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:
“What does a startup entrepreneur really need to succeed?”
The question was asked with a bit of attitude, which I fully understand. Venture capitalists tend to bloviate a lot about things they’ve 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 (It’s moments like these I’m glad I can type ~100wpm+). ;)
I’m 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:
“Since you’re 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. Let’s go…
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 isn’t aligned, you already know to say “no.”
2 - Strong Team & Leadership Alignment: A skilled and committed team that complements each other’s strengths that you’ve put together based on alignment and shared understanding around the mission and vision. You can clearly tell when people in your early stage startup aren’t committed to the mission and vision, they aren’t delivering (almost) daily. Those that are completely aligned, KNOW what to do to make it happen. You don’t have time to be directing and ‘telling’ people what to do in early-stage. If you do, they’re 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 ‘trying to understand the market.’ Deep knowledge of the target market and customer needs are imperative here. You won’t 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 you’re not shipping (some) type of product or content every single day then you’ve missed the narrative. You don’t know what you need to do until you find out what doesn’t work. The faster you find out when you’re 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 you’re 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 ‘trying’ than they’d like. What’s the problem with that??? YOU WANT PEOPLE TO KNOW ABOUT WHAT YOU’RE 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 you’ll 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 we’ve 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 you’re 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.”
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 – Redefining Entrepreneurship
Founder of Expert DOJO, Brian Mac Mahon is breaking down barriers for underrepresented entrepreneurs. With over 300 investments, Brian’s focus on inclusivity and global talent is changing how we think about entrepreneurial success.
What You’ll Learn from Brian’s 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.
Brian’s Take:
“Great ideas are everywhere—it’s time to stop looking in the same old places and start building opportunities for everyone.”
David Brewer – 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 operations—and how you can use it.
Lessons from mentoring over 84 innovators and building scalable solutions in high-stakes environments.
David’s Insight:
“Innovation isn’t just about ideas—it’s about execution. My goal is to help entrepreneurs bridge the gap between thinking and doing.”