Ali Ata: Four Things to Look for in a Startup Founder
Because of his work with AAIM Development, Inc., Ali Ata interacts with business investors on a regular basis. Business investors are not always looking for established companies to invest in and earn from, some of them look for startups that have yet to make their mark, so to speak, and yet show great promise. If you want to do the same, one of the most important things you need to do is to get to know the startup’s founders. You’ll be working with them, after all, and interacting with them would enable you to gauge their ability to lead their business—and your money—toward growth.
Here are four things you need to look for in startup founders:
1. Expertise
Knowledge about their business gives startup founders an edge, not just over their competitors, but also over the challenges they’re likely to face in the future. Just because one has been in the field doesn’t mean they pass in this category, though. The founders must also demonstrate an understanding of their consumers, and a solid grasp of industry-relevant data.
2. Grit
Startups are risky and the company may not always go in the direction it originally planned. But sudden changes in path don’t necessarily portend the company’s doom. No matter what challenges may arrive, the founders must be willing to persevere. Admittedly, there are no hard metrics against which to ascertain the presence of this quality, so you’ll have to rely on your instincts.
3. Goal
Determine what higher purpose the founders have in building and running the company. This is important because when the going gets tough, beliefs don’t really go away. In fact, what founders believe in can make or break the business when such instances do arrive.
4. Charisma
The founders must have enough charisma to make the best people want to work for them or for their staff to stick with them through thick and thin. Charisma is an important trait because it tells of the founders’ ability to keep the company together for a long time.
Like anyone who has worked in business investment, Ali Ata recognizes how risky it is to invest in startups. But getting to know the founders, among other things, will help you make the best choice on whether or not you should put your money in the company.
Here are four things you need to look for in startup founders:
1. Expertise
Knowledge about their business gives startup founders an edge, not just over their competitors, but also over the challenges they’re likely to face in the future. Just because one has been in the field doesn’t mean they pass in this category, though. The founders must also demonstrate an understanding of their consumers, and a solid grasp of industry-relevant data.
2. Grit
Startups are risky and the company may not always go in the direction it originally planned. But sudden changes in path don’t necessarily portend the company’s doom. No matter what challenges may arrive, the founders must be willing to persevere. Admittedly, there are no hard metrics against which to ascertain the presence of this quality, so you’ll have to rely on your instincts.
3. Goal
Determine what higher purpose the founders have in building and running the company. This is important because when the going gets tough, beliefs don’t really go away. In fact, what founders believe in can make or break the business when such instances do arrive.
4. Charisma
The founders must have enough charisma to make the best people want to work for them or for their staff to stick with them through thick and thin. Charisma is an important trait because it tells of the founders’ ability to keep the company together for a long time.
Like anyone who has worked in business investment, Ali Ata recognizes how risky it is to invest in startups. But getting to know the founders, among other things, will help you make the best choice on whether or not you should put your money in the company.
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