6 Key Qualities Of The Startup Personality
Becoming a successful startup entrepreneur and turning an idea into a viable business requires a few nonnegotiable attributes. You need to have a strong idea in the first place. You need to achieve some measure of luck. And you need to succeed in securing adequate financing for your venture.
But an entrepreneur might have a great idea, a large amount of capital, and a weighty dose of luck and still fail in his enterprise because he lacks something far less quantifiable: the startup personality. This personality eludes an easy definition and certainly depends upon your specific product, goals, and industry of operation. That being said, most successful startup entrepreneurs share certain qualities that can help bring about their objectives. Here are a few such qualities:
-Charisma. No matter how smart you are, your startup venture needs to be capable of marketing itself to potential investors, employees, and customers. In this sense you are not simply a business person – you are, more appropriately, a salesman. Carrying charisma and confidence with you is essential when trying to raise capital in the early going.
-Creativity. A “numbers man” who knows his way around a spreadsheet can be incredibly successful in the corporate world. But, when the startup culture comes into play, a knowledge of finances does not make up for a lack of creativity. In order for a new business to be viable, after all, it needs to match a consumer need or want not fulfilled by the current market. Taking advantage of such gaps requires a certain dose of creativity.
-Ability to take advice. No matter how prepared you are for the challenge that lays ahead, a startup entrepreneur is ultimately a new arrival in whatever field they enter. This naturally means that there are countless people out there who know more than you do – and who are capable of giving advice. Whether it comes from a grizzled veteran of the industry or a Cavalry Portfolio Services representative who is checking over your budget, listening to the advice of others is crucial for those who want to someday get ahead.
-Risk-opportune. A startup entrepreneur probably won’t get anywhere by being risk adverse. On the other hand, however, they are probably more likely to fail than succeed if they pursue a more reckless risk-taking strategy. The person who can find that middle ground – with perhaps a slight lean towards the risk-prone – is better poised for future success.
-Passionate. This may sound obvious, but the startup world powers itself in large part on the passion of its entrepreneurs. To succeed against all odds requires a diligent work ethnic, an unmatched drive, and a staunch desire to reach a set goal. All of these requirements can be traced back to the passion of the individual.
-Patient. Many of today’s most successful companies toiled in obscurity for years – if not decades – before achieving prominence and fortune. Unless you seek to sell your business and make a quick profit, it’s essential to keep this in mind and practice this all-important virtue.
These are six of the most necessary qualities found in startup entrepreneurs. What do you think? Do you agree with this list? What attributes would you remove or add?