Characteristics of Successful Businesses
One of the strongest assets in building a successful business is the management team. You often hear VCs or other investors say if they had the choice between an A product and a B management team or an A management team and a B product, more often than not they would select the B product with an A management team. The management team is important in developing and executing the strategy and building credibility with your investors. The depth and breadth of their experience and ability to meet the challenges of a start-up enterprise will be critical to long-term success. If this were a horse race, the management team is your jockey. Management teams should reflect experience in sales and marketing, finance, operations and strategy, preferably in the same industry. If the company is technologically focused, having strong technical expertise is essential. Sometimes in a start-up situation you may not always be able to attract the talent that you need so it is important to find other ways to get it. Continue reading “Characteristics of Successful Businesses” »