Experience alone isn’t enough to make a startup team thrive.
, a team also needs soft skills to truly thrive. Specifically, our study shows that shared entrepreneurial passion and shared strategic vision are required to get to superior team performance as rated by the external venture capital investors.
We also found that greater team experience only leads to better performance if team members share a strategic vision for the company. Thus, when team members don’t agree on the future strategy of the firm, the knowledge and skills they have will only marginally contribute to team performance.When we talk about this balance between team member experience and passion and vision there’s a sweet spot where stellar teams seem to live.
The CEO had in depth industry knowledge, worked in the software space for years, and led the product division for Salesforce. The CFO graduated from Harvard, had worked for Bain & Company before joining Clocker and had very strong financial and strategic skills. The VP of Sales was a sales tiger who had worked as an account manager for Microsoft.
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