The Top 5 Skills You Need To Be A Highly Effective Startup Founder
Business experience certainly makes a difference. In fact, research shows that, on average, older and more experienced founders outperform younger entrepreneurs. While wise and experienced founders may have an edge, they’re not always on top. Many young and inexperienced entrepreneurs are also able to build successful businesses. Besides experience, what else predicts the success or failure of a startup founder? Here are the five key skills you need to be a highly effective startup founder.
On top of the list is your ability to last. Business success is the sum of small wins over a long period of time. The bad news is, the small wins will always seem insignificant. Seeking overnight success no matter how success is defined will most likely lead to failure because there will always be other opportunities that seem easier to get better and quicker results. True entrepreneurs are in it to make a change. Perseverance is the most important part of this journey.
In order to persevere and persist, you must be open for change. Many entrepreneurs are hesitant to change ideas, goals, execution plan and management style especially after spending months studying and planning the next stages. The plan will change and so will the direction and goals, in fact, sometimes even dreams change.
Openness for change is easier said than done but key to the long-term success of the entrepreneur and the business. Plans are created based on historical data and experience. They can’t accurately predict the future. They’re created to be changed. Therefore, spend less time planning and more time doing and stay open to change direction quickly.
3. Risk Taking
While research and planning can help you make wiser business decisions, no matter how much time you take to evaluate your options, at the end of the day, you will be...