To build a successful startup, you need to have a great idea, the right investors, and a unique positioning. But more than that, you need to be an exceptional leader to lead the startup and make it last in the market.
Startup leadership is a unique art that not everyone has. You can be an entrepreneur, but becoming a startup leader requires extraordinary effort.
Hence, only a small number of entrepreneurs can transform themselves into good startup leaders.
When you start a startup, you become the helm of your company. You decide the direction and path your startup takes. Therefore, it is very important for you to have good decision-making, management, and leadership skills.
Focus on Future Goals
Growth in a startup is the result of goal setting and implementation. Setting the right goals, recognizing and implementing the best course of action are the two most challenging things in a startup.
Visionary leaders plan and define their future strategies well in advance.
One such leader is Elon Musk, who is always thinking about the future. While many space agencies are still thinking about sending their astronauts to the Moon, his mission is to send people to Mars in the next five years.
Once the goals are set, leaders keep thinking of new and innovative ideas to achieve them. They try to find thoughts that can help them achieve these goals. Every day and with every step, they try to get closer to their goals. In this way, they achieve their goals well before the deadline.
Ability to Calculate the Risks of Decisions Taken
There is a fine line between reckless decision-making and calculated risk in building a startup. Good startup leaders always evaluate and measure their decisions before implementing them. But at the same time, they are always ready to experiment and come up with new ideas. They are never afraid to fail when taking risks.
Michael Stelzner, CEO and founder of US-based media company Social Media Examiner, once wrote that being willing to experiment with innovative ideas is crucial to business growth. According to him, if you never try, you will never profit. He also talked about how taking risks and failures are stepping stones to success.
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However, when taking risks, the consequences and dangers must always be evaluated. Great leaders assess whether the reward of the risk is worth it before taking it. They never do something just because their competitors are doing it. They assess whether it is beneficial to their startup or not.
Always Learning and Continuous
Great leaders have a lifelong thirst for learning. Harvard Business Review research shows that leaders in continuous learning mode build stronger leadership skills than their peers. They continue to expand their knowledge to innovate and get better every day.
In 2017, Zomato CEO Deepinder Goyal types of whatsapp numbers personal business and virtual told the Economic Times that his mentor and Info Edge founder Sanjeev Bikchandani had given him the hunger to learn from his mistakes. He also said that no one can be 100% right all the time, and therefore everyone should keep learning from their mistakes.
Reading books & magazines, listening to podcasts, learning new market strategies, and reviewing new technologies are habits of leaders that make them constant learners. These habits help leaders to think of innovative ideas and stay ahead of others.
Adapting to an Ever-Changing Environment
Building a startup is always a disruptive idea that provides new solutions to society. Thus, the business environment is more unstable for startups compared to regular businesses. Especially in new technology-based startups, progress and change are fast and very common. Therefore, leaders are vigilant to predict these progress and changes long before they occur.
Mark Zuckerberg has an interesting way of generating ideas and innovations to face the changing scenario in the social media field. He conducts “hack-a-thons”, where programmers, developers, and hackers try to create and suggest innovative ideas for Facebook.
Smart startup leaders always have a visionary and open mind. They are open to all kinds of ideas and thoughts to quickly adapt to the changing environment.
Not Caring for Yourself
Generally, successful startup leaders are those who are always selfless. Before thinking about themselves, these leaders think about their vision, company, employees, and customers.
Selfless leaders share their knowledge, skills, and experience with other team members and focus on the overall development and growth of the phone number mx startup. These leaders demonstrate qualities in enabling and helping others in the organization.
Mary Barra, CEO of General Motors, once said,
Successful leaders like Mary Barra understand and share good feelings for both team members and customers. Focusing on the growth of others is a hallmark of successful startup leaders. They allow others to take the front seat and shine.
Conclusion
The golden rule of startup leadership is to never copy another startup leader. You have your own way of doing things. Focus on honing your skills and find a path you can explore.
However, never stop learning about what others do to lead their startups, as you may find new ideas in doing so.
Ultimately, no one can exhibit all the characteristics of a good leader. But trying to absorb as many good traits as possible will help you become a better leader.
To create a successful startup, you also need a good system, for example for your bookkeeping process. To ensure that all financial flows are monitored and run optimally, make sure you use a bookkeeping system that offers convenience and suits your business needs as it develops.
One solution you can choose is to use cloud-based accounting software such as Accurate Online. By using Accurate Online, you can easily monitor bookkeeping, create and check financial reports, and manage business taxes wherever and whenever you want.
