Delegate tasks and empower your team.
This all comes back to self-awareness. I’m a channel marketing expert; I’m not a software developer who can build a SaaS platform. Figure out what skills you need and find the people who can help.
Once you build a team, don’t be afraid to let go of certain responsibilities. You’ll never be able to focus on everything. Entrusting your associates with important tasks serves the dual purpose of:
- lightening your load as a first-time founder; and
- empowering colleagues with the power to affect business outcomes.
Different perspectives are important. Don’t be a control freak; let the smart, hard-working people you hire contribute to your vision.
Partner with the right investors for you.
Investors aren’t ATMs. They’re also not your bosses. Finding the right investor is about landing the right partner and the right fit.
When I partnered with York IE for Spark Your Channel, I was drawn to the personal connections I felt with their team. I wanted my investors to be friends and mentors to guide me through the journey of scaling a SaaS company.
My advice to first-time founders: Don’t go for the biggest brand name or the biggest check. An investor’s guidance is worth more than the dollar figure they’re offering.
Find a niche and stick to it.
When I founded the consulting practice at Channel Maven, I’d take on any client that came my way. I even partnered with a cereal company in the early stages. My expertise was in channel marketing for software companies, but we needed business.
I later realized that I could generate much higher profits with enterprise tech clients — and our services were much more scalable in that market. Take some time to identify your product market fit and do your best to maintain your vision. You can’t be a solution for everyone, so focus on the highest-value clients.
Keep going!
Early in my Spark Your Channel journey, someone gave me a bracelet that read “Keep F—ing Going.”
I could spend hours writing up all my advice for first-time founders. The most important quality — and the deciding factor on if you’ll make it — is your ability to stick with your vision.
Companies go as their founders do. If it’s your first-time running a startup, you’ll need to be able to power through failures. Luckily, you can rely on your outstanding team and insightful investors while following the plan you’ve developed for success.
