Startup is a lonely journey and brutal fact is no one will be there to guide you!
Hey Guys, thanks for opening this edition!
Today, we are going to discuss 7 Red Flags that you should avoid while building your startup
- Default alive or default dead
- Have the Right Team to bank upon?
- Are most of the time spent on distraction rather than the destination ?
- Are the followers of leadership persona more of devils than angels?
- Which direction is the company headed?
- Are you an earnest or an egotist?
- Is every team member aware of the north star metric?
Keep reading!
Today we will discuss how to identify the mistakes in the startup-set-up phase.
A sly tongue-twister to start with, but soon clarity will unfold as we progress along this article
Let’s assume Raj, a middle-aged, young, passionate entrepreneur, is paving his way in the startup industry, and he is trying his fullest to utilize his efforts to succeed but is unable to.
Of all, a 7-question check on the accountability of your startup is important to gauge the parameters deciding the success metrics of his startup and predicting the pitfalls as well
1. Are you default alive or default dead
- If yes, then he’s default alive
- If not, then he’s default dead
2. Is his team the one to bank upon?
Assuming the expenses incurred in promoting and setting up his startup remain constant, does he enjoy some profitability numbers alongside,
A healthy team bonding reflects better times coming as well as boosts productivity and growth as well.
This ensures things are on the right energy track and he is progressing on his way out there, whereas vice-versa indicates the team is falling apart and the failure of his startup.
3. Is most of his time spent on distraction rather than the destination ?
Rather than staying utmost focused, if he is getting hyped up on new trends emerging, this suggests that his work focus is suffering from distractions and he needs to work on his focus.
4. Are the followers of his leadership persona more of devils than angels?
A positive answer to this question suggests that things are very static and not moving forward, that is a negative indicator for a startup
5. Which direction is his company headed?
Visionary and successful business tycoon Steve Jobs in one of his famous speeches quoted “ A players hire A players; B players hire B players; and C players hire C players.It doesn’t take long to get to Z.This trickle-down effect causes bozo explosions in companies”.
Which means more of a committed, productivity-oriented person you are, the more of success you are gonna achieve whilst hiring and consequently their success as well.
6. Is he an earnest or an egotist?
This is a very impactful parameter during personality development and subsequently during the leadership phase as well
A successful founder is likely to care deeply about their problem statement and earnestly commit to it, whilst an egotistical founder is driven by trapping of the startup system, that is success, money, power, fame
7. Is every team member aware of the north star metric?
Failing in this leads to the team progressing in different directions, which leads to the team getting to nowhere eventually
Congrats! You now know the pitfalls and what to focus on and what not to!
Thanks for the read
What Next?
If you liked this content, follow us on LinkedIn, Twitter, Instagram, and Youtube and share it with your friends.
You are welcome to join the Founders’ Community. The only community where you can network and learn from peer founders.
If you are building your startup, don’t forget to check out our upcoming Startup Cohort.
If you have any suggestions, I would be happy to listen here.