In this talk, Jessica Livingstone highlights nine main differences that the “Unicorn” founders need to fulfill. According to her, these founders need to:
1. Be Lucky
In addition to numerous things that they need, unicorns are believed to be lucky. To ensure luck, one of the critical aspects is proper timing. To be a successful founder, it is important to have the right idea at the right time
2. Have the Right Motives
The most noticeable difference amongst founders of highly and moderately successful startups is their motives. Notably, the founders of highly successful startups are not in it to seem cool or get rich but rather, they have a fanatic interest in the performance of the company.
3. Hit a Big Need
However obvious this seems, every huge startup requires a huge market. It is advisable to make something which many people will pay for or one which attracts a huge amount of cash. In this section, luck comes in handy since market sizes are hard to predict.
4. Do Something Basic
Most of the biggest startups are doing basic things. An example is Google where you search for information and Facebook where you find and interact with friends.
5. Have the Will to Work on Dubious Idea
An idea might seem less promising at the beginning, but with time it can become a huge success.
6. Do not be Afraid of Big Ideas
To become successful, you need to be ambitious. You can start a site for college students and later expand it to serve the entire world.
7. Be Self-Driven and Resilient
Do not let anything hinder you or stand in the way of what you want to achieve.
8. Be Focused
Despite being self-Driven, the focus is also a key factor that will keep you working on your goal.
9. Have the Ability to Evolve into a Manager
In the initial stages, the goal is a startup is a product but as it grows you need to become a manager to keep the startup running.