Experience alone is not enough to thrive. Entrepreneurial passion and strategic vision shared by everyone on the team is required to build a successful business, never-mind a startup.

When looking at business investments, investor's due diligence mainly focuses on the financial side, i.e., business model, addressable market, growth plans, etc. When it comes to evaluating the team, gut feel and intuition come into play. However, it may not be a sufficient approach when 60% of new ventures fail due to problems with the team.

The answer that prior startup experience, product knowledge, and industry skills predict the success of a new venture, is somewhat flawed because previous experience doesn't mean a team will work well together. A team also needs soft skills to thrive truly.

Building a successful startup is a long and bumpy road; without entrepreneurial passion, strategic vision, and great team dynamic , stellar resumes merely become pieces of paper.


Inspired by: Harvard Business Review - What Makes a Successful Startup Team, by Eva de Mol