For any company, the founders and founding team is extremely important; they make or break a company. They also help a company achieve its targets, as well as help it scale and grow.
In this episode of Matrix Moments, Avnish Bajaj, Founder and Managing Director, Matrix Partners India, asks Rajinder Balaraman, Director, Matrix Partners India, what is the magic number for a founding team?
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“It is 2.3, but this is the beauty of the averages. Somebody took the number of successful companies and the number of founders and divided one by the other, and the no. is 2.3,” says Avnish.
This, however, is instructive. It tells one that you don’t need one or four, but somewhere between two and three.
Work with different personalities
While different analysis and data points show that a founding team of three is perfect, Avnish emphasises that it differs on a case by case basis. Earlier, Avnish had said, “There is an analogy of three people forming the three ends of a pyramid — visionary, hustlers, and hackers. The visionary sets the big picture, the hustler gets things done, and the hacker builds the systems. While this is an ideal world scenario, what helps is having people with complementary skill sets.”
Watch the video here: