Archive for February 5th, 2012

February 5, 2012

Ying and Yang of Startup teams and Ecosystems

One of the measures that I think is very important in building great teams is the balance of Ying and Yang, Creative and Analytical, Design and Engineering call it what you will. A great team in any field of operation needs to have a balance between the creative side and the analytical side. I think startup business development and management is a balance between Leadership and Management. Dr.Steven Covey talks about this in his books. I have been analyzing the number of students in Iceland in the Arts field vs those in the Analytical field. What is fascinating is the observation that this ratio is starting to move towards 100% that is a good balance, it means there are equal number of graduates in the Arts as there are in the Analytical. I think while we are looking at teams, it is very important that this balance is part of the equation. The data for this published here, all the source of the data is Statistics Iceland. This is possibly one of the reasons why I believe Iceland can actually create the next Google. Finding a good balance with the available pool of talent today is hard, if you find the talent on both sides, making them work together is harder. I have met many startups and companies in Iceland and the ones that are really making quantum jumps are the ones that have a good balance between Design and Engineering. I don’t have comparison data but if I had to guess this ratio puts Iceland really high among those regions that have successful entrepreneurial ecosystems. I am finding more and more evidence to point to the fact that Iceland has all the right ingredients to build a sustainable entrepreneurial ecosystem. If you want to participate in a conference that we are planning to organize to discuss the issue of How to Create Sustainable Entrepreneurial Ecosystems in Iceland, go to http://signup.startupiceland.com and sign up.

If you are a startup and you dont’ have this balance strive to get the balance, the diversity helps you ask hard questions about what you are doing and things that you don’t consider, may be are obvious to your team members. Complementary team members always increase your teams odds of success.

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