A Mediocre Management Team with a Great Strategy will ALWAYS out-perform a Great Management Team with a Mediocre Strategy

Entrepreneur and venture capitalist Chris Mayaud writes in a post entitled "MYTH: Great Management is King" that it is great strategy rather than merely great management that is the key to success:

A Mediocre Management Team with a Great Strategy will ALWAYS out-perform a Great Management Team with a Mediocre Strategy.

He also tells us that:

A competent move in the wrong direction destroys a company much faster than an incompetent move in the right direction.

His Rule #1 is:

Behind EVERY Successful Company lies an ACCURATE Market Hypothesis

In other words, understand what the market wants, how much demand there really is, and how you are really going to satisfy that demand in a profitable, and sustainable manner.

 

-- Jack Krupansky