Ironically, it seems that the original idea is often the first thing to be discarded in start-ups. What gets startups to success always seems to be the incredible people who gather together. Then the most important step happens…
The right idea emerges and gets executed.
That of course begs the question: Why do we always build startups from the idea up? Why not start with a kick-ass team?
The time seems right to reconstruct our startup model. Tons of talent unemployed or underemployed and the rest are freelancers.
It’s time to abandon sloppy process of endlessly parading pitches into swanky VC boardrooms. Instead what if we tried something like this:
- Entrepreneurs: Grab a few of the smartest people you can find. Lock yourself in a room with them for the weekend and see what happens
- Venture Capitalist: Hire a few of the smarter people you can find. Fund them for six months–no idea required–and see what happens
I really like the idea of creating companies that are platforms. Build a company that’s a creative shell from which entrepreneurs can spring to success.
The concept would still need the resources, discipline, and structure of a traditional startup business. However, it would be a little different with…
- Smarter recruiting,
- Better team building,
- More active creativity,
- Loads of prototyping, and
- Crazy high expectations
Ultimately, the difference is where you place the initial focus.
In a traditional funded startup, 100% of the daily focus is on executing the pitched idea, getting it to market before you run out of money. In the new startup model, 100% of the daily focus would be in generating the right idea, making market execution more predictable.
Why is this idea important? I think it might just increase the chance of startup success. Value to the entrepreneur and value to the VC.
But, perhaps the biggest advantage is abandoning the inefficient chasing of ideas. Instead we could reallocate resources on creating a platform, an idea factory, that harnesses repeatable success.