What about the Team?

As I was reading my previous post about how good the picture needs to be for an entrepreneur, I realized that I totally overlooked the team. This was not intentional as the Team is definitely very important but I have a certain view about that.. My feeling is that VC would love to have a business with a great team: Knowledgeable people, outstanding track record of success, etc.. But what you realize is that when you start working with a VC it’s for years (hopefully), and the VCs will try to have either people that are the cream of the crop for the job, OR former buddies they worked with in the past and who have been successful in the post. You should not under-estimate the fact that Affinity will play a enormous role in the choice of the team (for you and the VC). I’m not blaming them for that, would you not rather work with people you have already worked with and who have been successful rather than having to bet on a  new team?

The only advice I could have is certainly to find a someone who already had a successful startup at a key role in your team.. or be ready to hire a CEO (from the list provided by the VC ;-)) Additionally, make sure you REALLY get along with your teammates and open up issues as fast as possible. It’s easy to change things at the beginning of a company, but as time passes, things get harder..