UNC - Chapel Hill Sociologist Howard Aldrich studies successful entrepreneurial teams. Guess what he has found? Startups are often created by teams of two or more people who have complimentary skill sets and who know each other. Nothing too surprising in that. What is interesting is that startups often lean towards embracing cronyism while failing to allow for diverse viewpoints. This perhaps explains why professional venture capitalists must be prepared to manage the companies they invest in if for no other reason than to ensure the founders look beyond their existing web of contacts when expanding.

Aldrich recommends:

Think about the desired skill and experience requirements of the proposed startup before settling on people just because you know them well.

Broaden your search by using multiple sources to help compile a list of relevant individuals. Systematically assess not only persons with whom you have strong ties but also those you've known more casually or through a third party.

Explicitly consider whether team diversity should be one of your goals. If you find yourself with an "old boy" team, ask yourself whether you have been thorough enough in your search for relevant individuals with complementary rather than similar characteristics.