Startup Success for Founders: 5 Non-Negotiables and 5 “Extra Credit” Considerations
The tech founder journey is filled with challenges and opportunities at any given moment, sometimes when least expected: lots of twists, turns, and triumphs to navigate and learn from. As founders begin this adventure, some fundamental principles and insights can guide the path to success. Here’s one perspective (mine) that may be worthy of consideration at this moment in time — in this somewhat crazy, exciting, and yet-to-be-defined new era of AI:
5 Non-Negotiables
Tell Your Story:
Tell your story before someone else tells it for you. (They will inadvertently or inevitably get it wrong). Your ability to share your simple and powerful story authentically and with inspiration is crucial. A great articulation of your story attracts employees, customers, partners, and investors to your cause. It’s about leading an ever-growing parade of stakeholders towards a shared future, opportunity, and satisfaction.
Creativity Over Conformity:
Building a company is more art than science. It requires creativity at every stage in problem-solving, decision-making, and navigating the market’s and world’s uncertainties. Encourage a culture where innovative ideas and unconventional approaches, in context, are welcomed, valued, and celebrated. Marvel at the “Wow, I never thought of that” moments.
Every Interaction Counts:
Especially for founders who are naturally introverted, it’s essential to make every single interaction deliberate and impactful. Make it a masterpiece. Whether it’s networking, pitching, selling, or leading your team, approach each engagement as an opportunity to leave a lasting impression. Think of it as a “once-in-a-lifetime-of-my-company” opportunity.
Grit:
There is beauty in hard work. The path to success is paved with setbacks and failures. The resilience to keep going, learn from mistakes, and never lose sight of what’s possible –this is what differentiates successful founders from the rest. Do the work and never give up. Embrace the grind and enjoy the miracle of solving the unsolvable.
Momentum Is Key:
Whether you’re riding a wave of success or struggling to find your footing, remember that momentum is crucial. Momentum is “a thing.” If you have it, do everything to keep it. If you don’t, focus your efforts on activities that can kickstart and build, or build back, your momentum. Even small wins can create a snowball effect, uniting your team and sparking a cycle of positivity and progress.
5 Extra Credit Considerations
Commerce Over Code:
While innovative technology is the foundation of opportunity in your pursuits, the ability to close deals, understand customer needs, and solve real problems is paramount. Find out fast what customers are willing to pay for and what “value” means to them. Reaching the “next stage of growth” often requires prioritizing sales, market fit, and easing adoption over technological greatness.
People Matter Most:
The foundation of any successful startup, or anything really, is people. Work with people who move you, challenge you, and bring light to darkness and simplicity to complexity. A healthy dose of “passion from the people” and unhinged positivity can overcome almost any challenge. Invest excessive time in hiring, caring for, and keeping the right people.
Prepare for Organizational Fragility:
As your company grows, so will the complexity of managing your team and employee community. Recognize that organizations are inherently fragile due to human dynamics –people just being people with varying degrees of ego and insecurity. Building a culture of transparency, support, and continuous learning can mitigate these challenges. So, be transparent. Be supportive. And model, from the top down, what can result from a mindset of continuous learning.
Fearlessness and Generosity of Spirit:
Fear no one and extend grace to everyone. Approach your work with confidence and courage, but also extend generosity and empathy to everyone you encounter. This balance will help you navigate competitive and other pressures while building meaningful relationships with your stakeholders.
Creativity, Courage, and Kindness:
Creativity, courage, and kindness are unstoppable. Creativity in solving complex challenges, courage in the face of adversity and the unknown and unexpected, and kindness towards yourself and others are formulas for business success, personal fulfillment, and joy.
As a founder, your journey will be unique and filled with trials and triumphs. Keeping these ten considerations in mind can help you navigate the complexities of building a startup, ensuring you survive and thrive in the “Era of AI” world we all live and work in.
If you’re a founder or simply passionate about navigating the exciting challenges of building something extraordinary, we’d love to hear from you. Have questions, ideas, or want to share your story? Visit our Contact Us page and become part of the Crane community today!