Thoughts for First time Founder CEO

“Timing, perseverance and 10 years of trying will eventually make you look like an overnight success.” Biz Stone, Co-Founder of Twitter  

That quote struck me as I hear frequently the painful groans of new business founders. Building and running a successful business is a common goal for an entrepreneur, yet getting from idea to reality can be a true test of physical, mental and spiritual resilience.

As I have sat in the middle of hundreds of discussions with first time founders and CEOs, there are a few themes that bubble up consistently. Today I share a few words of advice that today that may offer value.

1. Surround yourself with people who know more than you in specific complementary areas. Finding advisors, investors, mentors that have walked a similar path to where you want to go can be the most important first step as someone with a novel business idea. Stand guard at this pool of people getting too large or conflicting, you will dilute your focus.
2. Know that no one will care more than you. It isn't uncommon for a founder CEO to get frustrated when their team does not seem as committed. Perhaps they aren't working 23 out of 24 hours a day, or don't take your call on Sunday morning. Those who implement a founder's vision should buy-in and work extremely hard, but manage your expectations that the commitment you have to your idea will be greater than most added along the way.
3. Prioritize a clear product/market fit, with a roadmap for revenue. As someone who works closely with engineer and scientific founders early on, I have seen far too many times the early miss on a clear vision towards profitability. What problem does my product/service solve, and who is going to pay for it has to be the place you start. A sustainable business model should come from this early work, of which investors will want to understand as they perform due diligence.
4. Build a high performance team. The number one challenge new leaders have is building the team that will carry the company forward. Focus on who will share your vision and see the true opportunity, and the skills that complement yours. Hire proactively and understand the hiring experience is a clear sign to the marketplace on what culture you are building.
5. Empower your high performance team. Once you have the right team in place, let go of managing everything, and allow your experts to shine. This handoff of responsibility is critical to ensuring the company robustly supports future momentum.
6. Separate the health of the company from the health of you. When a new company is starting, it is common that the founder is living and breathing the narrative every single day. As an organization develops, the company will gain independence through positive progress of the team, and the founder's role will change. The founder's work will no longer be the sole driver of success, it will be a larger group effort. It is important to have awareness when the health of the company requires you, as the founder, to move out of the way.

Those who dream big, work hard, and get the right mentorship, team, and investment can have have a shot at success. Founding a company can be the most rewarding experience in a career, but it can also be the hardest on every facet of your life. Stay the course in building for a successful company with a clear vision, and trust those around you to carry it with you to fruition.