While we agree with the fact that a visibly bad team from the starting itself is a recipe for disaster, I am not sure how to interpret the oft head statement saying “Startup is all about creating a good team”, or “good team makes a startup successful” or other permutations of the words, ‘Good Team’, ‘Startups’, ‘Success’.
The reason – well, in hindsight, the teams are always good. Basically, the logic flows from the below chart:
As an investor, the interpretation is simple – “if I feel the team is bad, I don’t want to invest.”
But then, what does this mean to the entrepreneur. Should they focus on creating teams that the world feels is a good team. After all, that’s the only way to be successful, right?
I would say, beauty lies in the eyes of the beholder. You are the entrepreneur. Focus on understanding your needs. Focus on the capability of your team to fulfil those needs. If you feel your team is good…and I mean “you” feel….then probably it is! Just keep working on your product and your business. Focus on building the startup and your business, instead of hiring an ‘IITian’ because as per the investor, a good team is not complete without an IITian – or a ‘Bansal’ now-a-days.
Once you are on the way to success, everyone will feel that the team was good. And even if they still don’t, well, it does not matter.