The meaning of being a founder is to be the one who starts the organization (country, startup, movement, etc.). They come up with the initial goal, they look for funding and people who are going to implement their vision. Founders can change goals over time, hire CEO / CTO / CFO or do all the work by themselves, but all of them possess certain qualities.
You certainly heard about the Founding Fathers of the United States. Not all of them served a term as a President of the United States and not everyone of them fought in the War of Independence. However, it was them who established the core values of the United States and defined the overall organizational framework of the young country. They were founders of the United States.
Difference between founder and CEO
The difference between founder and CEO lies in the definition of CEO. Chief Execution Officer means exactly what it is – this is the person who is responsible for carrying out and executing the vision of the founder (or slightly different entity like some kind of board of stakeholders). The CEO is usually deeper into the operational details of the organization and business as usual, but they are fully relying on the vision set by the founders.
Founder qualities
Founders possess a multitude of qualities and it is very rare when a founder has all the qualities equally developed. However, it does not stop founders from dreaming and achieving big goals, even with the help of others (delegation is the key). From talking and mentoring more than 15 founders of various small and medium sized online business, I have identified the following most important qualities
- Visionary thinking – the founder knows what the organization has to achieve. The goal can look impossible, unreal, too hard, but this is how great things are achieved. Founders think big and look at the world one step ahead.
- Ability to risk – the greater the vision, the more risks and potential problems stand in the way. Founders are able to manage risks and navigate their organization through an uneasy sea of entrepreneurship and constantly changing world.
- Decision making – founders do not hesitate to make decisions. Depending on the situation, the founder can make a fully informed decision after proper market research or the decision can be made in a second without any research when the company is bleeding right here (related to risk management). Founders always understand the price of hesitation, and sometimes the price is too high to hesitate.
- Dedication and readiness to sacrifice – founders, especially in the beginning when the budgets are scarce and the team is forming, dedicate their full focus to make the vision possible. It does not mean that they work 15 hours a day, but it certainly occupies most of their thoughts. Successful founders think in the long run, so they do not spend all the energy in the beginning. Business is a marathon, not a sprint. Founder understands the true value of both efficiency and effectiveness.
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Summary
It takes certain effort to be a founder. Founders carry certain risks, but at the same time they get all the glory and amazing levels of satisfaction after their vision is realized. Or they learn from failure and try something else.
All founder qualities mentioned above are applicable to anyone, they certainly make lives better in the short and long run. This is the reason for founder mode becoming more and more popular among entrepreneurs and people who want to make their lives better.
Remember – everybody is at least a founder of their life, the most important thing in the world. Master the founder mode and reach greatness the way you vision it!