Especially in turbulent times like these, investors think twice and three times about which start-ups they invest in and in which teams they trust to lead a company to success. Soft skills and mental strength count more than ever. EDD, the world’s first Team Due Diligence measures the mental characteristics that determine success and failure and uses benchmarks to show whether the team is strong enough to succeed.
Build a winning team with EDD
It all depends on the right composition: Not all strengths have to be strong in all team members: a successful team needs speed and thoughtfulness, overview and an eye for detail, analytical and creative skills. It is not possible to combine all of these in one person. Dealing with each other and working together constructively is crucial. For example, “propensity to act” is an important characteristic of a founding team when it comes to quickly seizing opportunities. However, a particularly high tendency to act can become a risk if there is no counterpart in the team to slow down rash decisions.
EDD makes all this visible and calculates the team’s probability of success in its constellation – taking into account all strengths and weaknesses.
Data-based assessment of team potentials and risks
EDD is the early alert system for risks resulting from personal characteristics: Destructive character traits often only become apparent when it is already too late. A too strong tendency to perfectionism, too low or too high goal focus, dissocial behavior, emotional instability or narcissism can break up any team and destroy all previous successes. EDD also makes such characteristics visible and warns in time.
EDD not only shows possible team risks but also recognises hidden qualities: It is not always the apparently strong who can lead a company to success. EDD makes traits visible that are less obvious but perhaps decisive for success. With EDD, even those who are not perfect self-promoters, whose power only shows in their actions … if they get the chance, do not fall through the investor´s cracks.
Resilience as a key trait in turbulent times
Experienced entrepreneurs have all survived more than one storm. And they know: Each gust of wind has made them stronger. For many, the success criterion #1 and, given current turbulences, more important than ever: Resilience.
Starting a business takes more than just a great idea. It takes hard work, dedication and, above all, perseverance. In the unpredictable world of start-ups, setbacks are inevitable, and it’s how you react to those setbacks that can make the difference between success and failure.
How Resilience can make or break your Startup Team
Resilience is the ability to bounce back from setbacks, adapt to change and get through difficult times. As an entrepreneur, you will face a myriad of challenges, from funding problems to product failures, and it is important to have a team that can overcome these challenges with grace and determination.
Entrepreneurial resilience is not just about being tough or having a positive attitude. It is about having the skills and mindset to navigate through uncertainty and overcome obstacles. Resilient entrepreneurs are adaptable, resourceful and persistent. They don’t give up easily and are willing to try new approaches when something doesn’t work out. nothing is as certain as change, and only those who can handle this will maneuver the startup boat safely into the future.
If you are a startup founder or an investor, it is important to assess the resilience of your team and take steps to build resilience where it is lacking. Use EDD to measure the resilience of your startup team and identify areas for improvement.
EDD will tell you if your team is strong enough to succeed and show you the predetermined breaking points you should have an eye on.
EDD Research GmbH
Institute of Team Due Diligence
Softwarepark 37, 4232 Hagenberg, AUSTRIA
+43 664 1420248, office@edd.team, www.edd.team
