Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
Vince Lombardi once said, “Winning isn’t everything, it’s the only thing”.
In startup investing, “Team isn’t everything, it’s the only thing”.
All problems will ultimately be solved by the team. If the team can’t solve it, then the business will fail.
In many years of angel investing, almost all failures trace back to the team not being up to the task.
In some cases, the investors underestimated the task, but in the end, it’s the team that must face it.
In reviewing a deal, the investor often makes the mistake of matching the team to the current problem but not future problems.
In the earliest stages, one looks for a team that can build and sell the product, but will that same team be able to grow the business and later scale it? These are the future problems that must be solved.
Hopefully the CEO will change the team to match the needs of the business.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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Copyright (c) 2020, Hall Martin and investorconnect.org. All rights reserved.
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.