Startups: The Five Cs of Success
You’ve just joined a new startup. The world is an exciting place and you’re right in the middle of all that innovation and newness. Your friends are envious, and your mom has no idea what you do during the day. How do you know that your startup is heading in the right direction, though? After all, according to Forbes, 90% of all startups fail. Will you be among the 10%?
Here’s a playlist of social media articles for startups:
- How Diversity Attracts Valuable People to Your Startup
- The Startup Guide to Sleep
- Startups: Why Being Vulnerable Makes You a Better Entrepreneur
- Blogging Tips for Startups
- Social Media: First Steps for Startups
Customers
Real customers use your services. At first, it’s the warm leads, the friends and family, who sign up. Later, you reach out to the companies who need the services you provide. At first, the sales team is anyone who has free time to make a phone call. Later, there’s a concerted effort for everyone to pitch in. Next, there’s a real-live sales person. And eventually, an entire team, all coordinated. After all, you can’t legitimize your business without real customers.
Here’s a great article about landing your first customers on a shoe-string budget. Hint: Follow-up is key.
Confidence
Confidence can be anything from a fearlessness about asking questions to the ability to tackle changes in direction. At first, being ambitious might feel uncomfortable. But after awhile, confidence has its own momentum. Getting an entire team into the habit of being involved and committed also creates its own momentum.
As Jacqueline Whitmore outlines in her article in Entrepreneur, there are Six Actions You Can Take to Build Your Self Confidence. I particularly like: “Positive energy leads to positive outcomes…”.
Commitment
When everyone who works at your startup is excited to get to work, that’s a sign that you’ve got a good thing. During the first couple of years, that pre-launch drive translates to overwork and insomnia. Sometimes, sending an email or text at midnight and getting an answer back within minutes, is thrilling. When you’re committed, and prepped for success, the orders come in. Having “skin in the game” is a common pathway to that commitment.
Paul Graham says in his article What Startups Are Really Like (still as true in 2016 as in 2009, when he wrote it):
“What people wished they’d paid more attention to when choosing cofounders was character and commitment, not ability. This was particularly true with startups that failed. The lesson: don’t pick cofounders who will flake.”
Coworkers who are working at more than one startup will often not have the energy to get a startup off the ground.
Photo by garryknight 
Communication
If you have transparency from the founders and your team, you’ll be able to know what’s happening from top to bottom. Often what’s said out in the hallway or between meetings is the really important. But the critical thing is knowing that you can discover what’s happening quickly if you should need to know something.
You might want to consider a Communication Architecture, as Unreasonable did, which dictates the way your team talks. And the standing meeting ensures that meetings stay short.
It’s important to have a structure for your team’s communications. While more meetings are necessarily positive, regular meetings ensure that everyone’s aligned.
Celebrations
Nearly every day, something good happens that is worthy of celebrating. While there is still a lot of hard work to be done, there are also a lot of high-fives, impromptu bottles of wine and champagne being opened, and smiles. Being supportive of one another, although it might sound corny, goes a long way to making people want to stick with the crazy work hours. There are many ways to celebrate success, from a brag board to a morphing trophy, as recommended by American Express.
Is There a Sixth “C”?
Please leave me a comment and let me know what other signs of success I might have missed! And thank you.
I’d say “culture.” Creating a culture of creativity, trust, collaboration (there’s number 7, and 8) also help. That comes from spending time together. Being risky is hard on the ego. Also, the guys at work often play darts together to unwind (a little bit of competition #9). Because: it’s stressful. Here’s #10: calm. Sometimes you just have to unplug and get a massage or hang out at the beach.
Hi Bridget,
Culture is a great one. Having things in common, or doing something to unwind together helps with that culture. And playing darts? Awesome. Foosball and video games work, too! Calm at a startup? When does that happen?
Thank you for stopping by!
Carol
Paul Graham’s point that character and commitment are more important than ability is very interesting. I would be inclined to agree with him. Mindset is so important in entrepreneurship.
I’d say thoroughly researching your market and defining your unique value proposition are also very important. However neither of them start with “C”. Sorry.
Hello Clement,
I believe that Emotional Quotient is more important than ability. A person can be book smart, but not know how to talk to people. The interpersonal skills are the most important in my book.
I know what you mean about researching the market and defining the unique value proposition! Those definitely belong in a startup’s arsenal.
Thanks for commenting!
Carol