Startups are literally a journey into the unknown and entrepreneurs need to be comfortable with taking on ambiguity, uncertainty and multiple challenges.
Unfortunately, on average, 9 out of 10 startups will go out of business, and the remaining that are able to survive and succeed are the ones that capture the qualities outlined below. These qualities are generally deeply ingrained in the character of successful entrepreneurs and is something that we at RockThePost, an investment platform that gives access to investing in startups, look for when we deeply vet and select the companies fundraising on our site.
A well-defined vision is a skill or gift that every company leader needs in order to cross the finish line. It will be the major force behind an entrepreneur’s success and will serve as a compass in tough times. A startup needs to envision how to monetize from the very beginning. The first dollar counts, especially for potential investors.
Getting things done in a quick manner is one of the many reasons why startups are able to reach their goals and milestones. It makes a difference when a startup is able to launch on time or when it’s able to move much faster than competitors. Successful startups never delay the process of getting things done, and have to work as much as needed until something is complete. The most productive people are the ones who make the most of their time. Regarding speed, having knowledgable people in-house really makes a difference. I believe that the faster you can make the mistakes, learn from them and improve your offering, the better.