Part 2: 4 More Strategies That Unicorn Founders Embrace
Going From Early Stage To Unicorn
Last week, I shared Part 1: 4 Strategies Unicorn Founders Embrace. This week – surprise — we’re sharing Part 2 with more unicorn founder strategies.
These posts were inspired by an early stage founder with big goals who asked great questions:
Now that I’ve raised money and have passionate customers – what’s next? How do I build a unicorn, think like a unicorn, execute like a unicorn?
Here are 4 (more) common themes and strategies from unicorn founders to guide you and inspire you along your journey! 🦄
4 More Strategies That Unicorn Founders Embrace
1. Define your mission, pitch, and values.
Spend time crafting clear, concise:
Mission statement
One-line pitch
Core values
Then talk about those things ALL. THE. TIME.
Why? These cornerstone elements will help:
Attract candidates
Hire faster
Bring in new deals
Close deals
Drive performance
Build a unique and powerful culture that people want to be a part of
Infinite Giving does an amazing job:
Mission statement: leverage modern financial technology to grow the world’s giving
One-line pitch: automated investment platform for non-profits
Core values: Be kind and do excellent work.
Because they are simple, easy to remember, and communicated weekly by their awesome CEO, Karen Houghton, I can repeat them to anyone (aka future customers or hires) and I understand exactly what they do. This clarity helps throughout the sales funnel, hiring funnel, and company growth!
David Cummings has long been a proponent of culture and core values with some great, specific blog posts if you want more.
2. Move fast.
One trend I’ve seen from unicorn founders – they have a bias for action and make decisions quickly. Speed is a key advantage especially against incumbents or other up-and-comers in the market.
3 Keys To Moving Fast:
Be responsive when asked for a decision.
Empower others to make decisions. (I mention my favorite delegation framework here.)
Have clear goals and core values (see Strategy #1) that serve as a decision-making guide.
In other words, avoid a CEO bottleneck.
A bonus of this approach is more time and energy for you to spend on hard-to-undo, strategic decisions.
3. Accelerate your rate of learning.
Kyle Porter, CEO of Salesloft, shared this advice at Salesloft in the Studio (43:00) and David Cummings’ also recounted it.
The concept is simple. Learn aggressively so you can grow faster than your startup is growing. Set up systems like peer groups, executive coaching, and daily business reading to turbo charge your personal growth. More suggestions here.
4. Be confident.
Here’s the thing…
Every founder, no matter how successful, has something they’re insecure about. Unicorn founders are not exempt from imposter syndrome.
I’ve talked to wildly successful founders, who exude public confidence, and privately tell me things like:
I got lucky.
I don’t know what I’m doing.
I have good people around me.
When we hit <next milestone>, the wheels will fall off.
I’m terrified of <normal CEO thing like public speaking>.
This <other unicorn founder> is so much better than me at _____.
Why am I sharing this?
If you are feeling worried or insecure, that doesn’t mean you can’t do it.
It means you’re a perfectly normal unicorn founder!
Go to your place of resilience and strength:
Rephrase “I don’t know” into “I can’t wait to learn.”
Do it anyway.
Pray.
Fake it ‘til you make it.
Reflect on your past successes.
Think about your vision and your why.
Call your #1 superfan for a pep talk.
And then keep going.
Amazing things are ahead! 🚀🦄
What other strategies do unicorn founders embrace? What have you seen or experienced with unicorn founders that helps them build?