We recently asked Pete Durand, CEO of Morrisville-based Integrian, to share his thoughts on which is more important to an early-stage startup: money or management? Here's what Pete had to say:
"Based on my experience, an early-stage company must focus on capital first. Companies seeking seed funding or an A-round should work to prove their concept, get an early adopter as a signed customer then work hard to fund the business with enough capital to get to market launch. This capital should focus on expanding the management team as a first priority."
Pete also told us that "prior to raising a B-round or later, a well rounded management team is critical. Most entrepreneurs and venture-backed companies do not become successful with their first product or service, but rather with a derivative based on modifications or shifts in strategy identified by a strong management team."
In another recent interview, Durand offered some additional tips for entrepreneurs raising venture capital.
Would you agree with Pete that it's a matter of finding the right capital first?