Published on February 8th, 2013 | by Priti Ambani0
Chuck McDermott: Top 3 Predictors for Entrepreneurial Success
RockPort Capital VC, Chuck McDermott, offers his Top 3 Predictors for Entrepreneurial Success to Future360. These include crafting a stellar team, being relentless and having clear objectives.
“The single most predictable success factor in a company is the people. It’s all about team. If you are the CEO, surround yourself with people who are smarter than you, preferably people that have done similar projects before, and leverage their experience and expertise.
Number two, it requires absolute relentlessness. Time is your enemy and you have to be moving at this exceedingly fast rate in order to achieve altitude. You’ve got a certain amount of runway and you have to get into the air until that runway runs out.
Finally, focus on a finite set of objectives. You might have a technology that’s applicable in 12 different industries. You’ll never pull that off. You have to choose two or three, focus on those with laser like precision and execute.”