The 4 People Your Startup Needs To Succeed
Every day, a new startup is created, but within the first year, approximately 50% of them fail.
Although it’s heartbreaking, it’s the vicious cycle that’s become an accepted part of business.
The failure of startups isn’t always because of the product or funding. Often, the very people who helped make the idea a reality have a role in bringing about its demise.
Whether it happens only a few weeks after its creation, like countless unnamed companies, or a few years after it generated global attention, like Yik Yak and Juiceroo, having the wrong people on your core team could give you more nightmares than your upcoming investors meeting ever could.
This is why you need to think very carefully about the people who you’ll be building your business with.
For instance, creating a startup with your best friend might not be the best idea.This isn’t to say you can’t have your friend on the team or vice versa, but think about why you’re really working with them. Is it because they’re better at analyzing problems than anyone you’ve met, or because you’ve known them for 15 years?
If you’re sure they’re a valuable member of team, figure out which of these four personalities they fit into and you can start creating your perfect startup team.
The Leader
Everyone knows this position should belong to you: the CEO of the team. Focused and principled, the leader is the one with their eye on the finish line. Your teammates must all have strong elements of leadership, but every team needs only one leader.
Having two people on the same team making the big decisions and deciding which direction to take the company could result in discord and confusion. As difficult as it may be, your team needs to understand that unless a mutiny occurs, you’re the captain of this ship you’re building.
The Dreamer
Your startup’s dreamer will help you break out of the mold you might be pushing yourselves into. Countless startups begin as one thing and, once successful, expand into other areas. This is because of the dreamer. There’s always that one person who says, “What if we…”
This isn’t to say the dreamer is just someone who throws out ideas. If anything, they’re someone who is able to take your first idea and add more dimensions to it until it’s something bigger and better than you could have ever imagined.
The Realist
Realists aren’t always the most liked on a team. Always armed with sheets of proof and years of experience, they’re the one team member who will nudge you towards making the tough decision you’ve been trying desperately to ignore.
Your company needs a realist because it’s very easy to get sucked into the world of big, unstructured dreams when starting a business. Failure can often be ignored and the realist will make sure you’re brought down to earth at the right time with a jolt of truth.
The Strategist
Remember your dreamer? Once they come up with your next big idea, you need someone to analyze and connect the dots to help make this a reality. The strategist is someone who sees the world (and your startup) like a puzzle. They’re aware of the latest market trends, and in terms of where the company should be, they’re always one step ahead of everyone. Yes, even the leader.
A startup needs these four people to keep growing successfully. This isn’t to say you need four different individuals. Your team members can each wear more than one hat. For instance, who’s to say the leader can’t be a dreamer? Or a strategist?
Ask yourself if your startup has someone wearing each of these hats. If you don’t, you should think about bringing a new member in. If there are too many people wearing the same hat, then it might be time to say goodbye to a few people.
