What Makes The Top 10% Of Founders Different? - Michael Seibel

What Makes The Top 10% Of Founders Different? - Michael Seibel

"Mean People Fail"

It struck me recently how few of the most successful people I know are mean. There are exceptions, but remarkably few. This observation led me to delve deeper into the qualities that set the top 10% of founders apart from the rest. Through my research and personal experiences, I have discovered several common points that connect these exceptional individuals.

Execution & Formidability: One of the key traits that standout founders possess is their ability to execute and overcome challenges. They never get stuck with execution. Instead of dwelling on setbacks, they find ways to pivot and adapt. This resilience and formidability allow them to navigate the ever-changing landscape of entrepreneurship and come out on top.

Clear Communication: Another distinguishing factor is their ability to clearly communicate their business ideas. They can explain what their business does in 1 to 2 sentences, making it easy for others to understand and get on board with their vision. This concise and effective communication enables them to attract investors, customers, and talented individuals to join their team.

Internal Motivation: The top 10% of founders possess a unique internal motivation that keeps them going even when things go wrong. They don't get too discouraged by setbacks and failures. Instead, they view them as opportunities for growth and learning. This internal drive pushes them to constantly improve and innovate, ensuring their long-term success.

Moving beyond these common points, I have also come across an interesting insight - mean people fail. It's not just about being skilled or having a clear vision; it's about being a good person. In my observations, successful startup founders consistently turn out to be good people, while consistently bad people fail as startup founders.

One reason mean founders tend to fail is that being mean makes you stupid. When you engage in fights and conflicts, you are not operating at your best. Fights are not sufficiently general and limit your ability to think objectively and make sound decisions. Startups don't win by attacking; they win by transcending obstacles and finding innovative solutions.

Furthermore, mean founders struggle to attract the best talent to work for them. A mean person can't convince the best people to join their team unless they are exceptionally persuasive. Building a successful startup requires a team of talented individuals who are motivated and aligned with the company's vision. Mean-spirited leaders fail to create an environment that fosters collaboration and growth.

Interestingly, the most successful founders are not primarily driven by money. They are driven by a spirit of benevolence and a desire to create something meaningful. This aligns with historical examples of successful individuals who weren't ruthless. Mathematicians, writers, and artists who have left a lasting impact on the world were not motivated solely by personal gain. Their focus was on contributing to society and making a difference.

In conclusion, the top 10% of founders differentiate themselves through their execution and formidability, clear communication skills, and internal motivation. Additionally, the detrimental effects of being mean and ruthless become evident when examining the failures of such individuals. To emulate the success of top founders, it is crucial to prioritize ethical behavior, effective communication, and a genuine drive to create something worthwhile.

Actionable Advice:

1. Embrace resilience and adaptability in your entrepreneurial journey. Don't get stuck with execution; instead, find ways to pivot and overcome challenges.
2. Master the art of clear communication. Be able to explain your business ideas concisely and effectively, making it easy for others to understand and support your vision.
3. Cultivate internal motivation and view setbacks as opportunities for growth. Develop a mindset that allows you to learn from failures and keep pushing forward.

By incorporating these actionable advice into your entrepreneurial endeavors, you can increase your chances of joining the top 10% of founders and achieving long-term success.