Monday, November 14, 2005
A Startup's Most Important Asset
By far, the number one most valuable asset to a startup is human capital, this is more imporatant than an A+ business plan, technological advantage or money in the bank. The first 20 employees are key because they will create the company culture and work ethic that all future employees conform to.
Experience and ability only add up to 50% of the equation when putting together a solid startup team, the other half is is the drive and determination to win. Successful entrepreneurs do startups for 3 reasons:
1. You love to build companies and just couldn't see yourself doing anything else
2. You want to make millions and can't work salary the rest of your life
3. You want to be famous and/or enjoy working on cutting edge technology
If you're looking to hire someone, you better make sure that they have at least of the 2 of the 3 above.
Experience and ability only add up to 50% of the equation when putting together a solid startup team, the other half is is the drive and determination to win. Successful entrepreneurs do startups for 3 reasons:
1. You love to build companies and just couldn't see yourself doing anything else
2. You want to make millions and can't work salary the rest of your life
3. You want to be famous and/or enjoy working on cutting edge technology
If you're looking to hire someone, you better make sure that they have at least of the 2 of the 3 above.
