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Starting a business is a wild ride, isn’t it? As founders, we’re not just launching products but building dreams from the ground up. And let’s be real — this journey comes with its own set of challenges.
Is our willing-to-pay target market large enough? Will our MVP be ready on time? How do we prove our credibility to clients and investors? How do we protect our IP?
Every founder hopes the list of questions gets shorter every day, but the reality is often quite different. The further you go, the more you find on your shoulders, and you come to truly understand the value of having the right people and mindset in your business.
With the right team and attitude, you can tackle any hurdle that comes your way. In this article, I want to share my observations on what makes a great startup mindset so that you can spot the right people when hiring or support those already on your team in continuing to develop.
Related: The 5 Biggest Challenges Our Startup Culture Must Overcome
1. Choose what’s not obvious
Sometimes, we still follow old beliefs. We get impressed by the years of experience, deep technical skills or shiny resumes. Rather than focusing on the traits that will build the team and make it capable of bringing the idea to life. The team that becomes so invested in the project that it feels like it’s their own idea, having a sense of ownership and commitment.
So, what should startups prioritize, then? I usually recommend a founding team to focus on these three simple principles:
- Choose motivation over expertise.
- Choose soft skills over hard skills.
- Choose honesty over experience.
Related: 7 Steps to Build a Winning Sales Culture
2. How good are we at learning, really?
My favorite trait that sets successful startup founders and their teams apart is their courage in decision-making. They’re not afraid to take action, experiment and take risks. They tend to regret not doing something more than acting on opportunities.
This is what I respect, but the most important part happens later if something goes wrong — they treat it as a learning experience. They take the time to reflect with their teams, draw conclusions and rethink their course of action.
When working with startups, I always remind them to move quickly from idea to realization. The more ideas you test, the faster you learn and the further ahead you get in the competition. Whether you face a setback or not, make sure to dedicate time to reflecting on your successes and failures, both big and small. Consider even blocking off time in your calendar for this purpose.
3. If you are not sure, just ask
Sometimes, I see how founders pitch for investment at the wrong stage of their development. Their ideas are interesting but still need improvement: the financials are vague, the go-to-market strategy isn’t clear, and the use cases aren’t fully developed.
In these situations, I always recommend not shying away from getting as much expert advice as possible. Participate in accelerator programs, join business incubators and find mentors. There are so many people who genuinely love helping ambitious individuals thrive.
The great thing is that they can provide you with an objective opinion on your project and any part of it. They won’t be biased because they simply don’t share the same passion for your startup. Instead, their passion lies in helping you identify the limitations and possibilities that you might overlook.
So, asking for advice is okay. Not doing it slows you down.
Related: Asking for Help Just Might Be the Key to Your Business Success
4. Love with your heart, but keep your head in the game
This might sound counterintuitive, but a pretty common problem is when founders find their business idea and are too protective of it. Often even defensive.
It’s great when you have an idea and act on it, but when you start a business, you need to be sure not only of the idea but also of its potential and scalability. Don’t miss the crucial stage of analyzing and researching – market volume, customer acquisition cost, financial projections… If there’s a giant in the industry, maybe you need to solve a very specific problem for a niche audience instead of creating a similar product that differentiates just by one feature (which is not a differentiation even).
Keep an open-minded attitude within your team as you progress in your development. Facing reality — not going away from it — should be your team’s mantra. Track carefully what potential clients really say about your product, the results of your MVP testing and how the market is changing. If you don’t see demand, don’t be afraid to pivot.
Letting go of an idea is tough, but if you don’t, you might miss out on the one that people truly need.
