Ian Altman discusses with Luis Derechin the challenges and pitfalls of building offshore teams, highlighting the seven common mistakes that lead to failure in 73% of projects. Derechin's book, "The Offshore Team Deathtrap," offers a framework to avoid these mistakes, emphasizing rigorous talent selection, expert onboarding, managed support, optimized team performance, transparent cost plus pricing, and enhanced scalability. Derechin shares a success story of a software company that improved its offshore team management by implementing these principles, leading to a 95% success rate. Altman and Derechin agree that offshore teams can be a strategic advantage if managed correctly.