In pre-seed and seed startups you rarely have a well-defined product, let alone a product-market fit. We of course have to believe in the idea but the team will play a pivotal role in clearing all the hurdles he will need to in order to possibly come to the endpoint of the journey: the EXIT. A good team might turn a mediocre idea into a great business, a crappy team will definitely run a great idea into the wall. That is why, at FRC, when we invest we spend most of our assessment discussions talking about the founders and their perceived qualities (subject of another blog) to make it all the way through.
This blog will always be less than 1000 characters, which is just a bit more than a Tweet and much more interesting