One of the biggest mistakes startup founders make is not having a “whole business vision”, according to Pollenizer chief operating officer Clare Hallam.
In a blog post on Medium, Hallam says while most startup founders “focus on product”, the “good founders” are the ones who practice the lean startup method of building, measuring and learning.
And she believes “great founders” operate at an even higher level; they have a “big audacious vision for the product they intend to build”, says Hallam.
Hallam, who has worked with a number of startups over the past nine years at the soon-to-be-closed incubator, says more founders need to have a “whole business vision” and look beyond just developing one product.
“When founders reach a point where they need to engage the help of others to evolve their vision,” she says.
“This is the start [of] whole business vision. Product vision alone is no longer enough.
“Founders now need [to] pay attention to empathetic leadership, smart governance and commercial sensibility.”
In line with this, Hallam says startup leaders need to “care deeply about the people involved”, have a good understanding of the numbers and accounts of their business, and “get smart about governing” it.
These elements all play an important role in a founder’s vision.
“Prepare, get curious and allow yourself to be vulnerable,” Hallam says.
“Ask for help, but most of all, pay regular attention to your business as a whole.”