Words of guidance and insight from an experienced entrepreneur and private investor to high-tech entrepreneurs, start-up companies, and fellow investors.
Wednesday, September 15, 2010
Chemistry is important
I'm not talking about chemical bonds, but human bonds. If you're thinking about starting a company with a friend, colleague, acquaintance, spouse(!), or otherwise, make sure you all are on the same page with respect to your vision for the company. This includes initial product features, product roadmap, market niche, market strategy, company structure, company ownership, who's in charge of what, and a method to resolve conflicts, which inevitably will arise. I could go on, but you get the idea. Equally, investors look for this same chemistry, not only between the founders, but also between the investor and the founders. If an investor gets a funny feeling about his/her interaction with the team, the potential for investment may be in jeopardy. So be sure to start out right by building a team of entrepreneurs who are all in sync with you and are team players.
Labels:
founders,
management,
relationships,
start-up
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