I don’t know if you have noticed, but the founding-world has different opinions when it comes to finding the perfect setup for a startup. Some say: „The product is the most important thing, just make sure you have a great prototype and present it to investors – everything else will come later.“ Others advise: „It’s all about the team. As a founder, you don’t have anything at your hands but yourself, so make sure you have a team with the right capabilities and experience that investors can trust in.“ Then, there is a third group that believes:“No matter what product, make sure the customer is understood and the brand is created to perfectly target this customer.“
Where is the truth? Is it one of the three or is it somewhere in the middle?
I have started some discussions on LinkedIn and Xing to get some feedback of the community and this is the summary of the feedback so far:
- There are advocats for each element, Team, Product and Brand. However, I guess the reason is because everybody defines the three terms differently.
- Reason why the Team should be most important is that it is defining product and brand and therefore responsible for the fate of the startup.
- Reason why the Product should be most important is that without the product there would not be a copmany.
- Reason why the brand should be most imporant is because it ties together customers needs with the product.
These are just the first impressions. I will do a more in-depth evaluation once the discussion has progressed.