The leading startups are typically not started by those who want to make money. They are founded by people who often believe in things that seem absurd to the common man. One thing that quickly becomes apparent about this set of people is that they have unique qualities that play a critical role in the success of their startups.
Building on our last list of qualities of exceptional startup founders, we conclude with another list of ten qualities.
Passion is one of the key qualities that all exceptional startup founders have. They are passionate about a specific problem and are moved to solve it, and then work diligently at building a company to systematize their solution to the problem. They love what they do and take initiative without waiting to be motivated.
Most startup founders often take time out to understand the need, problem, and opinion of their clients and teams. They know the reason why their customers need the solutions they provide and ensure nothing stops them from providing such solutions. Also, they have a clear understanding of the factors behind poor performances in their company and are willing to help their teams get out of such ruts.
One of the noticeable qualities of an exceptional founder is good communication. Most pitfalls in startup journeys are caused by bad communication. Exceptional founders convey their thoughts correctly to team members, investors as well as their customers owing to the fact that receptivity is always perceived through communication.
When you look at the founders of all the top startups, you will notice that they all possess a strong self-imposed personal standard. This is a no-brainer because discipline leads to a good work ethic and this in turn makes a business successful.
The success of a company hinges on the productivity and effectiveness of its staff. A founder knows how to use existing resources in clever ways to quickly overcome difficulties and achieve success. While money is a common resource, time is often the scarcest for a startup. Successful founders are excellent at time management. They know how to set goals and achieve them.
The life of a startup is full of ups and downs. Founders have to insist that people listen to their ideas to convince the right people. Exceptional startup founders always have this can-do attitude. Determination keeps a founder going even when they encounter inevitable challenges.
Turning an idea into a start-up and then into a hugely valuable business is not a day’s journey. Founders with a high-level of integrity may make some sacrifices in the short-term but tend to win out over the long run. Exceptional founders think through their actions and will not shy away from taking actions that are true to their moral standard and which will eventually benefit the company.
The most successful founders are great salespeople. Many startups founders believe it is not necessary to know how to sell their product to investors, press, clients, etc. They think the product has so much value that they can build a great business without selling but an exceptional founder never thinks this way. He ensures that the ethos of salesmanship is built into his company from Day 1.
Startup founders are often faced with decisions and the burden of making such a decision comes with no prior knowledge that helps assure them that they are making the right decision. But making good decisions depend on how quickly you can make them. Successful founders are found that they are the ones that make quick decisions.
Execution is one of the greatest problems of young startups. Young founders often have great ideas but executing the ideas becomes a very great challenge and the plans can easily be lost in the daily routine of running a business. For exceptional founders, execution is the difference and they know that investors invest in the people who can execute.
Overall, startup founders should deliberately invest in developing each of these qualities. One of the most time-tested ways they can do this is by getting mentors and advisors who will willingly walk them through the processes that build these qualities into them.