In baseball, a “five-tool player” can do it all: 1) Hit for average, 2) hit for power, 3) field, 4) throw and 5) run with speed, all with superior skill. A potential five-tool player is as rare among baseball prospects as a unicorn among early-stage startups, and a baseball scout can make his career by finding a young “five tool prospect” the same way a venture capitalist can become famous for backing a future billion-dollar entrepreneur.
Of course, baseball is a team game, and one five-tool player will never defeat a nine-man opposing roster by himself. But the value of the do-it-all player is in his above-average contribution, his ability to make the rest of the team better by adding disproportionate value to the whole enterprise.
Is there a corollary in the startup world - a “five-tool” founder who, by virtue of her unique, off-scale talents, embodies the “do-it-all” capabilities of the complete entrepreneur? If so, what er the five tools, in the startup context? This is a brief thought exercise to suggest what those five “tools” might be.
(You may have already noted that the “five tools” in baseball do not include a specific reference to pitching. Pitching is highly specialized. The “five tools” relate to offensive and general defensive skills; the “five-tool” player will still need to have great pitchers on his team to do their specialized and necessary jobs, for the team to win. Similarly, my “five tools” construct for startup founders does not speak directly to an essential component of startup success, namely, the technology development that underpins the heart of any successful startup. Just as pitching is necessary in baseball but is left out of the “five tool” model, so I have left technology development skills out of my model even though it’s obviously critical to the overall success of the startup “team.”)
The Five Tools
Here’s my attempt to categorize the five tools of the “do-it-all” startup founder:
1. Storytelling
As my friend Jeff Bussgang of Flybridge Capital says, all startups start off in the Jungle. In order to get people to follow her into the jungle, attract the funding resources needed to survive, and the market traction to get out of the Jungle and onto the Dirt Road, the founder will need to be able to tell a clear and compelling story about the startup’s vision, mission and plan. The graveyard of failed startups is littered with thwarted ventures that were led by founders with Presentation Dysfunction.
2. Recruiting
The great founders are evangelists who can attract others to join the startup’s journey and fill key roles. Sure, storytelling plays a part here too, just as there can be some overlap between hitting for power and hitting for average. But recruiting goes beyond telling a good story, and requires the ability to create new networks and leverage existing ones, to connect to the right people even before hitting them with the recruiting pitch (yes, I’m egregiously incorporating baseball puns.)
3. Leading
The team, as it is recruited and grows, must be managed well. Motivational storytelling won’t suffice; strong interpersonal and managerial skills utilize different muscles and are required to keep the team marching forward on its perilous journey.
4. Navigating
A dynamic, convincing founder without situation awareness and strategic thinking can and will recruit a merry band of followers and lead them straight off a cliff. Complete founders have the ability to at the same time motivate, lead and break down barriers, and in parallel monitor their changing environment and adapt accordingly. As W. Brian Arthur wrote, “Entrepreneurship in advanced technology, is not merely a matter of decision-making; it is a matter of imposing cognitive order on situations that are repeatedly ill-defined.” Most successful startups undergo at least one major pivot in their “Jungle” ( pre-Product/Market Fit) stage, and the ideal founder finds the path to pivot and the Dirt Road, without much coaching or external guidance.
5. Hustle
The only pure overlap with the “five tool” baseball skills is speed. Just as complete ballplayers must exhibit blazing speed, so great founders must do all of the above, extremely fast. Given the limited resources most startups have, at least at the outset, the clock is ticking and time pressure mounts as the available resources dwindle. Founders that do 1-4 above well, but too slow, will run out of runway, like a batter who crushes the ball into the outfield corner but is cut down sliding into home.
Food for thought - I am sure I left out some important skills; tweet your comments and critiques to me at @beninjlm.