(4 votes, average: 4.5 out of 5)
Loading ...Well, this came out of a comment on our fund announcement post. Someone asked, what do we mean by a great team. While it is almost impossible to provide a precise definition of the same, I would like to offer some things that we look for. Every team might not have all of them, but these matter (in no particular order):
- Hunger and passion, sense of purpose driving the specific business
- Relevant experience and execution capability
- Alignment of objectives - focus on scale, profitability and value creation/realization
- Team dynamics and ability to work together
- Leadership qualities such as driving change, hiring and developing top talent
- Value system match - Integrity, Intelligence and Intellectual honesty
I could elaborate on each of these, and that would make up a book. I do realize that I might have walked into a minefield with this, but feel free 
Srinivas, excellent 7 points to summarize the responsibility of the team leader (pt.1-3) and attitude of team members (4-7)..
As it is said, ‘Skills follow attitude’..
Great Team definition. I am reminded of my trainer days when I was asked a simple question - What constitutes a great team. I answered it as below-
1. All team members know the goal to be achieved.
2. All team members know their role and what is expected of them.
3. Each team meber understands - individual limitation and collective strengths
4. Each member of the team respects other indivdiuals opinion and decision
5. Ready to ask external help when needed rather than brainstorm amongst themselves to solve every single issue as a team
6. Each member agrees that collectively they can go wrong in their decisions and are willing to accept their mistakes and learn from it.
7. Ambition to move to next level in shortest possible time through hardwork and dedication. No shortcuts.
The education is not a substitute to experience. Education only complements experience.
Betting on a colt in its first race based on pedigree is foolishness without checking what it clocked in heats and training.In Sanskrit there is a saying Panditah Putra Shuntah. We can extend its applicability here as well.
I heard from a successful entrepenuer that a great team is that which works!
Rgds
Vyaas
isn’t Mr. George W Bush Yale & Harvard
http://en.wikipedia.org/wiki/George_W._Bush
Virat, sorry if I implied that you were annoying - not at all! You’ve been great in raising and discussing some of these issues, and thats what venturewoods is for - to allow multiple perspectives to get tabled. Equally the views I table are my own, and really dont seek to represent the venture industry in any manner!
Rehan,
You are right by half.
An elite Degree from a reputed institution certainly carries a huge, initial signaling effect. Much is gleaned from a deeper probe into what the team is up to, what they collectively aim to achieve and how. That scrutiny exposes the warts within as well. A good team often has a manifest ability to outline its plan of execution from an investor’s perspective besides that of its own. He has to mentally digest it and be convinced that it would indeed work. Still actual execution is a far cry, but a diligent investor certainly has a stomach for that level of risk. It could even be that he is sure of filling the gaps himself by reinforcements.
One can safely overlook the lack of his Ivy League background. Neither does he need frequent bursts of earth shattering inspiration either. Recognize that innovators and other creative types don’t wield secrets and magical talents beyond the rest of us. It is a slow process of accretion, building small insight upon interesting fact upon tried-and-true process. Just as an oyster wraps layer upon layer of nacre atop an offending piece of sand, ultimately yielding a pearl, innovation percolates within hard work over time.
Notice that the key word here is “hard work” and not Ivy League
Alok,
My intention is not to annoy readers as well as anyone. I am simply saying judging person or business proposition is very difficult. It is two way sword. I was just triggering ideas for judgement process.
Personally i worked in gameloft as game designer, which is second largest mobile gaming company. I have friends in top-notch gaming companies in India. I know the difference between local street companies and huge companies. It has difference of jet age and stone age types in technology and thinking. I personally know the competetive difference between people, idea and work.
My idea was to provoke ideas and thought culture, which should be open for everyone to think and judge the environment we live in.
You are sitting at a place where 100 to 200 proposal per month have to be judged very minutely with 100% precision and commetment.
I know commenting from my desk is totally different from commenting from your desk. The world is different the moment you change your shoes.