Most company fails because of people issues
Fast clippings insights from Naval Ravikant, related to start versus people traits and issues.
Most companies fail, and not fail in the fall apart sense but fail to execute, fail to deliver, fail to realize their full potential; because of interpersonal conflicts, either between the founders or between the founder and the investors. At the end of the day it’s people issues, which is surprisingly ironic. (Naval Ravikant @ Gigaom. 2010, 7:16)
Traits for partners (cofounders)
- High intelligence
- High Energy
- High Integrity
You should look for someone that is very high intelligent, very high energy, very high integrity. And you need all three of those, you can’t compromise any one of them. (Naval Ravikant @ Gigaom. 2010, 3:00)
The best advice, for entrepreneurs, “it’s the people, stupid”
And they all tell you, “it’s the people, stupid”, and everybody goes “a-ha” and they nod, and don’t really understand what that means. And you figure out 10 years later once you worked with enough with the wrong people. (Naval Ravikant @ Gigaom. 2010, 2:31)
What to good in an entrepreneur?
- How much have they done? as opposed to what they are talking about
- Are they: great? hard workers? and smart?
Naval Ravikant @ Gigaom. (May 13th, 2010). Naval Ravikant Talks Entrepreneurship [video]. Published by Gigaom, https://youtu.be/1EpG92HO518