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Uzone.id – Starting a business is thrilling yet challenging, and being a startup founder is even tougher. Founder is the core of the business, they have an idea that they believe could be profitable. So, it takes a wide range of skills to be in that place.
Founder is not just building a startup, but also to grow and sustain it. Success for a founder often comes down to hitting key milestones, like going public or achieving steady growth.
In the early days, founders are responsible for building a strong team with complementary skills to keep the company alive and solve challenges as they come. Let’s now dive deeper into the necessary skills for a startup founder.
Leadership
Good leadership is essential. Founders can’t build a company alone—they need a strong team. A leader’s job is to unite the team and ensure everyone is working toward the same goals. As the team grows, leadership skills become even more important to keep things running smoothly, guide employees, and maintain focus on the company’s vision.
According to a survey by Harvard Business Review, 60% of failed startups attribute their downfall to poor leadership and team dynamics.
Open-mindness
The only certainty in tech is change or shifting, and it goes the same for startups. It could be from economic crises, consumer trends, etc. That’s where founders must be open-minded to adapt and spot opportunities in these challenges.
Founders should be flexible and willing to adapt their strategies and operations in response to new information and circumstances. Being open to new ideas and feedback is key to staying agile at achieving your company’s goals.
Faster Capital stated, “An open mindset can help you weather the inevitable ups and downs of startup life. If you’re open to feedback and willing to learn from your mistakes, you’ll be better able to bounce back from setbacks.”
Decision-making
Making smart, quick decisions is a must-have skill for startup founders. Quick, well-informed decisions are crucial for seizing opportunities. A founder’s decision can shape the startup’s future—whether it succeeds or fails–so mastering the ability to weigh risks and make quick calls is a must.
If you think you don’t have this skill, then leadership coaching can really help founders sharpen their decision-making skills and improve their judgment.
Strategic Thinking
Another skill that a founder should have is strategic thinking. This skill is a key to stay ahead in a competitive market. Strategic thinkers know when to pivot and can quickly adapt to changes in the market, giving them a big edge over competitors.
“This skill enables them to develop comprehensive business plans, assign resources effectively, and adapt their strategies as needed,” quoted from Futuramo.
It involves analyzing trends, spotting opportunities, and predicting challenges. With this skill, founders can create solid business plans, manage resources wisely, and adjust their strategies when needed.
Communication
Research by Gallup found out that teams with clear and open communication are 25 percent more productive and 21 percent more profitable. Just like communication on a daily basis, this skill is vital for founders. They must be able to clearly express their ideas to all sides–their team, customer, investor and the outside world.
This skill will help in networking and building strong professional relationships. Whether talking to employees, partners, or investors, good communicators have the ability to adjust their style for different audiences.
Digital Marketing or SEO Knowledge
In today’s digital world, having basic SEO (Search Engine Optimization) knowledge is a huge advantage. HubSpot reports that 61 percent of marketers say improving SEO and growing their organic presence is their top inbound marketing priority.
SEO helps make sure your product or service ranks high on search engines, driving more traffic and sales. Even if founders can’t become SEO experts, understanding the basics can go a long way in boosting a startup’s online presence.
Analytical Thinking
CB Insights found that 38 percent of startups fail due to running out of cash, often because of poor analytical skills in managing finances and forecasting.
That’s the reason why thinking analytically is crucial for problem-solving in areas like funding, team-building, and business strategy. Founders who can break down data and analyze trends will make smarter decisions that lead to better outcomes for the company.
Management
Founders need solid management skills to keep everything organized—finances, risks, and time. In startups, time is money, so founders must manage it wisely. This includes knowing when to push hard and when to take a break. Strong management also extends to building a positive company culture and effectively handling people.
Technical Language
Communication between technical and non-technical teams can be tricky–and often create misunderstandment. Founders who understand basic technical language will have an easier time to connect with their IT teams, they can align goals, and avoid miscommunication.
You don’t have to be an expert, but knowing the fundamentals makes a huge difference for your startup and team.
Mastering these skills won’t happen overnight and can be trained with a learning-by-doing method. But they’re essential for any founder to aim for their company’s success.
