Steve Blank – who wrote 4 Steps to Epiphany – one of the key books on digital / hyper-growth startups – has just written a great blog about how tech investors have moved the focus from technology to the team.
Steve, who has launched numerous startups and now teaches at Berkeley, Columbia and Stanford is expressing the view that the team is (almost) everything!
The fact that he is making this explicit – despite years of experience – makes us think that this idea is still pretty new to most people?
In fact, the number of entrepreneurs who pitch their idea – and not their team – is still massive – but it doesn’t happen on our programme.
At the Idea Alive business accelerator, we use the eTeamTool to assess and build great startup teams. We can also use it to show potential investors the potential of our teams.
We know that you already know that – but we want to just make it clear again – in case!
Hence, we accept people based on the person – not the idea. In fact, that is why we also think that the people – who work on and iterate the idea, customer and team – are the ones who should get rewarded with the majority of equity.
After all, coming up ideas is easy – putting them into practice and building teams that can deliver – well, that’s so much harder…..