Are You Ready to Launch? Here's How to Find Out Veteran venture capitalist Jason Green on the importance of a minimum viable product and assembling a top-notch team.

By Jason Green

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

Q: I'm at the edge of taking the leap and launching my business, but I'm worried I'm not ready. How can I make sure I'm prepared?

- Moolah-Lea Ramasamy

A: While preparation is very important, it is no substitute for experience.

When feasible, I encourage young entrepreneurs to create a minimum-viable product and expose it to potential users as quickly as possible. Your first users will provide feedback -- both good and bad -- that you can learn from and incorporate into your next iteration. It is critical that you remain open to customer feedback and pivot quickly to keep improving. Often times, your earliest users will uncover things that you would have never thought of in a business plan.

Related: 3 Tips to a Speedy Launch

Then, I'd also suggest making sure your team is ready for action. This is one of the biggest pitfalls I see. So, I cannot stress enough how important it is to choose the right partners and employees. The team is always the most important asset a startup has and one bad apple can derail an organization.

It's critical to consider these questions when choosing a partner or new hire:

1. What kind of culture do I want for my company? How does that culture fit with the company's goals?
2. What kind of personalities do I work with best? How do those personalities fit with the culture I want to create?
3. How do I find and retain the types of employees that excel within this vision?

Related: Failure to Launch: Why New Products Don't Make It

As an entrepreneur, you ultimately have to create a vision for a product or service and inspire your team to execute on that vision. Early employees are vital to a company's success and they need to be selected thoughtfully.

Have a question for YoungEntrepreneur's experts? Leave a comment below and tune in next week to hear from our new Ask the Expert contributor.

Jason Green has more than 15 years of venture-capital experience under his belt. As the founder of San Mateo, Calif-based Emergence Capital, he invests exclusively in early- and growth-stage tech companies, manages $575 million across three funds and is actively seeking new investment opportunities. Green has led early investments that became market-leading public companies like SuccessFactors, DoubleClick and Ask Jeeves.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Chevron Announces Layoffs Affecting Up to 8,000 Workers: 'Stronger Long-Term Competitiveness'

The oil producer said the layoffs are part of a cost-cutting initiative.

Side Hustle

This 31-Year-Old Spends 2 Hours Per Week On His $3,000-a-Month Passive Income Side Hustle: 'Trust Your Vision'

Hansel Moore's home office "wasn't cutting it" — so he found another place to be creative.

Living

How the Sleep Industry Has 'Awakened'

The flourishing science of snooze is inspiring a variety of businesses, bringing potential perks for everyone.

Productivity

Sharpen Your Memory with Brain-Healthy Foods

Six foods that you can incorporate into your daily diet to improve your memory and get more done.

Productivity

To Really Shine at Work, How Much Sleep Is Required?

If you think you're great on less than six hours, your brain may be fooling you.

Health & Wellness

12 Ways to Eat Healthy No Matter How Busy You Are

Resist the temptation to skip meals and rely on processed snacks to get through the work day. Sound nutrition is essential for staying sharp.