A recurring CB Insights post-mortem study shows that close to one in four of all start-up failures are due to “not having the right team”. This makes it number three on the list (behind running out of funds and being unable to identify a market need). However, when adding items such as “burn-out,” “failure to pivot,” “lacking passion,” and “disharmony on team,” you quickly get to a great deal more than one in four.
Adding insights from corporate leadership and project teams you quickly arrive at a heightened state of awareness: Fragmentation, isolation, insufficient understanding of each other as team members, lack of accountability—all point to a whopping team vitamin deficiency that results in a massive loss of opportunities. Is there something rotten in the state of teams?
The inability to capitalize on differences, create commitment or deliver on innovation by sharing and giving feedback leads to stress and sometimes even depression. Some say that a massive 60-75 percent of teams show symptoms of these dysfunctions.
These challenges constitute 80% of a team's "rough seas".
Needless to say, there are outside forces beyond the scope and influence of a team that can greatly affect its success. PwC published a survey in 2017 that clearly indicates that the world has become divergent. "Certainties" only five years ago concerning e.g. international trade agreements and the EU, have suddenly ceased to indicate any direction.
A shifting environment requires completely capable, effectively interacting teams.
This involves having a clear picture of the team’s strengths, exposures, development opportunities and recruitment needs, including an understanding of individual team member’s contributions and required support.