Most startups fail to make it past the first year due to financial constraints, mismanagement, and competition, among other factors. Those that manage to grow past that year have one thing in common: a good founder. A good founder must be a good entrepreneur, marketer, manager, and leader. Having such qualities as a founder can see your startup overcome the typical hurdles that many others face. Successful Startup Founder-
The business world is evolving with the emergence of smart digital technology and Successful Startup Founder; hence, every startup is presented with new opportunities and challenges. As a founder, there are some essential core qualities you’ll need to succeed to ensure your startup meets its goals and objectives and is able to grow long into the future.
This article looks at some of the essential core qualities and unravels what traits every good founder should have:
- Embraces technology – Successful Startup Founder
The best founders aren’t just “tech guys.” They don’t need to know how to code, but they do need to understand how technology works and how businesses can benefit from it. They also need to have a vision for what technology can do for their company and industry. And they’re constantly looking for opportunities to improve the status quo by leveraging new technology and trends.
An example of this might be Jobber who provide landscaping software, aimed specifically at companies operating in the field service sector. With this software, you can track your jobs, schedule your crew, and send professional invoices. You can also communicate with your customers and even integrate the technology to execute social marketing campaigns and generate leads. By consolidating all your operations onto one platform, you team are empowered to fulfill more jobs and satisfy more clients as a result.
Generally, technology helps to level up the playing field for startups. It enables you to connect to customers, access the latest tools, complete more work, and generate more revenue to grow your business.
2. Good at managing finances
Financial awareness is one of the most important skills a founder should possess. A startup founder has to hold the finance and accounts strings tight and control expenditure to ensure the company runs at an acceptable level of cost to allow for operational stability.
A startup founder should be able to determine what expenses can be reduced or eliminated for the business’ good. They should also be able to negotiate with vendors and other suppliers to get the best deals for their money.
Ultimately, a good founder will have a good idea how to price their product or service correctly. Products are easier to price than services, where each job or project delivered can be entirely different to the next. Companies that operate in the service industry such as a house cleaning business, for example, need to consider labor costs, profit margins, and home size. The Jobber Academy has a wealth of information to help you price your services and is a great hub of resources and free materials to help you run your start up more profitably.
Successful startup founders are adaptable because their lives are about adapting to the market. They follow and execute on a vision, but that vision is constantly changing as the market changes. For example, social media platforms were initially designed to help people connect and meet new folks. But today, they form a large marketplace for products and services.
Therefore, a startup founder should be flexible and willing to change things when something isn’t working. Just because something works for one company doesn’t mean it will work for another, even in the same industry. Founders need to identify what isn’t working and be willing to try new things until they find something that works. Also, adaptability means they can take advantage of opportunities in the market that can help them generate more profit for their startup.
4. A good listener and communicator
Many entrepreneurs think they know the answers. But when you listen to customers, you can pick up subtle cues that there may be a better solution than what you’ve come up with. Every problem has a solution. The entrepreneur’s job is to find it. Moreover, your team will need you to listen to them on matters about business. As they do most of the work and interaction with clients, they know what customers want. And they can provide insights on how you can grow the business.
A founder should also be a good communicator as they’ll be the face of the business. For example, when talking to investors, you need to express why your company will succeed, what sets it apart, and why this is a good investment. Also, you need to communicate with your team for them to be connected to your business. For example, you can congratulate them for achieving different milestones, give them feedback, or ask how they’re doing.
Running a business takes more than just an idea and a willingness to work hard. It also takes discipline and planning. Successful founders keep track of their finances, create plans for marketing and sales, and hold themselves accountable for following through on their ideas. They also learn how to delegate certain tasks so they can focus on those which need their attention most. Delegation helps them play to their strengths.
6. Learns to embrace failure – Successful Startup Founder
Even if you’re not an entrepreneur at heart, you have to learn how to take risks because the goal of any startup is to make something out of nothing. You have to be able to make mistakes and be willing to learn from them. When you’re creating something new, there is no blueprint or guidebook for success. Failure can be part of the process, so you must learn to cope with it.
Moreover, failing at an early stage can be a good thing because it keeps you prepared for major setbacks in business. It also helps you identify mistakes that led to failure and the corrections you made to get back on track. This way, you can avoid the same mistakes in the future as your business grows. Moreover, you can use past mistakes to create a mechanism to rise from future setbacks. Every failure is a learning opportunity in a startup.
There are many top qualities a startup founder should have to ensure their business is thriving. As discussed in this article, you need to be flexible and agile, be ready to take risks, and learn from failure. When combined with interpersonal skills such as good communication and listening, these entrepreneurial competencies will help you manage properly your business, team, and customers. As a result, you’re likely to run a successful business.