Flagship Bank is excited to be hosting a virtual event at Twin Cities Start Up Week this year From Start Up To still Standing- Building a Dream and Surviving a Crisis. This is Flagship Bank's fourth year Sponsoring and hosting an event for Twin Cities Start Up Week (the 2nd largest in the nation!). Even though we can't gather this year, we have assembled an amazing panel of Founders to discuss how they got started, grew their businesses and ultimately had to survive the start of 2020. We are excited to welcome John Sturgess, Owner of ADOGO Pet Hotels, Mollie Windmiller, Owner and Co-Founder of LAB and Ben Spangler and Gabriella Grant owners of Bebe Zito. That's not all, our friend and Founder Josh Fedie of SaleReach will be moderating. You don't want to miss this.
So what exactly is a Founder? By definition, a founder is "a person who establishes an institution or settlement", in other words starts something new. It all starts with an idea. What happens next is what separates the dreamers from the doers.
Make sure you register to hear what these amazing Minnesota business owners have to say!
Here are a list of some traits that take that "idea" to the next level. Do you have what it takes?
You know that pit you feel in your stomach when you’re about to do something risky? Entrepreneurs embrace that feeling because they believe the benefits outweigh the risks. This does not mean that they do not feel fear. It means that in spite of their fears, they move forward and take calculated risks.
Successful entrepreneurs are creative thinkers with vision. They may see opportunities before others do, and move forward to capitalize on them. They look for what’s around the corner, anticipating needs and finding solutions that serve others.
Entrepreneurs rely on their instincts when moving forward with an idea. If they feel strongly that it is something the market needs, it’s very likely that they will trust their gut and go with it, no matter what the naysayers say.
The best entrepreneurs do not rely solely on gut instinct. They use data to prove that their instincts are correct. Market research, testing, sampling, surveys — just a few of the tools they use to gather information about the market and idea before they invest too heavily.
The best entrepreneurs know themselves well — their strengths and weaknesses — and play to their strengths. Where there is weakness, they find others who excel and delegate tasks. This confidence allows them to make thousands of decisions that affect the viability of the business, and enables them to lead their teams.
The best entrepreneurial leaders are empathetic and authentic, allowing room for others’ perspectives, even if they are different than their own. They are great networkers and promoters. Empathy allows them to hear others, and by doing so, they fill gaps in their own knowledge and build relationships.
Many entrepreneurs are driven by pure passion. Startup founders often start businesses in fields of their expertise or interest. They put their hearts into it, and this passion fuels the enormous energy that is required to run a business. When founders pursue their passions with purpose and intention, chances are good they’ll succeed.
If there’s one thing that is constant, it’s change. Surprises are around every corner. Entrepreneurs expect the unexpected. This enables them to keep calm in the chaos. The ability to be flexible and adapt to a constantly changing marketplace is key.
Resilience allows you to experience adversity and overcome it. Being able to bounce back from setbacks is perhaps the most vital skill to being a successful entrepreneur. We all experience failure; it is often the best way to learn. It’s what you do after the failure that makes all the difference.
Successful startup founders need to be laser-focused in order to make their businesses flourish. The pursuit of excellence is a full-time job, which is why having a startup as a side hustle is extra challenging. You have to stay in the game even when it gets hard.
Even if you lack some of these qualities, as long as you have persistence, it may tip the scales. There will be stumbling blocks as you build a business. Successful entrepreneurs are determined, maneuvering around obstacles and creating new paths. They don’t give up, and that is why they succeed.
You don't want to miss our amazing panel of Founders and hear how they used these traits and so much more to become the success stories and survivors they are. At Flagship Bank, we believe in small business and are here to help support them grow any way we can.