Confidence:

it is a powerful thing. When you believe in your ideas and yourself, you inspire others. Self-assurance allows you to persevere in your vision even when others are doubtful. A confident leader can navigate through the uncertainty of the ever-changing world of entrepreneurship. A leader who constantly asks everyone else to make a decision on the other hand can create chaos.

Humility: It's all about finding the right balance between humility and confidence. Is humility a sign of weakness? Nick says no. He dispels the myth that confidence and humbleness cannot coexist. Humility keeps us from falling into the "I know it all" trap. It allows us to learn, grow, take on new perspectives, question assumptions, and be open to honest feedback. It fosters an environment in which founders can adapt and evolve, leading to success over the long term. Some investors favor “paranoid” founders. Those who prepare for all cases and are never just cruising. Perhaps being paranoid is a way to say humble.

Tenacity: That unwavering resolve which keeps us going despite countless obstacles. Founders underestimate the time and challenges of starting a business. Niklas stresses that perseverance in the face of adversity will lead to ultimate success. Lets be honest, this is an absolute must for startup founders whose job is a rollercoaster with more downs than ups.

Motivation: Money can be motivating, but real founders are motivated by more than dollars. The burning desire to solve problems is what drives them non-stop and around the clock. It is very important for the founders to be truthful to themselves why they are doing this. Financial gains is a challenging goal because more often than not, startups fail. And because without exception, founders earn less than they would at a corporation - unless of course they hit the startup jackpot aka. the exit.

Dealing with conflict: Conflicts are an inevitable part of any startup, whether they're between co-founders, board members, investors, team members, customers, etc. It is important to be able to manage and resolve conflicts for a company's culture and relationships to remain healthy. Something that is very hard when your entire lives evolve around the company you’ve set up and are running.