“Ideas are easy. Implementation is hard.” – Guy Kawasaki
As a development agency that primarily works with early stage startups, we hear all kinds of business ideas. You could even say that we're in the business of building business ideas; but only one's we believe will succeed, and not on our own. We know that, without a good founder to drive implementation, even the best ideas will surely fail. In fact, most give up at the first sign of real challenge, and their ideas never see the light of day. So while we spend time evaluating the viability of the idea, we must also consider if the founder has what it takes. Here are the 5 traits we look for:
1. Tenacious belief. Some traits can be learned or honed; this is not one of them. Startups are inherently difficult, demanding, and full of unknowns and disappointment. To make it through, a founder needs confidence, determination, passion, and the like - things you can't have without first believing. We're not talking about simply believing you have a good idea. We're also not talking about blind belief to the point of delusion. This is believing strongly enough in your vision that, despite the uncertainties and inevitable struggles in your path, you will do whatever it takes to see it through.
2. Domain expertise. Serious founders need to understand their market as much as possible. Ideally, you can directly relate to the problem you're trying to solve - or - you have extensive experience that gives you insight on your target market. Even then, the best founders do everything they can to consistently learn and absorb new information.
3. Communication. The greatest entrepreneurs are masters of communication. Not all start out that way, but its something to be conscious of and constantly improve. A good founder has the ability to communicate clearly, confidently, and candidly. They can clearly explain their thoughts and ideas. They use confidence to sell themselves and their vision, as well as to lead others. They can candidly express their feelings, while maintaining control of their emotions.
4. Head in the clouds, feet on the ground. Growing a startup requires constant innovation. A good founder has vision; they dream big and consistently ask themselves, "what's next?" However, that vision will never materialize unless a founder can execute in the present. A good founder can keep their eyes to the future while practicing self awareness, focus, patience, and responsible decision making.
5. Flexibility. The survival of a business, like in nature, depends on its ability to adapt. No matter how much a founder plans, new information will arise and circumstances will change; a good founder is prepared and willing to respond. Some changes will inevitably result in failures. A founder must have the resilience to pick themselves up, learn from the failures, and push on.
6. Enjoys the ride. I know I said 5 traits, but this one's pretty important too. Yes, starting a business is difficult, risky, blah blah blah...but what's the point if you can't enjoy it? Having fun will not only make your life (feel) easier; attracting advocates, customers, employees, and investors will be easier as well.
Now these aren't the ONLY things a founder needs to build a successful business, nor do they guarantee success, but we'd bet on you. So if you have a great idea and "what it takes" (see above), we should meet.