1 Trait All Successful First-Time Founders Have in Common

Matt Stefan
1 min readAug 31, 2022

You need this trait to be successful as a startup founder.

When we were in the Next Big Thing Program, we worked side-by-side with 6 teams of first-time founders. For more than eight months, we spent 50+ hrs a week in the office together building.

From that group, one went on to sell their company for nearly $400 million and another just raised an $18 million Series A.

All successful first-time founders have this trait in common: steadfastness.

The dictionary definition of steadfastness is “very devoted or loyal to a person, belief, or cause : not changing.”

Unwavering devotion to the cause, or their ‘mission’ to put it differently, is what defined their success.

In the face of rejection — devotion.

In the face of opposition — devotion.

In the face of betrayal — devotion.

No matter what they come up against, they’re steadfast in pursuit of their mission.

That’s not to say that they don’t adapt their business model, product, positioning, or market.

They all do.

Some change is necessary to ensure the core mission is unchanged.

So, if you’re a first-time founder wondering if you’re ever going to make it, consider how devoted you are to the cause.

Do you have a clear mission that you believe in wholeheartedly?

Do you know what you’re fighting for?

If yes, then remain steadfast and you will be successful, it might just take longer than you expected.

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Matt Stefan

Creator of Chat Capital, the most approachable way to explore trends in finance and tech.