Key ingredient responsible for startup success? Poll👇

Question

If you were to select a single most crucial element that determines the success of a startup, what would it be? 🧐

Let's figure it out...

Vedran Rasic · Accepted Answer

I found these two videos to be very indicative:

1. 2015 - The single biggest reason why start-ups succeed | Bill Gross https://youtu.be/bNpx7gpSqbY

2. 2016 - The surprising habits of original thinkers | Adam Grant https://youtu.be/fxbCHn6gE3U

Balvinder Singh Powar · Answer

Strong founding team then fast flexibility regarding market fit

Luka Vasic · Answer

Nothing can work without people, even with no money a team can make things work.

Jakob Thusgaard · Answer

It's clearly TEAM. Agree with @balvinder_singh_powar1 - mostly.

Maybe it's too complex to be boiled down to a single element. Especially any of these 5, which have overlaps. For instance, aren't most of the factors relying on "Team".

Timing - the decision to take your offering to market NOW is a Team decision. A good team has a higher chance of getting it right.

Speed of Execution - the speed with which you do all the things and iterate towards what works. This too is a team function.

Capital - maybe the TEAM can afford to not get paid for a while. Maybe the TEAM has capital from previous ventures. Maybe the TEAM needs to use existing network to raise capital or use experience from previous funding rounds. The team...

Vedran Rasic · Answer

@balvinder_singh_powar1 thank you for sharing your thoughts, Bal. Always so happy to hear from you my friend. 🙏

Vedran Rasic · Answer

@nikolanoxious I am sure Nikola :) The reason it's done this way is because when you polarize things and get people to openly debate we all collectively get more value. It's all these things combined and millions of other activities, luck etc that come into play but this way we get more value. Does that make more sense?

Vedran Rasic · Answer

@maxwellcdavis well put! But alignment on the objective. Right?

Vedran Rasic · Answer

@maxwellcdavis thx Max. What would you say are the signs of a healthy team in your experience?

Misha Krunic · Answer

If by a team you mean a smart and passionate group of people who are able to communicate without any issues, then I think that's the obvious answer.

Timing plays a role, definitely, but I still think team comes first.

Maxwell Davis · Answer

@vedranrasic I think it's diversity in both thought and skills

Maxwell Davis · Answer

If you have the opportunity to have a team then that's definitely the key success factor just because no one can do everything

Jakob Thusgaard · Answer

@balvinder_singh_powar1 @vedranrasic I've watched that video several times. I think it misses the point that TIMING is a result of TEAM.

Answer

@vedranrasic Nope, not talking about traditional structures here! Our teams work on Scrum framework, and it has driven some crazy outcomes every now and then! Scrum helps achieve the pace we look for in startups of todays day and age.

Answer

Team and only team! Without a super self-managing team, that believes in fail fast learn and fast framework, no startup can scale! or even think of scaling! :D I believe.

Nikola Dimitrov · Answer

I think this will make more sense if there were multiple choices or ordering these from 1st - last place. I still think there are at least 2 things from the list which could be crucial and its hard to split.

Key ingredient responsible for startup success? Poll👇

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