{"id":50256,"date":"2019-12-16T11:04:50","date_gmt":"2019-12-16T11:04:50","guid":{"rendered":"https:\/\/dtworks.wpengine.com\/?p=50256"},"modified":"2021-03-31T23:25:46","modified_gmt":"2021-04-01T07:25:46","slug":"entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit","status":"publish","type":"post","link":"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/","title":{"rendered":"Entrepreneur 101s \u2013 Reverse Engineering the Startup \u2013 Focusing on Founder Fit"},"content":{"rendered":"<p>Do you have what it takes to be a founder? What do successful startup founders have in common when it comes to creating a thriving business enterprise? In this edition of Entrepreneur 101s, I want to take a closer look at the specific personality traits shared by passionate entrepreneurs who have successfully incubated and grown their business ideas.<\/p>\n<p>Now, I could list a bunch of keywords and adjectives describing personality traits of successful entrepreneurs. These would include things like adaptability, persistence, vision, and a can-do attitude. Instead of explaining basic entrepreneurial qualities, I thought it would be fun to highlight a company that flips the script on the startup by first developing business ideas, and then recruiting founders to lead said businesses.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" class=\"aligncenter wp-image-50796 size-full\" src=\"https:\/\/dwstg2022.wpengine.com\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1.png\" alt=\"\" width=\"1024\" height=\"1024\" srcset=\"https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1.png 1024w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1-300x300.png 300w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1-150x150.png 150w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1-768x768.png 768w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1-370x370.png 370w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1-90x90.png 90w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Launch-Factory_Logo_White-over-20232a-1024x1024-1-760x760.png 760w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2 style=\"padding-left: 40px;\"><strong>Focusing on Founder Fit \u2013 Launch Factory<\/strong><\/h2>\n<p>I had the pleasure of chatting with <a href=\"https:\/\/www.linkedin.com\/in\/brad-chisum-93b9002\/\">Brad Chisum<\/a>, CEO and Co-Founder of <a href=\"https:\/\/www.launchfactory.com\/\">Launch Factory<\/a>, venture capital, and private equity firm reverse-engineering the startup. Think about this &#8211; a <a href=\"https:\/\/www.techworld.com\/startups\/what-makes-good-startup-founder-3682260\/\">report<\/a> from London-based venture&nbsp;capital&nbsp;firm&nbsp;<a href=\"http:\/\/concentricteam.com\/\">Concentric<\/a>&nbsp;found that <strong>62 percent of startups fail due to conflict amongst the founding team<\/strong>. Chisum believes that by mitigating startup risk factors, the Launch Factory model offers a solution to startup failure.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" class=\"aligncenter wp-image-50790 size-full\" src=\"https:\/\/dwstg2022.wpengine.com\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1.png\" alt=\"\" width=\"1000\" height=\"1000\" srcset=\"https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1.png 1000w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1-300x300.png 300w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1-150x150.png 150w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1-768x768.png 768w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1-370x370.png 370w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1-90x90.png 90w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/Brad.C-1000-1-760x760.png 760w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<h2 style=\"padding-left: 40px;\"><strong>Risk vs. Reward<\/strong><\/h2>\n<p>Launch Factory helps its startups by strategically removing barriers to market such as business ideation, market need, and lack of startup capital. The company is built on recruiting founders that will not only shape company culture but help develop a sustainable mission and vision for future growth.<\/p>\n<p>Playing to his engineering strengths, Chisum formed Launch Factory as a \u201cstartup studio\u201d where developed business concepts are connected to passionate and talented entrepreneurs. The founder recruitment process is intense. Each potential founder must go through a series of interviews as well as customized behavior and personality tests. \u201cIt\u2019s not so much about the resume,\u201d said Chisum. \u201cPlacing founders in the right environment with the right personalities is so important in achieving mutual success.\u201d<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" class=\"aligncenter wp-image-50259\" src=\"https:\/\/dwstg2022.wpengine.com\/wp-content\/uploads\/2019\/12\/DSC00474-1024x680.jpg\" alt=\"\" width=\"700\" height=\"465\"><\/p>\n<h2 style=\"padding-left: 40px;\"><strong>Think Founder First<\/strong><\/h2>\n<p>The conversation shifted to the qualities and capabilities that Launch Factory looks for in its founders. \u201cDon\u2019t tell us about what you have done, tell us what you are going to do and show us how you would do it,\u201d explained Chisum. \u201cDon\u2019t pretend that the first version of the idea is the best. Experienced founders make evidence-based decisions and are willing to pivot.\u201d<\/p>\n<p>An entrepreneur usually develops and incubates his or her own business idea. When asked how he expects potential founders to bring passion and commitment to a business idea that is not their own, Chisum put it like this, \u201cpassion will come the more time a founder spends with an idea. If they can play with it and nurture it, they will change it and put their fingerprints on it.\u201d<\/p>\n<p>He describes how this same philosophy can be explained by thinking about how a house is built. \u201cLaunch Factory lays the foundation and provides the necessary materials for the job. Once the house is built, we leave it up to our founders to paint the walls.\u201d<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" class=\"aligncenter wp-image-50791 size-full\" src=\"https:\/\/dwstg2022.wpengine.com\/wp-content\/uploads\/2019\/12\/DSC00370-1-1024x683-1.jpg\" alt=\"\" width=\"1024\" height=\"683\" srcset=\"https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/DSC00370-1-1024x683-1.jpg 1024w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/DSC00370-1-1024x683-1-300x200.jpg 300w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/DSC00370-1-1024x683-1-768x512.jpg 768w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/DSC00370-1-1024x683-1-370x247.jpg 370w, https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/DSC00370-1-1024x683-1-760x507.jpg 760w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2 style=\"padding-left: 40px;\"><strong>Get Paid for Referrals \u2013 Scout Program<\/strong><\/h2>\n<p>Know any fabulous founders ready to take on their next challenge? The Launch Factory Scout Program is offering incentives for referring qualified candidates, including 50k shares of stock in a company! More information and details can be found <a href=\"https:\/\/www.launchfactory.com\/recruitment\/scout-information\/\">here<\/a>.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" class=\"aligncenter wp-image-29206\" src=\"https:\/\/dwstg2022.wpengine.com\/wp-content\/uploads\/2017\/05\/DW_main-logo-blue_black-1-1024x218.png\" alt=\"\" width=\"263\" height=\"56\"><\/p>\n<p style=\"text-align: center;\">A Premium Coworking Community built by entrepreneurs for entrepreneurs who want to reach higher<\/p>\n<p style=\"text-align: center;\">Connect with Us on Social Media!<\/p>\n<p style=\"text-align: center;\">dwstg2022.wpengine.com<br \/>\ninfo@downtownworks.com<br \/>\n619.535.9675<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you have what it takes to be a founder? What&hellip;<\/p>\n","protected":false},"author":5,"featured_media":50795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[31,42],"tags":[63,30,32,64],"table_tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reverse Engineering the Startup<\/title>\n<meta name=\"description\" content=\"Entrepreneur 101s \u2013 Reverse Engineering the Startup \u2013 Focusing on Founder Fit Read informative coworking and shared office blog, as well as why we&#039;re the best coworking space! Downtown Works\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reverse Engineering the Startup\" \/>\n<meta property=\"og:description\" content=\"Entrepreneur 101s \u2013 Reverse Engineering the Startup \u2013 Focusing on Founder Fit Read informative coworking and shared office blog, as well as why we&#039;re the best coworking space! Downtown Works\" \/>\n<meta property=\"og:url\" content=\"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/\" \/>\n<meta property=\"og:site_name\" content=\"Downtown Works\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/downtownworks\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-16T11:04:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-01T07:25:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/downtownworks.presstigers.dev\/wp-content\/uploads\/2019\/12\/DSC00526-2-1024x685.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"685\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dan Krefft\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@downtownworks\" \/>\n<meta name=\"twitter:site\" content=\"@downtownworks\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dan Krefft\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/\"},\"author\":{\"name\":\"Dan Krefft\",\"@id\":\"https:\/\/downtownworks.presstigers.dev\/#\/schema\/person\/0fe9836388bcb29e5c45250c0318d0bb\"},\"headline\":\"Entrepreneur 101s \u2013 Reverse Engineering the Startup \u2013 Focusing on Founder Fit\",\"datePublished\":\"2019-12-16T11:04:50+00:00\",\"dateModified\":\"2021-04-01T07:25:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/\"},\"wordCount\":589,\"publisher\":{\"@id\":\"https:\/\/downtownworks.presstigers.dev\/#organization\"},\"keywords\":[\"collaboration\",\"coworking\",\"entrepreneur\",\"founder\"],\"articleSection\":[\"Business\",\"Development\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/\",\"url\":\"https:\/\/downtownworks.presstigers.dev\/entrepreneur-101s-reverse-engineering-the-startup-focusing-on-founder-fit\/\",\"name\":\"Reverse Engineering the Startup\",\"isPartOf\":{\"@id\":\"https:\/\/downtownworks.presstigers.dev\/#website\"},\"datePublished\":\"2019-12-16T11:04:50+00:00\",\"dateModified\":\"2021-04-01T07:25:46+00:00\",\"description\":\"Entrepreneur 101s \u2013 Reverse Engineering the Startup \u2013 Focusing on Founder Fit Read informative coworking and shared office blog, as well as why we're the best coworking space! 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