Assessing Startup Business Teams

Unavoidably, as a potential investor you will get  a gut feeling about the team behind a venture, and usually very soon after meeting them. This is then typically confirmed (or sometimes contradicted) by what you can discern while interacting with the team and seeing how they work over a period of time - which I wholeheartedly recommend for any venture you are looking to invest in. Evidence that can contribute to a positive belief is for example seeing that the team

• gain the respect of others by getting things done,

• are self-motivated,

• possess grit,

• have previously worked together on previous projects at school, work, or other group settings,

• have equally split equity for the long haul,

• are easy to work with and logical in management approaches,

• exhibits the founder-market-fit.

Another belief you will undoubtedly form while interacting with the founders is that of its future vision being exciting - or not. The best startups, those looking to transform entire industries, have a clear moonshot goal. The founders know exactly what they want the world to look like once their company has been successful. Not only do they articulate it well but they are able to get others - their team, investors and supporters - truly excited about it. The founding team know precisely what they are destined to become and what resources will be needed to help it get there. In other words, they aren’t just visionaries but also pragmatists able to foresee what steps need to be taken, starting with the next six months, to get them closer to achieving their big vision.