When it comes to leadership and leadership characteristics, it’s usually discussed in terms of existing and mature organizations. Almost a quarter of the new companies do not survive their three-year anniversary. It seems that there is a lack of focus on the manager's characteristics and further on what leader characteristics can be identified as success factors of a new company. The purpose of my survey is to identify the theory of successful leadership properties in new firms and to investigate possible similarities and differences with real cases of establishments. I have conducted a literature search and compiled the found theory of leadership properties in general as well as leadership properties in new firms. Data collection has been conducted through a qualitative method by interviewing three different leaders, all of whom have experience in initiating and establishing a new company. Data from the interviews have been used to analyse similarities and differences with the theory. My findings of similarities between the empirical material and the theory is following: Establishing a strategy based on an idea and vision, obtaining the right resources, ensuring the company's well-being by managing risks and growth, communicating externally and internally, and operationally focusing on goals and follow-up. My finding of differences between the empirical material and the theory is following: The leadership properties of sales activities as well as the prerequisites for the leader's network influencing the succeed of establishing the new company.