What's the ONE thing all founders need to succeed?

Question

I think it's 'grit' - the determination to keep iterating and experimenting till you get it right... ... but since one of my products (twiDAQ) is 12 years old.. that might just mean I don't know when to quit! What's the *one* thing that unifies all successful founders?

Jim Morrison · Accepted Answer

@maria_brm I love this, yes... I think in order to really call yourself a founder, much less be successful, you do have to be able to innovate in some way.  Even founders who hit the market with a pre-existing idea... if they make a success of it then they have innovated some route to market that no-one else saw.  Yes. Innovation has got to be in the running for the top-spot.

Laura Linham · Answer

I think...a willingness to own up to mistakes. Honesty and transparency is so important to me. I'd hate to see places like PH and IH become LinkedIn-style 'I'm awesome look at me'.

You learn more from mistakes and experiments than you do anything else. And from founders, I see people talking about their mistakes, owning up to them, being honest and growing from it - and trying to help others from making those same mistakes. Sharing their knowledge and experience.

I think that's what makes a founder a founder - not just finding your own place and successes, but playing little teeny-tiny parts in other people's success, too.

Qudsia Ali · Answer

I completely agree with you. Continuing to do what you know is right when everyone is saying don't do it is the thing that unifies all founders, but quitting when you know it will not work is what makes them successful.

Jason Scott · Answer

I heavily agree with determination. If you have a vision of what you're trying to create and why you think the world needs it, adapt it to the market demands, you're on the right path.

I think we also think of a vision as needing to be world changing but actually, an entertaining product like twiDAQ equally adds value to someone.

Maria · Answer

@jimbomorrison Exactly! I agree! ^_^ Also, when you analyze big founders - they have innovations very often. And it scales from some tiny simple changes monthly or periodically, to big upgrades yearly or in several years.. ^_^

Jim Morrison · Answer

@qudsia_ali Ah! Yes... but when are you supposed to know it will not work!?

Jim Morrison · Answer

@jason_scott2 that's true.  I don't think "vision" has to be altruistic or world-changing to make a company a success... but it probably does need to be there to build a good enough team to realise that success.  Something something Simon Sinek something. 😃

What's the ONE thing all founders need to succeed?

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