3 Things Make the Top 10% of Founders Different (Y Combinator)
Over the last 13 Y Combinator batches, Michael Seibel (CEO and Partner) interacted with over 2,500 founders. It enabled him to notice ‘what makes the top 10% of founders different?’ Even though he talks about startups, these are the universal traits to be a person who can make changes.
1. Great founders execute
When the great founders say that they are going to do something, two weeks later, they have done it, and they have learned something. They do it consistently. (00:35)
2. Formidability
It is intimidating to work with someone who consistently gets things done, not in a bad way. They demand respect because they get sh*t done. When you talk to them, you treat them with more respect. You treat their goals with more respect because you think they’re more likely to accomplish them. You treat their tasks with more respect because you know they’re going to do them. The ability to execute creates formidability. (1:22)
3. Clear communication
The best founders can explain what their business does exactly in one or two sentences. They can explain it to a customer, an investor, their mother and anyone of any level of knowledge about their industry. They can do it without stumbling. (2:09)
4. Internal motivation (a fourth bonus one)
Great founders don’t get discouraged, even if they make a wrong move five times in a row. They stay passionate about the problem, and about trying to find a solution. They keep on executing and move forward. They keep motivated in the face of defeat or failure. (3:40)
Note that ‘idea’ is not on this list
It is usually very hard to tell whether a very-early-stage company has a good idea. He never uses ‘idea’ to separate great founders from everyone else. (4:52)
