Fred Wilson of Union Square Ventures asked an interesting question in his post today about whether people or technology should come first in building a scalable venture. I think he intended the question to refer to whether or not the technology consumer should drive the design or the technology developer.
In direct response the question he asks, I suspect that examples of people driven and technology driven successes--both--abound.
A more interesting question might be, "which is more important, the entrepreneur or the technology?" I have met some incredible technologists in my experience, but some wouldn't be able to lead themselves out of a wet paper bag if their technology were in there with them!
The key to a great deal, and I'm sure most VC's agree, is the entrepreneur and the team of executives he or she has chosen.
One of the questions I'm most frequently asked is, "what makes a good entrepreneur?" Surprisingly, it isn't closely associated with technical skill. It isn't gender, age, race or religion dependent.
The one sure way to know great entrepreneurs is to find them after they've had a big success and get involved in their next deal.
This begs the tougher question, "how does one create that first success without a track record?" A not particularly helpful--but accurate--response is simply that a real entrepreneur finds a way.
Most frequently, the evidence that experienced investors use to identify successful first time entrepreneurs is the team they build around themselves. This will usually include people who are simply smarter and better qualified than the entrepreneurs themselves, people with the experience to execute flawlessly and the loyalty to support and encourage their leaders.
While that isn't the only way to succeed, I think it is the most recognizable. What do you think?
Comment Preview