Startups Dreaming of Success with Just an Idea, But Reality Is Not That Simple.
Today, many people believe that having an innovative idea is the key to success. However, what truly matters is not the idea but the team’s capability]. As Bill Gross revealed, the most significant factor in a startup’s success is [timing, and the second is the team. The idea only comes in third. So why should we focus more on the team than on the idea?
1. The Team’s Capability Brings Ideas to Life
A young entrepreneur approached me with a big dream of changing the world through AI technology. His idea was fascinating, and his technical skills were excellent. However, until the business actually launched, no one could guarantee whether the idea would succeed in the market. Eventually, this entrepreneur had to pivot multiple times, searching for new ideas and business models.
Without his team, he might have given up during this process. But the team persisted through many failures and challenges, ultimately finding a successful business model. Today, they are recognized as a global company. What was the key here? It wasn’t the idea itself, but the team’s relentless efforts and adaptability.
2. Failure Makes the Team Stronger
For a startup to succeed, it must not fear failure. But it is not just the idea that overcomes failure; it is the strength of the team. Through failure, the team becomes more resilient and learns invaluable lessons that no idea alone can provide.
For example, a startup launched a service they were confident many people would use, but the market’s response was cold. However, they did not give up. Instead, they analyzed the problems and worked hard to solve them. Eventually, the team developed a better product and succeeded in the market. This was possible because of the team’s capability and determination.
3. Team Culture Matters More Than Ideas
Running a startup brings many challenges, and what matters most during these times is the team’s culture. To overcome difficulties and move forward, it’s crucial to build a culture of trust and challenge within the team. A successful team does not fear failure but learns and grows from it.
For example, a Silicon Valley startup team was initially composed of members from different backgrounds, but they trusted each other and collaborated to create new ideas. This team culture played a crucial role in their continuous development and building a successful business. Today, they have become a decacorn, a status all startups dream of.
Conclusion: Ideas May Change, But Team Capability Accumulates
When running or investing in a startup, we are often captivated by ideas. But what truly matters is not the idea, but the capability of the team that will bring that idea to life. The team grows stronger through failures and challenges, and this strength accumulates over time. Thus, it is the team’s power that leads to the success of a startup.
The next time you run or invest in a startup, focus more on the team’s capability than on the idea. With a strong team, any idea can succeed.
Reference: TechCrunch, “Beeble AI raises $4.75M to launch a virtual production platform for indie filmmakers”