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This  element is designed to look for a key trait in the management team of nearly all successful new ventures: speed. While some people can drive a car comfortably at 100 MPH, others start to panic and constantly ride the brakes. Key entrepreneurial instincts and the ability to move quickly (combination of confidence, analysis, and risk) are core to moving nearly all business ventures forward. Can the team keep up with the aggressive pace a start up demands? Or are they a group of “over-thinkers” who have a tough time making decisions? What questions do you ask to find out if the management team has what it takes to accelerate?

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There is certainly a balance we look for in this category.  Swiftness of execution is an essential component for any startup, but there is a good deal that needs to be sorted out before the plan is followed through.  A great analogy here is to think of painting: preparation is 80% of the work. Obviously, figuring out how to turn the crank and make money with your business as quickly as possible is the goal, but putting all your resources into a plan you suspect is the right one before actually knowing for sure is a recipe for disaster.  In other words: you must first do the planning before you can start executing at full speed.  You don’t want to be sprinting down a dead end, do you?

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How fast are you going? Go to www.venturephenomeproject.com and share your experiences with investors and entrepreneurs.

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