The Startup Team
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the original well-thought-out business plan becomes irrelevant.
And finding product/market fit in that chaos requires a team with a combination of skills.
What skills? Well it depends on the industry you’re in, but generally great technology skills (hacking/hardware/science), great hustling skills (to search for the business model, customers and market), great user-facing design (if you’re a web/mobile app), and by having long term vision and product sense. Most people are good at one or maybe two of these, but it’s extremely rare to find someone who can wear all the hats.
It’s this combination of skills is why most startups are founded by a team, not just one person.
While building these teams are hard in the real world, imagine how hard it is in a university with classes organized as silos. Business school classes were only open to business school students, engineering school classes were only open to engineering school students, etc. No classes could be cross-listed. This meant that you couldn’t offer students an accurate simulation of what a startup team would look like. (In our business school classes we had students with great ideas but lacking the technical skills to implement it. And some of our engineering teams could have benefited from a role-model to follow as a hustler.)
So the next time we taught, we managed to ensure that the class was cross-listed and that the student teams had to have a mix of both business and engineering backgrounds.
I think we’ve finally got the team composition right—relearning all the lessons investors already knew.
But now on to the next goal000getting our mentor program correct.
- Finding product/market fit in startup chaos requires a team with a combination of skills
- Hacker/Hardware, Hustler, Designer, Visionary
- At times an A+ market (huge demand, unmet need) may trump all
- Getting the Mentors right is the next step