The success of a venture does not always come from the idea of what the startup must offer; it is, in most cases, the relentless pursuit of the co-founders to make it happen that derives/determines the success. In some cases, it is found that even with a weak idea, business can scale with excellent execution which provides the differentiator. Success is not something that one can achieve as an end by itself. The human mind is such that, the definition of success keeps evolving as one keeps achieving success. It is not that urge to make the business successful that yields result, it is the relentless pursuit for growth that yields.
When in a startup situation, an entrepreneur means – transcendence from inertia to action, from thoughts to execution, from lethargy to deliverance, from comfort zones to unexplored areas, and most importantly all these in a situation, in most cases, with minimal resources, where there would not be anyone to motivate.
Quality of Founders: Quality of founding team is directly proportional to the success and growth of the business. It is the founder of the founding team that comes with the original business idea, be it a product or service. They only have the blueprint in their minds of what they wish to offer. For most successful businesses, it has taken them sometime before the others realized what the actual plan is.
Blueprint, Vision, Plan & Execution: The right kind of founding team converts the blueprint in their mindscapes to vision, mission, and plan. They focus their energies in the right direction to convert them into actionable items and execution.
Chemistry, Physics, & Maths: In a situation, where there are more than one founding member, it is most important that they have the right kind of chemistry between them, which will ensure that they will not disintegrate easily. Because in business situations, especially in early-stages, these founders would be confronted with unimaginable situations, from various sources. Unless they have the right chemistry, it is tough to have a long haul.
Each one of them must have good physics, which is both physical and mental health. These qualities are extremely important in an entrepreneur who is a founder member. Without which, he/she would find it very difficult to deliver. Without appropriate skills, it would be virtually impossible to commence, have baby steps, and get traction, let alone scale and grow.
Generally, it is said that technical founders need not have commercial understanding. Yes, it is so, but it is best if all the members of the founding team understand the mathematics involved. These are only basic math, but highly important. Each one of these founding team members must know how commercially viable the project is, even before they discuss the blueprints; because, success of an enterprise is wholly dependent on the commercial viability.
The thinker and the executor: It is not necessary that every member of the founding team should be endowed with all the skills. It is best that they have a good understanding of cross skills, while they are competent at what they are expected to do. More importantly, in the nascent free musically likes without human verification days of their business, they must both think and execute, as they would have limited funds to acquire talent who can put their plans to action.
Founders need clarity: Ultimately the success of the venture depends on the levels of clarity the founders carry in their minds. Everything that starts from the mindscape such as a business idea, vision, plan, etc., will have to be constantly validated. Whether what they perceived as a market requirement is actually there, and what is planned is what is being executed, and what is executed is yielding results. It best that the founders have good understanding.