From securing investments, finding the right distributors and hiring the perfect team, being a startup entrepreneur means wearing many different hats. Here are five roles every entrepreneur can expect to play in their startup:
The Cheerleader.
The leader of a startup must have the skills to cheer on and motivate their team, even in the darkest of times when funds are low and customers aren’t knocking on the door. But their cheers must ring far beyond just the employees! Entrepreneurs must constantly celebrate their service or product and remain positive at all times, whether it’s during a networking event or a pitch meeting. People feed off of the leader’s emotions, so keep it light and upbeat.
Investor Manager.
Managing your investors means more than just finding funding and getting the check. After someone has invested in your business, it’s your job as the startup entrepreneur to keep him or her happy. Know when they expect business updates and always provide these updates on time. Understand the best way to deliver bad news to the investors, and try to find a silver lining to soften the blow. Most importantly, manage their expectations so there is an open, honest relationship that will hopefully lead to success and financial gain for both parties.
Salesperson.
Obviously, no startup can exist without sales to keep things running. As a startup entrepreneur, guess who the number one salesperson in your company is? You! Around the clock, you should be selling your service or product. This doesn’t mean just pulling in potential customers for your business (although this is incredibly important). Selling your startup means pitching to investors, recruiting the finest employees and retaining current employees. Make everyone around you a believer in your business, otherwise, you won’t have a chance in succeeding.
The Strategist.
Behind every successful startup is an entrepreneur who has carefully planned for the future. Mapping out the business, figuring out what capital is needed, how to acquire customers…all of these things must be decided through a strategy developed by the startup entrepreneur. As an entrepreneur, you can’t rely on others to make the big decisions for you, or to figure out where your company will be in five years. It’s your role to buckle down and plan ahead.
The Listener.
Success depends on whether or not the startup entrepreneur is willing to listen to those who give constructive criticism and feedback. It is up to the entrepreneur to not only carefully listen to anything that comes his or her way, but also decide if action is needed based on the feedback. Nothing good ever comes from turning a blind eye to obvious problems within the business, so be open to change and suggestions from trusted advisors.
What role is the most crucial to success?
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