Top 8 Qualities of a Startup Founder
While there is no set list of requirements that constitute an exemplary founder, there are patterns of success that indicate a few characteristics and practices of successful entrepreneurs today. Some of these may not be inherent in all entrepreneurs, but if you are aware of them, it is easier to consciously practice aligning your mindset with these top entrepreneurial qualities.
So what makes a successful startup founder? What gives a person the ability to take an idea or concept, and develop it into a thriving, profitable business?
Startup studios work with many founders and, therefore, have a unique perspective and deeper insights into what makes a successful startup founder.
Curious if you fit the bill? Check out Startup Studio Insider’s top 8 qualities of founders below.
Thrives in collaborative environments
“No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” — Reid Hoffman, Co-Founder of LinkedIn
While a startup founder must believe in their business vision with enough conviction to back their ideas, a startup founder should never be so in love with their vision that they fail to see opportunities to improve upon them. The most successful founders do not view others’ opinions and new ideas as threats, but rather understand the value of entertaining multiple perspectives and identifying ways to fine-tune an idea with others. Working within a dynamic, creative environment alongside a team of visionaries can encourage expansion and enhance the original vision.
How this fits in a startup studio
The startup studio model is rooted in collaboration, as they are staffed with the brightest minds to help turn an idea into an operational, self-sustaining business.
2. Always seeks opportunities to disrupt + innovate
“The best startups generally come from somebody needing to scratch an itch.” — Michael Arrington, Founder and Co-editor of TechCrunch
Understanding that there is always room for improvement and constantly looking for opportunities to make your work smarter is the key to differentiating yourself in a competitive market. Perfection may not exist, but striving for perfection will get you in closer range than those who are willing to accept “good enough.” This point also supports the fact that the majority of successful founders are truly innovative — they aren’t willing to accept the status quo, and instead are always looking for chances to make something better, faster, smarter, or more efficient.
How this fits in a startup studio
Startup studios strive to create businesses that solve problems and address major consumer pain points. To read more about some of the top innovative businesses born out of startup studios and how they are disrupting the status quo, check this article on Top Startup Studios in Action.
Knows their own strengths and weaknesses
“Embrace what you don’t know, especially in the beginning, because what you don’t know can become your greatest asset. It ensures that you will absolutely be doing things different from everybody else.” — Sara Blakely, Founder of SPANX
The best startup founders recognize that they are not experts at everything (and they shouldn’t be) and know when to pull in support rather than trying to do everything themselves.
Understanding your strengths and weaknesses allows you to free up more of your time to do the things at which you are most efficient while allowing you to delegate other tasks to key members of the team who can complete the work better or more efficiently than you could on your own. It is not defeatist to understand that there are areas you are not as competent in — in fact, being self-aware enough to know when and where you need additional support is a coveted skill that defines a great entrepreneur.
How this fits in a startup studio
Startup studios are equipped with diverse teams with expertise in a variety of disciplines, including finance, accounting, HR, marketing, IT, product development, and more. Having a multi-talented team on deck means that no one is expected to know how to do it all, and you can focus your time and attention on the pieces in which your contribution is most valuable.
Uplifts their team
“Help others rise. Greatness comes not from a position but from helping build the future. All of us in positions of power have an obligation to pull others up.” — Indra Nooyi, CEO of PepsiCo
A true leader knows the value of their team, and they provide the support and guidance to help them stretch and grow in their roles. The most successful startup founders are impactful leaders who position themselves and their teams for success. They seek ways to help members of their teamwork towards their own professional goals, allowing them to grow with the business.
The best founders realize the benefit of promoting their team and do not view the success of others as a threat to their success. This means providing your team with opportunities for growth and learning — trust your team and lift them into the roles that can propel your startup forward.
How this fits in a startup studio
Startup studios provide the perfect opportunity for founders and team members to grow along with the business they help to build. In order to create forward momentum, founders must ensure that they provide opportunities for their team members to grow and evolve within the company.
View challenges as opportunities
“Every worthwhile accomplishment, big or little, has its stages of drudgery and triumph: a beginning, a struggle and a victory.” — Mahatma Gandhi, Political and Spiritual Leader
In business, there will always be obstacles and naysayers. The most successful startup founders did not stop when they hear the word ‘no’, and they are not afraid to explore uncharted territories despite uncertainty. Entrepreneurs who approach challenges with an open and creative mind will likely overcome any obstacle with ease, because they don’t allow these things to impede their progress. Founders who address roadblocks as opportunities to tighten up their strategy are more likely to lead impermeable startups.
How this fits in a startup studio
The road to building a successful startup is rarely without obstacles. In a startup studio, teams should consider challenges as a chance to button up our strategy and build a smarter, more impactful startup.
Strives to understand the tactical work
“Ideas are easy. Implementation is hard.” — Guy Kawasaki, Co-Founder of Alltop and renowned entrepreneur
While founders’ roles must be strategic, they must understand all the elements that go into operationalizing an idea. Demonstrating some level of knowledge in every area of business processes allows startup founders to better understand and recognize opportunities to become more efficient and intelligent in operations. Striking the perfect balance is key here — as a founder, you don’t want to find yourself bogged down by the minute details of every element of your business. But having a high level of visibility into tactical elements of the business will ensure that you are not overlooking threats and opportunities for the business.
How this fits in a startup studio
In a startup studio setting, founders and team members work closely together on the foundational elements of the business. Understanding what goes into a successful startup and how all of the pieces must work together in tandem is a critical element of building a smarter business.
Does not shy away from failure
“Fail often so you can succeed sooner.” — Tom Kelley, Founder of Ideo
The most successful startup founders understand that failure is a necessary component of achieving success. As a founder, you likely have or will experience many failures throughout your career — big and small. It is important to accept failure, learn from it, and then continue in your pursuit of success. The trick is to fail smarter — meaning that you are emerging from failure and moving forward strategically, having learned from your mistakes. Failure-averse entrepreneurs likely overlook or shy away from opportunities that they deem too risky. But to forego risk means that you may also forego reward.
How this fits in a startup studio
To work with a startup studio, you must be willing to be wrong some of the time. The collaborative, creative nature of the startup studio model requires a constant flow of disruptive ideas, and while not every idea will become a viable business, every idea, right or wrong, makes the team smarter.
Embodies charisma
“If you’re changing the world, you’re working on important things. You’re excited to get up in the morning.” — Larry Page, CEO of Google
Finally, and arguably one of the most important qualities on this list is charisma. The majority of highly successful entrepreneurs (and people in general) are charismatic — the way they lead and interact with people, inspire others, and promote a following or commitment to their vision. Startup founders have that “je ne sais quoi” that influences others to not only believe in their idea but want to become involved in bringing it to fruition. Charisma often comes with believing in your idea and being willing to put everything you have into making it come to life — your time, resources, and energy. When others see you back your vision with such conviction, their interest is piqued.
How this fits in a startup studio
In the pursuit of a brilliant business idea, startup studios need creative, energetic, and charismatic founders who are ready to put everything they have behind their startup to help it succeed. Many skills can be easily taught or learned over time, but to inherently embody charisma gives you a competitive edge that will likely mean the difference between success and failure.
Harnessing each of these qualities requires humility, introspection, and a willingness to learn and grow from your successes and failures. While many founders opt to build their businesses independently, startup studios are an exciting opportunity for people with these qualities to work in a highly collaborative environment.
These eight traits are the qualities that startup studios seek when adding a founder to their team. If you believe you possess the characteristics of a successful entrepreneur, you may be well suited for the startup studio world! Many of the top startup studios like eFounders, Atomic, Wilbur Labs, and Pioneer Square Labs are always on the lookout for talented, passionate founders looking to bring creativity and collaboration to a team of like-minded, innovative, and driven builders.
