The 5 Things You Need To Create A Highly Successful Startup

The 5 Things You Need To Create A Highly Successful Startup

P3 CMO & Cofounder, David Wagoner, sat down recently with Paul Moss of Authority Magazine to discuss P3's founding story, and the 5 things you need to create a highly successful startup. By the time they stood up again, they’d had an inspirational conversation about the power of perseverance that you truly won’t want to miss. What follows is an excerpt from that interview, and a link to the full text.

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 AM: Here is the main question of our interview. Many startups are not successful, and some are very successful. From your experience or perspective, what are the main factors that distinguish successful startups from unsuccessful ones? What are your “Five Things You Need To Create A Highly Successful Startup”? If you can, please share a story or an example for each.


David: The first thing you need is to understand your individual limitations as a human and as a leader. The reason it’s so important to be self-aware is that if you don’t know what you’re not good at, you can’t fill those gaps. It’s incredibly rare to find a great technologist who also can design, who also can sell, who also can run a business operationally, who also can hire people. In fact, I’ve never met that person.

But if you’re running a tech startup, these are all competencies that you’re going to need to run a successful organization. And so as you’re growing your business, understanding where your deficiencies lie versus where your own natural expertise lies is absolutely essential.

One of the key reasons that Aanarav and I have been able to build sustained success over the years is that we’re good at different things, and we trust one another to deliver in areas where one of us might personally fall short. There’s no shame in not being an expert in all aspects of your field–after all, what is a field if not an accumulation of collaborative knowledge? But to succeed, you have to be insightful enough to build a team that turns your relative weaknesses into organizational strengths, and that starts with honest self-interrogation.

That brings me to the second thing you need to create a successful startup... Read the full story over at Authority Magazine


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