The success of a new venture is almost entirely dependent on the commitment of the entrepreneurial team.
Let me present you the classic story of the pig and the chicken:
What can we learn from this?
In a typical case the whole team is made of chickens. That is, people who contribute to the common goal but in the end have nothing to lose.
But a team made of chickens has rarely achieved anything remarkable. People appreciate commitment and especially when the team is looking for venture funding it’s critical that they are committed.
Why on earth would the pigs commit?
If you’re the pig, you should ask yourself two questions:
- Is the ham-n-eggs business really what you want to do?
- If yes, could you get more pigs to share the responsibility?
After that it’s easier to calculate your risk and expect a reward accordingly.