With a recovering economy and a struggling job market, it is becoming a more common dream for young twenty-somethings to run their own startup company. However, there is a difference between simply starting a business and taking on the challenge of building a successful company. When angel investors look to invest in a startup, they're looking for an organization that has a cause and a purpose – not just a young leader who "wants to be a founder."
In a recent Inc.com article, Rory O'Driscoll, an investor with Scale Venture Partners, discusses some of the reasons why an individual should want to become a founding CEO. He underlines the fact that entrepreneurial hopefuls need to keep their founding idea at the heart of everything, even if that idea changes and evolves over time, in order to stay successful.
"The best founders start with an idea and found a company to realize it," O'Driscoll said. "The idea might evolve, but by starting with an idea, rather than a simple desire to start a company, you end up with better companies."
O'Driscoll emphasized that creating a company is a serious investment and should not be taken lightly. A good strategy for new entrepreneurs is to develop a specific vision for the future of an industry and make certain that they are going to be able to make it happen. The startup simply becomes a means to an end to get to that future. Essentially, true founders own the vision, and it is one that they care about.
Creating a company, and finding ways to impress investors and possible employees, is similar to a marriage. Passion cannot be faked for years on end. There are lots of smart, witty and wonderful people that no one wants to be married to forever. The same is true for startups and small businesses. Without a core purpose and reason, it's not worth it to exist simply for the sake of a title.
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