> 2. The founder doesn’t understand that the value in a startup isn’t the idea but the ability to execute and build on that idea.
The best startups have both.
You can execute, great. But if you have poor industry understanding and no idea what is going to work in that space. Let alone something that is going to revolutionize the space. It is, similarly, not going to work.
Your industry expert need to have 20-30 years in the space. Understand it from the ground up. That guy is actually valuable.
It's not one idea, it's comprehensive understanding of all the current struggles in the space.
The best startups have both.
You can execute, great. But if you have poor industry understanding and no idea what is going to work in that space. Let alone something that is going to revolutionize the space. It is, similarly, not going to work.
Your industry expert need to have 20-30 years in the space. Understand it from the ground up. That guy is actually valuable.
It's not one idea, it's comprehensive understanding of all the current struggles in the space.