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Sam Altman, the visionary entrepreneur and investor, has a simple but powerful message for anyone building a company: The team you build is the company you build. It’s a lesson he admits he didn’t fully appreciate early on, but now knows is absolutely crucial for success.
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Altman credits Vinod Khosla for putting it perfectly: if you want your company to succeed, you must resist the urge to hire mediocre people. Instead, focus on assembling a team of outstanding individuals. If you can do that, combined with a product that people genuinely love, your chances of success are incredibly high—up to 90%, according to Altman.
The Team is Everything
While it sounds obvious, building a great team is often easier said than done. Many founders get caught up in the grind of developing their product, forgetting that their company is only as strong as the people behind it. Altman emphasizes that even if you have an amazing product, without the right team, your company’s long-term success is at risk.
The best CEOs, Altman says, spend a huge chunk of their time recruiting and keeping talented people. This is where you should focus your energy—not just on the product, but on making sure you have the right people to take your company to the next level.
Examples of Unknown Entrepreneurs Who Built Great Teams
Take Dharmesh Shah, the co-founder of HubSpot, a company that transformed inbound marketing. Shah knew that building a strong team was critical for scaling HubSpot into the powerhouse it is today. In its early stages, he focused heavily on hiring people who were not only skilled but also shared the company's vision. That early focus on talent set the foundation for HubSpot’s impressive growth.
Another example is Melanie Perkins, the co-founder of Canva. When Canva was still a startup, Perkins spent a significant amount of time ensuring she had the right team to support her vision of making design accessible to everyone. She didn’t settle for mediocrity, and that determination to hire the best helped Canva become one of the world’s leading design platforms.
Never Underestimate the Power of Your Team
Building a product that people love is undeniably important, but don’t make the mistake of underestimating the power of your team. If you’re serious about success, follow Altman’s advice: invest time in finding and retaining top talent. It’s one of the most critical elements of building a great company, and it’s worth every bit of effort.
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