Building the Winning Team

s I mentioned in the previous article, I believe the most significant factor in a startup is the team behind the project.

For me, it’s the primary factor that determines success. Consequently, knowing how to evaluate a team critically is crucial, regardless of whether you are an investor, a co-founder, or an employee. Regardless of your role in the project, the key is understanding who you’re partnering with.

I’ve built organizations from the ground up, sometimes with hundreds of employees. I’ve hired and developed top executive teams across various verticals. And I’ve done this by leaning on and learning from outstanding professionals.

I also co-founded a leading HR platform in its sector that uses an algorithm to categorize candidates’ potential and skills. This allowed me to better understand how to assess these skills and what makes one candidate stand out over another.

Although I have a method, which is more art than science, it’s critical to understand that this evaluation must be tailored case by case, project by project, and team by team.

If you read this, you might think it's difficult to have a method when every case is different. But the truth is, there are certain questions and premises I believe are common to all projects and teams. The questions remain the same—it’s the expected answers that change.

The First Question: Why This Specific Project?

The first question I ask a founding team is why they want to pursue that specific project. Not just any project or company, but that one in particular. With this question, I aim to understand two things:

1. Extrinsic motivations— why they believe the world needs the product or service they’re proposing.
2. Intrinsic motivations— why they want to embark on this venture themselves.

Understanding what motivates them—their “whys”—helps me gauge their commitment to the idea and project, as well as their resilience when things get tough.

For example, if a team’s motivation is purely monetary, when financial results don’t materialize—or take longer than expected—it could jeopardize the project. If their motivation is more personal, like a dream (or as I like to say, a mental itching they can’t stop scratching), the team is more likely to persevere when things get tough.

I’m not saying there’s anything wrong with starting a business or project to make money. It’s the natural thing. And with the right ambition, it can be a powerful motivator.

The Second Point: Alignment Between Motivation and Skills

Once I’ve understood a team’s motivations, I look to see if their personal and professional skills align with that motivation and the ultimate goal.

As I mentioned earlier, if a team is motivated to create a project based on an idea or business that will take time to succeed or requires specific expertise, it’s crucial to assess whether they have the resilience, stamina, or necessary knowledge to make it happen.

How do you determine if someone has the skills you are looking for? By learning about their life story—observing and learning from past situations that illustrate those or other skills. It’s true that the past doesn’t predict the future. History doesn’t repeat itself, but it rhymes. Past behavior is usually the best predictor of future behavior.

That’s why, whether you’re an investor, co-founder, or employee, it’s imperative to invest time in getting to know people and their stories. The more you know, the better.

Talking About the Future

And once we’ve clarified the “why,” the history behind those “whys,” and each person’s skills—where they come from and how they’ve been demonstrated—it’s time to talk about the future.

Discussing the future with an entrepreneurial team is not easy. Why? Because even if they think their vision is clear, it often isn’t—or when it is, they’re only able to see that one specific vision.

That’s why I think it’s crucial for an entrepreneurial team, whether they’re working for themselves or for someone else. They need to strike the right balance between having a clear vision of the future and reevaluating it.

As I once heard, fools never doubt.

When I talk to a team about the future, I expect two things:

1. A vision grounded in substantial information or knowledge.
2. A range of possible futures.

I expect them to make a concrete prediction about those possible futures. However, I expect them to see multiple outcomes and explain why some won’t materialize.

Final Thoughts

Finally, I want you to know that I’m sharing this not just to offer my perspective as an investor or co-founder, but also to encourage you to examine your own logic and see how you fit into this framework.

If I expect this from my team, it’s because I’m the first to provide the same answers or subject myself to the same questions. This is when it’s my turn.

Quid pro quo.

Where to find me

• Twitter: https://twitter.com/NachoLucea
• Instagram: https://www.instagram.com/nacholucea/
• YouTube: https://www.youtube.com/channel/UC6vRcumzUfp1vL55aUdlmtg
• Linkedin: www.linkedin.com/in/ignacio-lucea