Strategy / Planning
Startup Founder
Related positions: Startup Founder, Startup owner, Company founderOverview
A startup founder is an entrepreneur who starts and runs a new business venture. They develop a business plan, secure funding, hire staff, and oversee all aspects of the business. They also make strategic decisions, identify new market opportunities, and manage business risks.
To succeed as a startup founder, one needs a combination of business acumen, technical expertise, and entrepreneurial skills. Some of the tasks involved in starting and running a new business venture include developing a business plan, raising capital, building a team, conducting market research, developing and refining a product or service, and marketing and selling the product or service to customers.
Startup founders must also be willing to take calculated risks and be comfortable with uncertainty, as launching a new business is often fraught with challenges and setbacks. They must be able to adapt quickly to changing market conditions and customer needs, and be willing to pivot their business strategy if necessary.
Common tasks
| Task | Related trait(s) |
|---|---|
| Researching the market to identify needs | Entrepreneurial Curiosity Entrepreneurial Resilience Relentless Execution Adaptable Innovation |
| Developing business plans | Entrepreneurial Grit Entrepreneurial Resilience Adaptable Innovation Strategic Decision-Making |
| Hiring and training a business team | Grounded Leadership Principled Leadership |
| Finding and allocating company resources | Team Catalyst Principled Leadership |
| Developing and maintaining positive relationships with investors | Grounded Leadership Feedback Agility Relentless Execution Accountability Mindset |
| Conducting research to improve products and services | Entrepreneurial Grit Entrepreneurial Curiosity Relentless Execution |
| Monitoring the performance of the company including staff and product performance | Grounded Leadership Feedback Agility |
| Making key business decisions | Decisive Leadership Strategic Decision-Making Relentless Execution Accountability Mindset |
| Building and maintaining the startup’s reputation | Entrepreneurial Grit Feedback Agility Execution Discipline Relentless Execution Accountability Mindset |
Soft skills measured by TraitForward
| Trait | No of Questions | Cronbach’s alpha (α) | |
|---|---|---|---|
| Entrepreneurial Grit | 6 | 0.76 | |
| Can they consistently persevere through business challenges and setbacks without losing focus on their long-term entrepreneurial goals? | |||
| Entrepreneurial Curiosity | 8 | 0.71 | |
| Does the candidate demonstrate a natural inclination to explore new ideas, ask probing questions, and seek deeper understanding of markets, products, and business concepts? | |||
| Grounded Leadership | 8 | 0.70 | |
| Can they lead with genuine humility while maintaining authority, without needing to be the center of attention or displaying signs of superiority over their team? | |||
| Decisive Leadership | 5 | 0.70 | |
| Can they make difficult decisions promptly and confidently, even with incomplete information or when facing uncertainty? | |||
| Strategic Decision-Making | 9 | 0.72 | |
| Can they systematically analyze complex business situations, consider multiple alternatives, and make well-reasoned decisions that balance short-term needs with long-term strategic objectives? | |||
| Feedback Agility | 8 | 0.71 | |
| Can they receive and utilize critical feedback constructively without becoming defensive or emotionally reactive? | |||
| Team Catalyst | 5 | 0.72 | |
| Can they mobilize diverse individuals into a cohesive, high-performing team while making necessary leadership decisions? | |||
| Principled Leadership | 10 | 0.71 | |
| Can they consistently demonstrate ethical decision-making, fairness, and integrity while building trust and honoring commitments to team members, investors, and other stakeholders? | |||
| Entrepreneurial Resilience | 8 | 0.70 | |
| Can they maintain composure and recover quickly from business setbacks without becoming emotionally overwhelmed? | |||
| Execution Discipline | 5 | 0.73 | |
| Can they consistently follow through on commitments and complete tasks without procrastination or requiring external pressure to maintain momentum? | |||
| Interpersonal Magnetism | 7 | 0.74 | |
| Can they naturally draw people in, establish meaningful connections quickly, and make others feel valued and understood in their interactions? | |||
| Adaptable Innovation | 9 | 0.74 | |
| Can they comfortably navigate uncertainty, embrace diverse viewpoints, and implement novel approaches when established methods no longer serve the business objectives? | |||
| Relentless Execution | 8 | 0.71 | |
| Can they consistently turn strategic plans into concrete results, pushing past obstacles and maintaining high standards while driving their team to achieve ambitious business milestones? | |||
| Accountability Mindset | 6 | 0.72 | |
| Do they readily take ownership of their decisions and mistakes, while consistently following through on their commitments to team members and stakeholders? | |||
| Growth Mindset | 8 | 0.72 | |
| Do they consistently seek opportunities to learn, develop new skills, and embrace challenges as pathways to growth rather than obstacles? | |||
| Growth Mindset | 41 | 0.79 | |
| Can they view setbacks as opportunities for learning and growth rather than evidence of fixed limitations? | |||
Find out the psychometric properties for the Startup Founder Traitforward questionnaire