Avoiding the one night stand: Startup Weekend success

Finding a compatible team is more important than the right idea, says Christchurch-bound global CEO Marc Nager.

Tuesday, January 24 2012 || News || BY Amanda Sachtleben

Succeeding at a Startup Weekend isn’t unlike finding a long-term date. That’s the inside word from the CEO of the global organisation, Marc Nager, who’s headed for the Christchurch event next month.

Nager was investigating launching his own startup before acquiring the Startup Weekend organisation in 2009 and transforming it into a not-for-profit. Kiwi entrepreneur Jason Armishaw approached him through Twitter about bringing the events to New Zealand, which led to Nager’s participation at Christchurch.

His key piece of advice for any Startup Weekend partipant? Find the people you could actually form a company with.

“I don’t have any hard statistics but the number one reason for startup failure is co-founder or team issues,” says Nager. “At this early stage the most important thing is learn how to articulate your idea so you can build better teams and learn how to work with people. It’s just like dating – when you’re meeting somebody in a bar it’s more likely to be a one night stand, but if you’re able to meet with someone and work with them hands on, with time constraints, team environments and stressful deadlines, you’re going to know a lot more about how you function as an individual and how others function as a team.”

What he does have statistics on is something he’s passionate about – ensuring long-term success for startups formed at the weekend events. About a third of teams keep working on their ventures three months after Startup Weekends, while just under 10% quit their jobs to make their ventures fulltime pursuits.

“One of the biggest things I focus on is we try to catalyse the movement. The greatest thing to come out of the weekend is the very organic concept of what’s next? People wake up on Monday morning and realise they’ve done great things and learned more than they have getting their MBA, or accomplished more than they have in their regular job. It’s empowering those people and helping build the solutions to the ‘what’s next?’ question. We make sure after the weekend we get the other players and stakeholders from the ecosystem involved.”

If people pursue their entrepreneurial ventures, a team with the right skill mix is crucial, says Nager.

“If you’re a technical person you’ll need someone with business skills or if you have something that’s very consumer oriented you’re going to need somebody that’s great with design and user experience.

Nager will attend seven or eight Startup Weekends this year, including Christchurch. He reckons the earthquakes in the region in the past 18 months could serve as a catalyst for innovation.

“We’ve seen that in places like New Orleans. Having tragedies has created a new conversation, it creates a fresh start and a clean slate.

“We see a bit more of that entrepreneurial culture and ambition and the whole community becomes more supportive of that innovative thinking.”