What's your founder superpower? Super steps to rescue your startup and get funded
As a visionary entrepreneur, you bring unique insight and expertise to your venture.
But no founder is equipped to defeat every super villain that threatens to thunderbolt their startup baby.
This is why it's crucial early on to identify your preferred focus in the business, and then surround yourself with people that have the skill-sets you may lack. This might mean recruiting complementary co-founders, or carefully selecting your first few employees.
Investors know this too, which is why one of the first things they look for, is a well-rounded founding team.
We have found that typically mother nature bestows founders with one of four superpowers. Which is yours?
Focused on rapid scaling, marketing and automation of the product process. Obsessed with growing fast in order to get traction and take-off.
Champion of the product or service. A visionary dedicated to communicating the startup story, as well as posessing deep empathy for customer needs.
Yes, the details do matter. Knows how to get things done. Expert in execution, process and delivering on co-founder's promises.
Mixer of the secret sauce. Has expert product, scientific, technology or industry knowledge. Intellectual know-how and unique competitive advantage oozes out of this founder.
A team that covers each of these four superpowers is well positioned for success (and funding!).
But recruiting a league of superheros isn't enough. Here are a few more super-tools you need on your utility belt.
You might be an inspiring leader, but can you follow? Are you willing to adopt the student mindset and adapt to changing circumstances and needs? Getting funded means being able to take advice from smart money.
An investor needs to believe you are going to look after their interests and act professionally, ethically and reliably. Presenting a consistent and image and message is essential.
A founder can't go it alone. To be fundable you need to be able to recruit an A team to follow your vision. As a startup with limited resources, recruiting top talent often comes down to presenting a compelling story to your first employees, helping them to understand the impact and journey they will experience.
Your relationships with your early team will organically morph into the culture of your company. Culture is intrinsically formed by your people and how you relate to them.
Your culture is inevitably communicated to your customers, suppliers and new employees. It all starts at the top. And ultimately determines if an investor decides you are a superhero worth backing.