To continue our series on which is more important to startups (money or management), we asked Southeast TechInventures' Karen LeVert to share her thoughts:
"Both are SO critical, but if I must choose one in this moment I’d have to say having a solid team is most important."
LeVert, who regularly helps companies navigate the tech transfer process, told us that "you can have sufficient financing and ultimately not be a successful business due to lack of experience, poor strategies and lack of execution. As we all know the success rate of moving an idea through the start-up stage to a successful company is very low. A solid team that has 'been there, done that' will have a greater chance of succeeding, even though it’s still not guaranteed!"
LeVert concluded that "a perfect team possesses vision, start-up management experience, fundraising experience, planning and execution strengths, and trust in one another. A solid team can attract the financing needed and put the company in the best position for success."
Would you agree that building a solid team should be your first priority in growing a successful business?