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A lot of people believe they have what it takes to be a successful entrepreneur. While this can't be true for everyone, some successful entrepreneurs have discovered there are certain attributes that one must possess in order to truly be successful in any venture.
Adrian Tuck, CEO of Boulder's Tendril, and John Guydon, CEO of Denver-based The Lassy Project, shared their thoughts on what they think are the most crucial skills every tech entrepreneur must have.
1. You need to be a problem solver
“I think the best tech is the tech that is making people’s lives easier or better and actually solving problems,” Guydon said. “If you can do that you’ll be in good shape.”
2. Recognize opportunity
"You have to have the courage to move when other people haven’t seen the opportunity yet and combine that with the humility to listen to the advice around you,” said Tuck. “To make sure you are moving in the right direction."
3. Be able to pitch
“You can have the best tech solution in the world, but if you can’t clearly communicate why it’s important and who would want it, it won’t matter,” said Guydon.
4. Persevearence
"I would say another key skill is being able to have the optimism to see through the dark, when things get a little choppy,” said Tuck.
Guydon agreed with Tuck and also had his own take on perseverance. “You know, you set out to create a solution and you’re undoubtedly going to run into issues, into roadblocks,” Guydon said. “Sometimes you have to change a major part of your tech…if you’re relentless and you focus on solving the problem, that becomes a little bit easier to do, just kind of staying the course of achieving your goal and solving the problem and using your tech as the instrument to do so.”
5. You have to be a hustler
“Everything’s an opportunity,” Guydon whose nickname is “The Hustler” said. “…basically you have to be a doer. You learn the most after doing not before.”
6. Don’t think, do
"People make a big mistake when they overanalyze and make spread sheets for what they’re about to do,” exclaimed Guydon. “All to realize that what they did didn’t work even half the way they thought it was going to work and they’re undoubtedly going to have to make decisions and changes on that thing they did. So a better method is to, as quickly as possible, get out and get that experience.”
7. Let the consumers have a say
“Get the product out in front of the customer,” Guydon said. “Test it out, make sure that you’re getting real feedback from the people.”
8. Stay in touch with the customer
“People really have to make sure they stay in touch with the customer. They need to be in touch with the customer in testing to find out how they’re using the product,” Guydon said. “Instead of just listening to what they said or what a survey proved or what have you, but how they’re using the product and what it’s missing.”
9. You have to continue to make progress
“Continually working and reiterating and building and making progress," Guydon said. I think it’s about the journey and getting where you are,” said Guydon.
10. Knowing what to work on and what to leave alone
“With my first start up I would spend 16 to 18 hour days working hard. Planning, analyzing, figuring it out, but I wasn’t actually getting much done, and it’s an easy trap to fall into because you’re actually busy, you’re just not getting much accomplished,” said Guydon. “Especially in the earlier stages it’s absolutely critical for you to do what’s needed to actually move dirt, to move the needle. I spent in my first startup a considerable amount of time and money not doing what I really, really needed to do and that’s been a big focus for me and our team. Making sure that everything we do is something that’s going to give us results as opposed to something like just looking at spreadsheets or what have you."
While these 10 skill-sets are crucial for any tech entrepreneur, knowing how to develop them may be even more critical.
“Catharine Merigold from Vista Ventures once gave me a great piece of advice,” Tuck said. “She said that before you become a CEO, you focus on the skills that you're not good at and spend your time trying to get good at them. The minute you become a CEO, you must spend your time focused on the skills that you are good at, and surround yourself with the people who have the skill sets that aren't your forte."
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