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Startup Stages Stage Teams
Earlier this year, a study of United States Census, Business Dynamic Statistics, by Ecliptic Capital’s Christy Cardenas, revealed that new businesses account for almost all [net] new job creation, and 20% of gross job creation. In a world in which 90% of startups fail and 54% of new businesses end within the first few years, a known challenge for entrepreneurs should be top of mind. It all comes down to people.
The Right Team
A diverse team with different skill sets is often cited as being critical to the success of a company and failed startup post-mortems almost always reveal the same reactions, that a founder wished they had that technical co-founder from the start, or that they’d had a partner who loved the business aspect of things just as much or more.
Ben Yoskovitz, founder of Standout Jobs, wrote a decade ago of his experience which should ring just as true today as then…
“…The founding team couldn’t build an MVP on its own. That was a mistake. If the founding team can’t put out a product on its own (or with a small amount of external help from freelancers) they shouldn’t be founding a startup. We could have brought on additional…