facebookOther than having financial capital, what does it take to not only start a startup but to maintain a startup and eventually grow it? What are key traits a businessman or startup founder must possess? - Seedly

Anonymous

18 Nov 2020

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Other than having financial capital, what does it take to not only start a startup but to maintain a startup and eventually grow it? What are key traits a businessman or startup founder must possess?

My close friend and I are interested in starting a startup of our own but we sometimes question if we are made out for it. Any advice for us will be very helpful.

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Val Yap

18 Nov 2020

Chief Executive Officer and Founder at PolicyPal

Hi Anon,

I have written a book - titled Balls Inc. ā€“ aimed at encouraging more young women to join the tech industry, as well as getting companies to embrace a more diverse style of leadership.

It is important to speak with your loved ones before you embarked onto this journey as an entrepreneur as running a startup is almost like running a marathon. Without the support from my family giving me space and moral support throughout the past 5 years, I wouldnā€™t have come this far. Just to name a few key traits that I believe is really important for a startup founder -

Determination - My earlier days on the running track trained me well in this trait. I would even call it a skill because it is something that you need to keep building onā€”especially when times get tough. I see parallels between long-distance running and building businesses. When running, you train your mind to keep pushing through, even when your body wants to give up. Going and chasing after all those business partnerships is also where a strong mind is needed.

Creativity - I think of so many different ways to reach out to potential teammates, business partners, investors, think my way out of the box to solve problems. Thereā€™ll always be problems, and thereā€™ll always be new and innovative ways to solve them. Thatā€™s what makes life so interesting.

Grit - In this industry, you must be gritty because the start-up life will throw you curveball after curveball. And you need to be ready to get up over and over again each time you fall.

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