Good people poorly managed is as fatal as a good idea poorly executed
Answered => “Since successful startups are all about execution, why do most founders try to come up with a unique idea?” on Quora.
=> My answer…
Yes, I think Joshua Gutman makes a damn good point. (His comment is under Michael Wolfe’s answer).
And to that I’d like to add: Leadership / Management.
Yeah, I know the list can go on and on but in total these are the Big 4 (in no particular order):
- People / Team
- Leadership / Management
Good people poorly led / managed is as fatal as a good idea poorly executed. On the other hand, a solid team, well managed can have great execution such that a good idea can be very very successful.
One additional tidbit, if you don’t mind. Embracing the power of this list is also important because most people have a tendency to look at a failed company and blame the idea. They then write off that idea as not worth exploring because Such & Such Inc failed with it.
Actually, S&S Inc might have failed because of 2, 3 and 4. The idea might be tip-top. It’s the other legs that couldn’t hold the weight. Interesting, yes? :)