As a founder you are an important element in your startup’s success. You are as important as a good idea, seed funding or a mentor. You are the one who is responsible for taking decisions, driving day to day operations, keeping track of market and a lot more. You are the one in whom everyone believes and to whom everyone follows. You can’t go wrong or miss upon things being in this position.
To drive your startup towards success, you must make significant improvements at both personal and the team level. You must make changes that will drive positive results inside as well as outside too. Speaking of a change, I have always believed in the following quote -
“The change must begin within, if any”
After a lot of reading, watching interviews of successful entrepreneurs and learning from my own experiences, I came up with a list of following 10 traits that each founder must have, to be best at his job.
Simply said mindfulness means being constantly conscious or aware of things that are happening around you in the present moment. Being mindful will help you to focus better in your work and will improve your concentration levels, thereby improving your work efficiency. It increases the clarity of our thoughts, helping us in making sound and precise decisions. Being mindful will increase your self-confidence and will help you handle your day to day stress effectively.
It is our inner road-blocks that make the journey arduous more than anything else. As an entrepreneur you must question yourself every day about your goals, your behavior and your general mind state. It’s really important to have these three elements in sync with each other, to yield maximum results in life.
Importantly, self-reflection will help you to reflect back upon your decisions, analyze whether they were good or bad, and will help you learn precious lessons from them. A regular practice of this quality will help you to become a ‘founder of integrity’. It can help you to reprogram your mind for success.
There is no excuse to this quality. As a founder, you should lead by example. Commitment should be shown on every level in a startup, in order for it to succeed. And this should start from you, the founder. You cannot ask more of your team, if you are not giving your 100%. You should always get your hands dirty, alongside your team. This motivates them to deliver their best. You must be committed to your startup financially and emotionally too. You should live your startup.
As a founder, you should never have a back-up plan for your startup (my personal opinion, what’s your?). I consider this to be a lack of faith in your own ability. Go All in!
“Trust yourself, give your best. Be committed!”
As a founder, you must delegate day to day tasks among the best people in your team.
As a tech founder, at start, you might find it difficult because of your ‘techie-ego’, which is pretty much normal and happens with every other tech founder. But as a founder, you usually have much more important tasks to do than actual product development. As a founder, you should know strengths of each of your team members and capitalize on each of them.
Delegation is a sign of trust and shows the strength of your team as whole. Effectively delegating your work will help you increase your administrative efficiency. You will get more time to focus on important and high priority tasks. Moreover, you will get time to develop new skills and can contribute better towards success of your startup.
As a startup founder, you are destined to face a lot of challenges in your initial days. You will face a lot of failures in product development, arranging funds, getting the early adopters etc. During this whole time, optimism is what will keep you going.
“As a founder, whatever affects you, affects the whole organization too.”
When you are seen as a positive leader, your team will stay positive too, eventually increasing their work productivity. It’s been found that optimistic people are healthier and are energetic in their work approach. They find it easy to recover from failures; they are better at bouncing back after being knocked down.
6. Ability to Inspire
As a startup you must be able to inspire people at different stages of your startup journey viz.
- When you are looking for co-founders
- When you are building your first product team
- When you are all set up and running
When you are looking for your co-founders, you must be able to inspire people for working on your vision and idea. They must believe in your idea and feel inspired to work on it. And same is the case with your first product team. To keep these guys inspired, your can put in place different systems like sharing a piece of equity from the product, or giving timely bonuses on success of the product. You must create a lasting enthusiasm in your team for the hard work they all put in.
Further, you must always acknowledge and appreciate the efforts that you team is putting in. You must keep the team spirits up, and that begins with an appreciation for
the hard work.
the hard work.
Empathy is a key quality that every founder, you and me, must have. At any moment, you must be able to better understand the needs, problems, views and opinions of other person from his stand point. This will help you a lot in understanding the reasons behind poor performances of your team members, and you will be better in helping them to improve and excel. Empathy will help you to better understand your customers and their pain.
Being empathetic will help you build and develop better relationships with your individual team members. You will be able to create an environment for open effective feedbacks and communication.
8. Quick Learner
As a founder, you have to be a quick learner. In your initial days, you will have to play multiple roles, which will need a lot of learning. Learning will help you guess upon things that might happen in future eventually helping you to plan and take corrective actions. Learning will help you grab new opportunities which might miss otherwise.
Technology is changing fast and so does the competition. Learning is what will keep you in the race. Learn! Quick learning will help you improve processes, people and products too.
“Learning fosters growth, both at individual and organizational level.”
9. Excellent Communication
A lot depends on communication when you are a startup. Bad or no communication is the major reason for the most of the road blocks in a startup journey. You will develop wrong products, will miss upon deadlines, will miss opportunities, and disappoint your stakeholders etc., just because of the poor communication.
Good communication will help you manage your team efficiently. It will help you convey your thoughts in a better/correct manner thereby helping you to grab various opportunities as they come by.
I think of honesty as a life value rather than a mere quality. You got to be honest all the time. Practice honesty as a value in your startup. Honesty will help you face difficult situations in a better and calmer manner. Being honest will help you accept your weaknesses and faults more boldly, thereby avoid any future complications in your startup run. You will build better and lifetime relations. You will avoid making any false promises which might get you into trouble. Honesty will raise your credit score and trust in the community.
What else you think should be on this list? Let’s share and grow together!