There are many traits needed for a startup team to grow and scale, but the NUMBER ONE rule for any startup cannot be stressed enough:
Never ever run out of money. Every team thinks they are on top of their burn but once capital of any size is closed, decisions where to spend capital, once studied, get looser in the turn. One day, everyone wakes up and realizes that net cash burn is way too high. Whether a team has raised $2M or $50M, the issues are still the same just on a different scale. By Mike Collett of Promus Ventures.