Techstars Reveals What Drives Elite Start-up Performance

Photo by ben o'bro

If you’re looking to increase your performance, in your start-up or in your personal life, the key is clarifying the values that drive your purpose. Last week Techstars Chicago Program Manager Brad Schnitzer and Pete Wilkins—author of Purpose First Entrepreneur, Managing Director of HPA, and a Techstars Chicago mentor—hosted a webinar for the Techstars Chicago community where this message was a center point of the conversation.

Over the course of the event, the two explored the connection between performance and purpose, approaching entrepreneurship as a Start-up Athlete, and understanding the actions of the Ukrainian president, Volodymyr Zelensky, through the lens of Purpose First leadership.

Schnitzer opened the conversation by pointing to Wilkins’s obsession with data, measurement, and quantification of the variables that he believes impact performance. Wilkins joked that while his methods might seem a bit fanatical, he also believes they’re what lend credibility to the conclusions about performance he draws in the book.

Purpose, according to Wilkins, is a motivating factor in every aspect and facet of your life, which makes it the most important element in elevating performance. He explained, “Regardless if you’re an entrepreneur or a social leader or a father that’s raising a family of kids and that’s your primary role, purpose is going to drive outperformance.”

As one example of how purpose drives performance, even outside of a start-up environment, Wilkins pointed to the leadership and decision-making of Ukrainian President Zelensky. In spite of the fact that Zelensky’s skillset as a performer might not naturally lend itself to success in the current crisis, he has risen to the challenge. That’s because, according to Wilkins, “the purpose of freedom, the purpose of democracy, the purpose of liberty, drive him to outperform.”

That, according to Wilkins, is a portrait for how entrepreneurs can handle the inevitable challenges they’ll encounter in their businesses and their lives. Zelensky’s focus demonstrates the importance of developing a mindset that allows you to shift your attention away from uncontrollable circumstances so that you can turn your attention and energy to the things that are within your control. Wilkins told participants that Zelensky also provides a model for the way purpose infuses individuals with the resilience and motivation necessary to elevate performance.

Wilkins stressed the importance of developing a clear understanding of the true value of your company, which lies in how it makes a positive difference in the world and the kind of meaningful impact it creates for their users, for their teams, and for their communities.

That clarity helps entrepreneurs lead their teams effectively by rallying them around this positive change. Wilkins said this framework allows founders to develop meaningful performance metrics that motivate team members to succeed because “it changes the mindset [away from] a sterile view of a user [to one where] those personas come to life” for internal and external stakeholders.

Schnitzer asked Wilkins to share any advice for seasoned entrepreneurs who might just be coming to the idea of structuring their business around purpose, asking, “How do they connect back to their purpose if they haven’t built that from the start?”

Wilkins recommended establishing a framework for your company’s core principles and soliciting input from your leadership team. Once that framework is established, leaders can craft a vision statement that can be clearly communicated and begin a thoughtful rollout that gives the team an opportunity for buy-in. Last, Wilkins encouraged founders to invest in developing KPIs or OKRs that align with those values so that every member of the team can understand how their position contributes to the organization’s overall mission.

At the end of the day, Wilkins told participants that the most important element of building a Purpose First business is consistency. He explained, “Consistency and persistence [are] a lot better than perfect… Being committed is essential.”