The 5 essential characteristics of a successful startup founder

Whether for a startup or a structured multinational, the search strategy has many similarities. In both cases, it is very important to understand the DNA of the business beforehand and what you want to communicate in the market. On this basis, you can focus on the search for the most suitable Founder to lead the company.

In the case of searching for a CEO for a mature multinational, the process is usually carried out discreetly and thoughtfully, following a structured selection process with timelines set by internal policy. In the case of searching for Founders for startups, the process is much more agile and particularly focused on engaging them in the project. 

For us headhunters, proposing a role for a multinational requires branding efforts, using presentations and explanatory materials and prior references. The startup, on the other hand, does not have a history to present, and we must be good at selling a “dream” and an evolving project.

Another significant factor is the compensation package we can offer to candidates. In the case of a structured company, there are parameters that allow us to attract people from the competition or the market. In the case of a startup, money is not the primary lever as there is no certainty of project success, which implies finding people who are willing to take on the challenge and jump on board without many certainties. 

But what exactly are the characteristics that a startup founder should have?

The technical aspect is fundamental and, normally, most startup leaders start with a deep knowledge of the core business product or service. It is indeed crucial to know the strengths in order to communicate them in the market while understanding the growth potential. 

Communicator and networker

Technical skills have little value if the startup founder does not have a strong entrepreneurial spirit and the ability to engage with various stakeholders. Within a startup, for example, one of the most complex tasks is fundraising to fuel the company's growth. Founders must therefore be excellent networkers, mobilizing their network of contacts and creating a market network with people who believe in their idea.

Selling their idea to this network requires great communication skills. You need to express yourself in such a way as to make people dream, showing them the set goal while also highlighting the economic aspect. You need to talk to numerous people, but how? What to say?  You must be able to sell an idea even if there's not much to show and nothing tangible to touch.

I always advise founders to be agile in their strategies and to always have a Plan B. I will give a practical and real example: you have a product that allows you to create digital medical prescriptions for your pet. Plan A would certainly be to propose it to the network of veterinarians. But what if this category isn’t technical enough to adopt this process innovation? They may not understand and may not be interested in your product, but that doesn’t mean your idea isn't the right one for the future. 

Your Plan B could be to contact the pet food multinationals. But who will you turn to in this company? It becomes essential to understand who your interlocutor is and not wait to analyze the market and potential contacts when Plan A has failed. Operating on two fronts and having a Plan B ready in case of failure of Plan A helps to speed up processes, not to waste too much energy, and, above all, not to become discouraged with the risk of giving up.

 In addition to presenting your idea, it’s important to work together with others. When you start a company, you need to be skilled in technology, sales, marketing, and finance. It’s definitely difficult to do everything alone, right? So you need to open up to others, trust, and be a good team player.

A high level of resilience

The lack of resilience among startup founders is fatal for the project. It is unlikely that the first person you meet will fall in love with the idea and give you the funds. Many doors will close, so you need to be a strong and resilient person, and sometimes you need to sit down and rethink the positioning of your idea.

Think first: “Is it really in my DNA?”

If someone wants to launch an idea or join a startup, certain qualities must be deeply rooted in their personality. You need to be brave, willing to see how far you can go, and push to achieve a goal. 

It’s a bit like when you ask a climber why they want to scale Everest. You can be a great climber even if you only climb on Sundays, but if you want to reach the top and accomplish such an important feat, you must be aware of the risks, yet you will still dive headfirst to pursue what you believe you can achieve. Do you have the courage to push and see how far you can go? Not everyone has the courage to not think too much about all the related risks, so you really need to ask yourself beforehand if this is in your DNA.

Passion and willpower with a positive mindset

The last thing, but not the least, is to have passion and willpower. If you have a passion, it means you dedicate your time to it, and this time doesn’t weigh on you. It’s a real fortune to find your passion and be able to make a living from it because not everyone has that opportunity. Passion allows you to give your best because you always want to experiment, and this satisfies you.

 Similarly, it would have been impossible for me to start Kilpatrick Executive Search if I hadn't had a strong interest in people. If I hadn’t been interested in getting to know the person in front of me and hadn’t had the drive to understand how to push this person further, it would have been particularly complicated to put all the dedication I've given to this company over the years. Yet, even willpower and interest in the idea can allow someone to push beyond.

It is essential to have this type of passion and willpower, considering that there will always be moments of discouragement, times when you feel that others don’t understand you, that they don’t share your passion for the idea. 

In addition to this, a skill that is accessible to everyone and can bring great benefits to those working in a startup, in my opinion, is to always see the glass half full. This approach allows you to transmit this positivity to others, and, very likely, you will be able to get much more from them.

Alone or in company?

You can certainly decide for yourself if you have the passion, if you are a good communicator, and if you have the technical skills. In this case, you can create your business independently. Sometimes, as has also happened in Startup Bakery, someone has an idea but knows they are not the right person to develop or lead it, so they look for someone else to bring this idea to market.

However, while you can feel your own passion, it is much more difficult to assess whether the person you hire has the same passion and the right skills. One possibility to steer the search toward a successful solution might be to look for someone who has already had the opportunity to create startups. In this case, it is very likely that the above-mentioned skills are present. The alternative is to look for an expert with good seniority, the technical ability we are interested in, and who, in the last years of their professional career, wants to dedicate themselves to a challenging project and lead a startup.

In conclusion, there is no perfect recipe for the good Founder just as there is no perfect recipe for successful startups. However, there are characteristics that can make a difference in the success of a project, and, from experience, I can affirm that those just listed are.

Startup Bakery is the Italian startup studio specialized in creating B2B SaaS companies with Artificial Intelligence. We offer aspiring Co-Founders the opportunity to develop a business idea. We create investment opportunities for Professional Investors. We help companies in the innovation process.