How To Be a Great FounderAug 15, 2016 Blog Entrepreneur , Founder
Before starting the journey of entrepreneurship, you must ask yourself, “am I ready?” If the answer is no, then ask yourself, “how do I get ready?” You must decide what kind of skill set you have which will benefit your business. “What kind of founder am I?” is another question which will surely cross your mind. Well, there is a profile when it comes to successful entrepreneurs. There is a perception that they are some kind of super person with super powers. That’s what Steve Jobs, Mark Zuckerberg and Bill Gates are right? Wrong.
Each entrepreneur has a certain skill set and different qualities. This leads you to the next question, “should I have partners in my business?” If every entrepreneur has a different set of skills, 2-3 co-founders is the way to go, considering you trust them. Having partners in your business makes it more attractive to investors. When setting up your business, location is a very important factor as you will need to network for problems and tasks. These networks should be strong and in the industry of your business as they will assist you in gaining further knowledge and learning new skill sets.
Speaking of skills, being a founder does not mean that delegation becomes your own responsibility. As a founder you need to work and delegate, so a bit of both would be right for your business. The same holds true to be flexible and persistent. You must always remind yourself to have the same vision and to stay on track. Do you have fear or belief? Again, a bit of both. It is a good balance when you are able to be flexible along these lines. Founders are seen as risk takers and this is true. This is part of the skill set when beginning to take risks, ensure that they are intelligent risks and the way to do that is by minimizing other risks.
Although there are many tasks and projects on the go all the time, as a founder it is important to keep your local and long term vision in mind. Every step of progress needs to speak to your long term vision. Always finish a campaign with the next campaign in mind and how it is going to get you to your long term vision. Essentially as a founder you must have the ability to adapt and to learn and to make the most of the networks around you.
Reid Hoffman, founder of LinkedIn and Partner at Greylock Ventures, has been on this journey and addresses many of the questions and confusions of how to be a great founder on a podcast which you are able to read the transcript of here.