\n<\/p>\n
\n\t\tWith over 39 years of C-level global experience in the tech sector, Ivan is a seasoned and experienced investor, entrepreneur, advisor, board member, operator, and educator focused on helping teams prepare for rapid growth, scaling, expansion, and liquidation events.\t<\/p>\n<\/p><\/div>\n<\/div>\n
Last year, 2023<\/span>, will be remembered in the tech world for massive losses, as 3,200 startups and over $27 billion in venture funding evaporated, not to mention the most significant U.S. bank collapses since 2008.<\/p>\n At the same time, venture investment into early-stage businesses declined significantly, with VCs undertaking greater due diligence and displaying reticence toward founders unable to signpost a clear pathway to profitability.<\/p>\n While investors seem confident that 2024 will see increased deal flows following a cagey 12 months and the accumulation of a lot of dry powder, the onus remains on startup teams to convince VCs of their backability.<\/p>\n In truth, many entrepreneurs \u2014 particularly first-time founders \u2014 will likely end the year disappointed. They continue to labor under the dual misapprehension that ideas are sacrosanct and that technical supremacy is the key to startup success.<\/p>\n As Bill Gates famously said, \u201cIntellectual property has the shelf life of a banana!\u201d First, founders must understand that entrepreneurial success is not about the idea. There is no shortage of exciting business ideas out there; indeed, its multiple founders frequently experience the same lightbulb moments and go on to develop near-identical business propositions.<\/p>\n What makes startups more likely to succeed is the quality of the team, their ability to execute, and their sense of timing \u2014 the most inscrutable element of company building.<\/p>\n \n\t\t\tWhat makes startups more likely to succeed is the quality of the team, their ability to execute, and their sense of timing.\t\t\t\t\t<\/p><\/blockquote><\/div>\n Like many seasoned investors, I\u2019ve been preaching the virtues of \u201cteam, timing, and execution\u201d for years. And yet, I still meet cohort upon cohort of founders who are strong on tech but need more fundamental company leadership skills and the requisite interpersonal skills.<\/p>\n Don\u2019t get me wrong \u2014 technical prowess is undoubtedly essential, particularly when building enterprise SaaS solutions where \u201cgood enough\u201d is not, in reality, good enough. However, it is only a small piece of the puzzle.<\/p>\n According to the Carnegie Institute of Technology, 85% of financial success stems from an individual\u2019s soft skills and ability to communicate, negotiate, and lead effectively. These founders can deliver a clear message, show passion, demonstrate empathy, and build customer rapport, helping them identify product-market fit and master the sales process.<\/p>\n Likewise, they\u2019re more likely to assemble winning teams and bring everyone with them on the difficult growth journey ahead because they understand what it takes to run a business and what it means to be a CEO \u2014 to hire, fire, and execute a business plan with laser-focused clarity.<\/p>\n<\/p><\/div>\nGreat ideas are commonplace, great teams are not<\/h2>\n