Venture Capitalists Value Good People Over All Else
Business ideas are meaningless. It is the execution of the idea that means everything. That is why betting on business success is all about people or to quote a popular phrase...management, management, management.
Entrepreneurs are always afraid that someone has stole their ideas...guess what someone has. but it is irrelevant. It is the execution of the idea that matters.
For example, is a discount airline a new idea? Why can only Southwest make it work? It's all about execution!
In betting on a company look for a management team that has worked together before. A team that has succeeded and failed before. One that has humility and you will find a good team to bet on!
From Barry Moltz. To which the Business Pundit adds:
Barry writes that he would rather have an "A" team with a "B" idea than the other way around.
Last week I was listening to a panel of directors for angel investment groups. All of them said this same thing - It is the people, not the idea, that truly determine the success of the business.
via Business Pundit