“Successful Founders, Consultants & Freelancers have certain traits in common – some are inherent born with, others you can learn. Do you have what it takes and are you willing to go for it ??? Peter/CXO
Founders Topics: Vision, Passion, Talent, Independence, Persistence, Risk & Opportunity, Curiosity, Challenge, Creativity, Priorities, Time Mgt, Confidence, Inspire, Flexible, Family Support.
Why? There’s a reason the top Founders are as successful as they are. Even with fame and fortune, it takes much more to successfully start and maintain a business. Those who have formed multiple companies or helped create the highest-impact & most profitable businesses have been successful because of the traits & habits they intentionally cultivated. The qualities they have might seem intrinsic, but they’re by no means un-learnable. Successful Founders often spend years refining & practicing their craft, meaning anybody has the potential to develop these abilities with the right focus & effort. Doing so not only helps you run a business, but it also improves your productivity in everyday life. Here are 12 traits the best founders have in common that can improve your communication, production and leadership — and can be learned:
1. A clear, strong Long-term Vision. Founders starting a company that begins to succeed is one thing. Maintaining that success for years is entirely different. At a business’s founding, one is looking for market opportunities & areas for growth. Once it’s begun, tho’, it’s tough to continue looking toward the future. There are always fires to put out and problems to solve in the present. Dealing with these can be all-consuming. Ignoring and letting them grow is a common mistake. It means leaders aren’t preparing for the changing world.
2. A deep Passion for your Vision. . . (can mean Cashin in later) Founders require well-above-average amounts of work & mental energy. Therefore, without intense passion & energy for the work at hand, consistent effort isn’t sustainable over time. The best Founders love their craft and the problems they’re solving. They don’t start a company for the fame or fortune. They do it because they deeply care about the problem they’re solving.
3. Know your Talents & Capabilities. A deep understanding of yourself is necessary, in order to effectively manage the necessary work of Founders. They need to know what it will take to unwind, so they can renew & recharge in challenging times. The best know where they’re weak, so those vulnerabilities don’t have a (-) impact. They also play to their strengths so they can delegate work & utilize others’ skills where they are weak. This enables them to maximize their productivity, efficiency & energy.
a) Independent. You’re going to have to make decisions on your own. Rejection will happen. You have to trust your instincts and work with your own motivation of passion.
b) Strong Persistance – An unwillingness to give up easily. Starting a business is one of the most challenging undertakings a person can accept. It requires an enormous variety of different energies & efforts, ranging from dealing with logistics to hiring, to taking responsibility for others’ financial well-being. Consequently, it takes perseverance & determination to start a business and deal with these ups & downs. The best founders refuse to give up easily. When a situation gets tough, instead of looking for ways out, they embrace the challenge. It’s not any easier for them. They’re simply more willing to “persevere” through the stress & restless nights to meet their goal.
c) Able to Assess the Risk & take the Opportunity. When you’re one of the Founders, you have to measure the risk of every decision you make. If you can’t face the uncertainty of the opportunity, you’re not going to make it in the Startup world. There will be times when you don’t have a few days to make a decision. You have to balance the risks of making a quick conclusion vs missing out on the opportunity.
d) Undying Curiosity – A deep desire to always question – to learn. There’s a reason few people start a business. Beyond the difficulty, it requires looking at the outside world to identify an opportunity. To do that, one has to question the world around them. They have to ask “why” things don’t exist & “why” reality functions the way it does. Then, they have to capitalize on the opportunities that have emerged. The best Founders do this – not only when getting their companies off the ground, but also while growing each day. They have to question their success thru measuring metrics toward meeting their goals.
e) Challenging the Status Quo. This often requires challenging fundamental beliefs. It’s easier to take things as a given — we don’t need to always exert mental energy or effort to question things. Instead, we can let our automatic processes make decisions for us. The best Founders push back on those widely held beliefs. Although it takes significantly more mental attention, they work toward identifying the primary issues of the problems they tackle. Then, they can develop solutions much more creatively & pragmatically.
f) Creativity. You’ll never flourish in business if you can’t be creative. It’s not just about having new products, but also Founders need innovative marketing techniques of finding new ways of reaching customers.
g) Priorities & Time Management. You can’t spend so much time working for one customer, when another has deadlines that can’t be missed. No one can work 12hr daze, 7 days/weak indefinitely without burning-out. You have to manage your time to give yourself breaks. These breaks will energize you and clear your mind for new ideas to come thru.
h) Confidence. If Founders don’t believe in their ideas, they won’t be able to persuade others to get behind them. Sometimes, you just have to “Fake it until you Make it”.
i) An ability to Inspire others. No matter how smart or capable you are, if nobody joins you, buys you, you can only accomplish so much. Therefore, getting other people on board is a critical step. The best Founders are able to effectively communicate their mission, vision & other ideas to others. Running a business means convincing other people to spend their lives — and, ideally, some of their best years — working toward your dream. That’s a big undertaking. It requires immense skill to articulate your Vision. More importantly, you have to be someone others want to work with. How you go after that vision means as much as the vision itself.
j) Flexible – so they can “adapt” to changing Circumstances. The best Founders listen to employees ideas, are constantly learning & adapting – in order to maintain their Startup’s success. They also do so to become better leaders & livers (not the body organ, better lifers), making sure they grow as their companies do.
4. Family Support. Although this might be financial, it’s also very emotional. It’s draining when you begin your business. You have to spend time catering to clients, marketing, finding support staff, & watching your cash flow. You might go month/s without getting $$$. If your family isn’t behind your decision, it’s going to be difficult when things get tough.
Comments: Do you know of any other Traits of Successful Founders?
from The American Genus 13 Sep 18 & Entrepreneur Zine 07 Aug 18 enhanced by Peter/CXO wiz4.biz