Homogenous Teams Don’t Work | 4 Tips from Lucas Pols (Spark xyz)

Venture Partner. Founder. CEO. Writer for Forbes. Master of Entrepreneurship and Innovation. Our CoEfficient Labs team first met Lucas Pols last Fall as a partner for Quake Capital. Since then, Lucas has diverted his attention toward his own startup, Spark xyz, and launched the venture fund Amplite. We caught up with Lucas during our Demo Day Podcast, where he gives advice to founders from every viewpoint of the table. Here are just a few of our takeaways from the episode:

1. Open Communication is the Key to Business Partnerships 

Picking a co-founder is one of the most important moments on your entrepreneurial journey.

This is the person you’re going to hell and back with in a beat up station wagon prone to engine failure, the person you’ll be relying on when things go wrong at midnight, and the only person who will know as much about your business as you.

To successfully co-run a company, you need to have open communication— don’t let anything sit. Lucas said that he and his partner Abe don’t sweep anything under the rug, that they have tough conversations early on to squash potential anger or animosity. 

You want to challenge each other’s ideas but in a respectful, open fashion.

As a founder, there are always going to be things that are out of your control. Don’t slip up on the things you CAN control— like communicating with the proverbial mac to your cheese.

2. Be Purposeful with Education 

There are so many options for education. But you need to focus on getting the education that’s right for you, not the one that you’re “supposed to get” or that you think will look best hanging on your office wall.

Lucas thought he wanted to get an MBA, but some clicking around on the USC website led him to learn more about the Masters in Entrepreneurship. 

This allowed him to skip year one of the MBA program and jump straight into the classes he wanted to take. 

Don’t get an MBA because the letters look good, and don’t go to Stanford for the name brand. 

Find the program that makes sense for you.

3. Homogenous Teams Don’t Work 

A lot of founders fall into the trap of hiring those with similar skills to “round out” their team. 

Sure— if you went to engineering school, you’re going to have a slew of engineering friends lining up to join your company. In the end, your product may be amazing, but who’s going to sell it?

As you build your founding team, look to gather specialized individuals into a harmonious yet heterogeneous environment. VCs are going to want to see a well-rounded group that can handle any problem that comes their way, whether on the business or technical side.

(Psst! If you’re looking for tips on developing harmonious relationships within your team— read Lucas’s article Leadership: The Emotional Bank Account.)

4. Take The Time To Reflect 

Startup life is go go go. 

Then eat, sleep, dust yourself off and do it again. 

In the constant race toward launch dates, fundraising, and growing your rocket ship, it’s easy to forget to take the time to sit back and reflect on the journey.

That’s why at CoEfficient Labs we’ve made Making Time to Reflect one of our core values.

According to Lucas, reflecting is the only way you can get better. You need to take time to digest so you can learn from your mistakes. Breathe a little bit and look for the best way to execute, not just the quickest way around the obstacle.

This applies not just to building your business, but in caring for yourself. 

Want to Learn More?

Lucas explains why he cares so much about founders, the tools they need at different stages of their journey, and much much more during this Demo Day episode. Listen now on Apple Podcasts, Spotify, or our Demo Day Website.

Leave a comment below letting us know what you learned from Lucas!