will not have an impact. Anybody can say they’re passionate, but the commitment has to be there as well.
3. Adaptability: When people join a startup organization after working in an enterprise, they may not be able to adapt to the culture.
For example, Infosys is now a billion dollar company, and among the top five Indian IT companies. It was started way back in 1981 by four or five passionate people. They’d been working in some IT company at the time, but they were all inspired by the same vision. They were passionate, committed and they were adaptable. That's how they built such a successful company. So the most important factor is the people, not the idea. People think of ideas all the time. If the team has these qualities, they'll think of many ideas to draw many investors.