Every investor is looking for the “dream team” of executives to put his money on.
Often I find that experienced investors flip to the management page of a business plan, even before they read the product description. That’s how important the people are.
Martin Zwilling is CEO & Founder of Startup Professionals, Inc.; he also serves as Board Member and Executive in Residence at Callaman Ventures and is an advisory board member for multiple startups.This post was originally published on his blog, and it is republished here with permission.
This may not seem fair to all you first-time entrepreneurs, but wouldn't you choose to bet on a horse that has been in races before, and won, rather than an unknown in his first race?
The size of the race is also important. Fortune 1000 CEOs usually don't make good startup CEOs, and vice versa.
You may have great credentials as a public servant in your home town, but that won't get you money to build a job board on the Internet, or start a software company.
You can learn a lot about a new technology from Wikipedia and scouring the Internet, but probably not enough to qualify you as CEO of a new company in that area.
Introverts and loners need not apply.
Your job as CEO involves heavy doses of selling the merits of your company, lobbying (begging) for money, and convincing other executives to help you or join you.
To be respected at the top of the pyramid, a CEO must be able to clearly communicate the vision of the company to inspire investors, the team, and customers.
Of course, before you can communicate a vision, you have to have one.
Not merely relentless and passionate about your journey, but able to overcome novel difficulties (per Paul Graham).
Being relentlessly resourceful is definitely not what you learn in big companies, or in most schools.
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