Startups take off from the ground often with little more than a dream. So how do startup founders do it? Success isn’t easy – it takes a certain set of characteristics. Startup founders are a breed all their own and their habits make all the difference for their companies.
They Start By Asking Themselves What The Enduring Purpose Of The Venture Might Be
Startup founders tend to look at the big picture. They don’t want to just create a company that is going to stop being relevant in five years. They want a company that is going to last, and they achieve that by asking themselves up front how they will grow to accommodate a changing market.
They Ask What The Company Will Look Like In Five, Ten, Twenty Years And Beyond
Having a product that fits the market right now is great, but you are going to have to adapt. Markets change. Technologies change. Lamenting changes isn’t going to keep you in business, but being adaptable is. That’s why you have to figure out how you might pivot in five years before you even get started. Flexibility is key.
Abacab Fund Sees Mispricing In Options As Black-Scholes Has Become “Inadequate”
Abacab Asset Management's flagship investment fund, the Abacab Fund, had a "very strong" 2020, returning 25.9% net, that's according to a copy of the firm's year-end letter to investors, which ValueWalk has been able to review. Commenting on the investment environment last year, the fund manager noted that, due to the accelerated adoption of many Read More
They Look For Experiments To Learn From Before They Start
Any time you can run small scale experiments is a time you can save yourself from future frustration. Startup founders know this and they are always looking for the mistakes before they become company derailing ones. Small scale experimentation can reveal things you might not have thought about.
They Build A Network So They Always Know The Right Person For The Job
Networking isn’t just important for building your career. Having the right network means less time spent when you need that specific specialist in a pinch. Startup founders know this and that’s why the best ones still spend a lot of time networking and getting to know new people. Surrounding yourself with the right people can propel your startup into the stratosphere.
They Get To Know Themselves Really Well
Startup founders don’t have a whole lot of room to make mistakes, so knowing their capabilities going in can prevent wasted time and lost revenue. They know their personality types and what they can and can’t do so they can identify the areas where they will need outside help to move the mission forward.
Learn more about the habits of highly successful startup founders from this infographic! Do you have what it takes to build a startup from the ground up?