The speaker Bill Gross who has founded many startups and has incubated many others speaks about why some succeed and some fails. With his research of over hundred startups, he was surprised to see one factor that stands out from the others.
He started his first business at the age of 12, when he sold candy at the bus stop in junior high school, he went on to make solar energy devices, loudspeakers. And, 20 years ago he started Idealab. With many successes and failures he learnt a lot from those failures.
He goes on to quote boxer Mike Tyson,
“Everybody has a plan, until they get punched in the face.”
And I think that’s so true about business as well. So much about a team’s execution is its ability to adapt to getting punched in the face by the customer.The customer is the true reality. And that’s why I came to think that the team maybe was the most important thing.