The perfect startup founder for accelerator
There are a lot of founders who succeed, and there are some key features that are common for absolutely all founders of successful startups. This is something we are especially paying attention to here in Sector X.
What does it mean to believe in your project? If you work on it, you definitely believe in something, don’t you? Yes, indeed. There is a thing you should believe in so strong that you are not going to leave your project when hard times come, and when it might seem that you are doing absolute bullshit. It is important to understand that there’s going to be much more skeptics than those who believe. And skeptics are always louder.
In such moments, it is essential to keep your faith in what you’re doing. Not in many features, not in product design, but rather in a fact that you deeply understand your clients, their lives, their pains, and inconveniences. In your ability to make a decision and your vision of this decision.
To not surrender – this is about faith and determination.
Flexibility in startups – it’s about an ability to accept the feedback and market signals, and analyze them properly. This trait is balancing the founders’ blind faith in the perspectives of their projects. Founders who are stubborn believers rarely survive. Why is it so? Because it is super rare that a startup is doing everything right from the first attempt. It is a typical story when there are plenty of micro and macro failures, which can be considered as a feedback from the market. If you don’t analyze that feedback and don’t change anything in a startup, it will simply lead to the death of the project.
What makes you set global goals? What makes you fly to San Francisco and live there in a basement working 25 hours a day? It’s ambitions. If you want to earn 1000 dollars, you will never build a 1 billion company. That is why we pay attention to the level of ambitions of the founders.
The ability and desire to make a startup your main job is correlating directly with your chances for success. Moreover, for us as an accelerator, it is also a reflection of the fact that the founder can take a risk and strongly believe in his project. If the way to success for the founder is linked to this only startup, he will be doing everything to make it happen. If the founder’s attitude to the startup is just like for another opportunity – will it happen or not? Then, probably not.