What Does a Startup Entrepreneur (Really) Need to Succeed? - # 66
Aside from investment of course...
I participated in a VC meetup the other week as a panel speaker and one of the questions asked to us was:
โWhat does a startup entrepreneur really need to succeed?โ
The question was asked with a bit of attitude, which I fully understand. Venture capitalists tend to bloviate a lot about things theyโve never actually experienced in the trenches, so I felt for this young upstart.
I was 3rd in line to answer the question. As this was a fully digital conference, I had about 4-5 minutes to pull together an answer. I immediately began typing out my ideas into the zoom chat as I stared into the camera waiting for my turn (Itโs moments like these Iโm glad I can type ~100wpm+). ;)
Iโm proud of what I cobbled together. It feels good to know your stuff.
Since the question was asked with a bit of attitude, I responded with:
โSince youโre looking for pragmatic to-dos, get ready to take some notes. I gotchu my man. Here are my top 7 off the top of my head into some notes here. Letโs goโฆ
7 Core Needs to Succeed in Your Startup
1 - Clear Vision & Mission: You need an all encompassing clear vision and mission that aligns every one of your decisions in the business. If a decision isnโt aligned, you already know to say โno.โ
2 - Strong Team & Leadership Alignment: A skilled and committed team that complements each otherโs strengths that youโve put together based on alignment and shared understanding around the mission and vision. You can clearly tell when people in your early stage startup arenโt committed to the mission and vision, they arenโt delivering (almost) daily. Those that are completely aligned, KNOW what to do to make it happen. You donโt have time to be directing and โtellingโ people what to do in early-stage. If you do, theyโre employees, not startup characteristics you need, now.
3 - Market Understanding & Data Centric Decisions: Frankly, the best investments are in people who already deeply understand the market, their market research is much different than someone โtrying to understand the market.โ Deep knowledge of the target market and customer needs are imperative here. You wonโt ever define the market, you just play in it.
4 - Adaptability & Resilience: Getting punched in the face daily is a requirement for startup entrepreneurs. The ability to pivot and adapt to changes in the market or business environment outside of your control is the fine print you signed up for. Persistence and the ability to overcome challenges and setbacks are the only evidence of your ability to win.
5 - Speed of Execution & Customer Focus: If youโre not shipping (some) type of product or content every single day then youโve missed the narrative. You donโt know what you need to do until you find out what doesnโt work. The faster you find out when youโre wrong the faster you can get back on track. A deep commitment to solving customer problems and delivering value to them creates the feedback loops necessary to hone-in on the right problems to solve that make you money.
6 - Marketing & Social: Nobody knows about you. Nobody cares about you. Nobody wants to buy your product, now. You must be the voice and megaphone for your idea to all. If youโre not willing (in todays market) to be the face of your product, do you actually really care about it? I find it fascinating that people slow-roll their projects because it may put more spotlight on what they are โtryingโ than theyโd like. Whatโs the problem with that??? YOU WANT PEOPLE TO KNOW ABOUT WHAT YOUโRE DOING! - Get over yourself. Read the book Gravity: How to Create an Irresistible Brand, and be voice for your project.
7 - Networking & Relationships: You can always go fast, alone. But youโll need others to go farther. Building relationships with mentors, partners, and potential customers has to be a daily and weekly thing for you. This is why weโve built communities and conferences to help business builders grow their network. Join the Full Stack Business Builder Conference, and then build your idea in public in the FSBB Community.
After youโre executing daily, growing your feedback cycles weekly, and networking and meeting new people to help you monthly, then, you can find the funding you need.โ
He took good notes.
I felt accomplished.
Everyone wins.
All the best,
ps
BTW, our Advanced Startup Accelerator workshop and our Pitch Deck Accelerator are launched. Completely free.
Speaker Spotlight for FSBB.io on Jan 22!
Brian Mac Mahon โ Redefining Entrepreneurship
Founder of Expert DOJO, Brian Mac Mahon is breaking down barriers for underrepresented entrepreneurs. With over 300 investments, Brianโs focus on inclusivity and global talent is changing how we think about entrepreneurial success.
What Youโll Learn from Brianโs Session:
How Expert DOJO provides $50-100K in funding to help startups scale globally.
Entrepreneurial Accessibility: Brian is committed to leveling the playing field, making success in entrepreneurship equally available regardless of background or privilege.
Scaling Startups Globally: With a proven model, Brian helps international companies bridge into the U.S. market, providing funding, mentorship, and resources to accelerate growth.
Brianโs Take:
โGreat ideas are everywhereโitโs time to stop looking in the same old places and start building opportunities for everyone.โ
David Brewer โ Turning Innovation Into Impact
With 28+ years in the US Air Force, David Brewer knows how to turn vision into execution. His session, "Innovation Frameworks that Lead to Deployment," will equip you with the tools you need to move fast and lead confidently.
Session Highlights:
Practical agile frameworks to take ideas from concept to completion.
How AI/ML is solving real-world challenges in logistics and operationsโand how you can use it.
Lessons from mentoring over 84 innovators and building scalable solutions in high-stakes environments.
Davidโs Insight:
โInnovation isnโt just about ideasโitโs about execution. My goal is to help entrepreneurs bridge the gap between thinking and doing.โ