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I had a great idea on cancer treatment. How many people do I need?
Hello everyone, I am a 22 yo Neuro student that had a game changing idea for a start up last week. I shared this idea with two friends of mine. One is a current PhD at Oxford studying Cancer Biology the other one a MD. We had our first meeting and we realized we need to build a stronger team before actually start developing our idea. Clearly our backgrounds are not the best to deal with the technical side of the project, but mostly with the scientific side of it. So my question is: how many and what kind of people would form the minimal adequate team to develop/launch a start up? What background should they have? Where can I find them?
Thank you in advance!
Best Answer
The book by Walter Isacsson titled "innovators" have one good definition to your answer. You need three people. One builder - can build anything on the fly and best. One money guy. And a market insider being someone knows all the dirty secrets in the sector you want to crack. Good luck.
Other points
Hey :) all startups require different hats. Some hats are obviously more important in one business, and are almost not needed in the other. If its a startup, what you really need is passion, drive, motivation, and a well researched idea. Don't build your full time rockstar team right away, outsource as much as possible.
However, Chet Holmes (RIP, literally the best thing that ever happened in the business world IMO) talks about it. I think in one of his interviews if memory serves me well is to consider your team is as a sports team. Top players cost as much as 10 "okay' players, but will perform much better. The rule of thumb is hire 1 person who can do the job of 2 people, and pay them 1.5
Question asked by
u/jacopossum
Date
May 4, 2020 at 1:16:34 AM