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Starting a business is a crazy journey, right? As founders, we not only bring products to market, but we build dreams from scratch. And let’s be honest, this journey comes with its own set of challenges.
Is our goal market willing to pay large enough? Will our MVP be ready on time? How do we prove our credibility to clients and investors? How do we protect our mental property?
Every founder hopes that the list of questions is getting shorter every day, but the reality is often completely different. The further you go, the more you will shoulder and truly understand the value of getting the right people and the right mindset in your organization.
With the right team and attitude, you can overcome any obstacle that comes your way. In this text, I would like to share my observations on what constitutes a good attitude in a startup, so that you can recognize the right people when hiring or support those that are already on your team to proceed to grow.
1. Choose what is not obvious
Sometimes we are still guided by old beliefs. We are impressed by years of experience, deep technical skills or a shiny CV. Instead of focusing on the features that may build the team and make it capable of implement the idea. A team that is so committed to the project that it feels like it is their very own idea has a sense of ownership and commitment.
What then should be the priority for startups? I often recommend that the founding team focus on three easy principles:
- Choose motivation over knowledge.
- Choose soft skills over hard skills.
- Choose honesty over experience.
2. How good are we actually at learning?
My favorite quality that sets successful startup founders and their teams apart is their courage in making decisions. They are not afraid to act, experiment and take risks. They often regret not doing greater than benefiting from the opportunity.
That’s what I respect, but the most vital thing happens later if something goes mistaken – they treat it as a learning experience. They take time to reflect with their teams, draw conclusions and rethink how they operate.
When working with startups, I all the time remind them to maneuver quickly from idea to implementation. The more ideas you test, the faster you learn and the further you will go in the competition. Whether you face failure or not, remember to take time to reflect on your successes and failures, each big and small. Even consider blocking off time in your calendar for this purpose.
3. If you are unsure, just ask
Sometimes I see founders searching for investment at the mistaken stage of development. Their ideas are interesting but still need refinement: financials are unclear, go-to-market strategy is unclear, and use cases are not fully developed.
In situations like this, I all the time advise you to not hesitate to hunt as much expert advice as possible. Take part in acceleration programs, join business incubators and find mentors. There are many individuals who truly love helping ambitious people develop.
The great point is that they will provide you with an unbiased opinion on your project and any a part of it. They won’t be biased because they simply don’t share the same passion for your startup. Instead, their passion is in helping you discover limitations and opportunities you could also be overlooking.
That’s why it’s okay to ask for advice. If you don’t do this, you decelerate.
4. Love with your heart, but don’t focus on the game
This could seem counterintuitive, but a fairly common problem is when founders find their business idea and turn into too protective of it. Often even defensive.
It’s great when you have an idea and implement it, but when starting a business, you have to make certain not only of the idea, but also of its potential and scalability. Don’t miss a key stage of research and research – market size, customer acquisition cost, financial forecasts… If there is a giant in the industry, you might have to unravel a very specific problem for a area of interest group of recipients, as a substitute of making a similar product that differs only by one feature (which does not even is differentiation).
(*4*) an open attitude inside your team as you progress. Facing reality – not running away from it – should be your team’s mantra. Keep a close eye on what potential customers are really saying about your product, MVP test results, and how the market is changing. If you don’t see demand, do not be afraid to alter the situation.
Giving up on an idea is hard, but if you don’t, you may miss the one that individuals really want.