If you want to embark on an entrepreneurial journey that is undoubtedly challenging; It is wise to look inside and be more aware of your personality, so that you can channel your strengths and overcome your weaknesses.
It sparked the researchers’ interest and examined the personality traits of entrepreneurs using the Big Five approach – considered the most scientific and up-to-date. Research has also found that genetic factors are responsible for some of the differences in who becomes an entrepreneur. People with different types of certain genes have different chances of developing certain personality traits. Genetically influenced personality traits in turn affect a person’s likelihood of becoming an entrepreneur.
Let’s have a look at some of these features and effects
First, to start a new business, you have to be very open minded. Openness is a measure of one’s creativity, imagination, intellectual curiosity, and preference for novelty. Ask inspirational author and speaker Simon Sinek, who believes that business owners are, at their core, problem solvers. If you tend to be overly cautious and prefer routine and stability, you likely lack the risk appetite needed to deal with the highly turbulent environment that startups face.
While it’s great to have unique ideas, entrepreneurship requires action, not just a dream. A high degree of conscientiousness is important for long-term success. Successful founders must have a mindset of what they can do and be action-oriented. A lack of self-efficacy or the ability to manage your to-do list can lead to projects being abandoned as the excitement fades or you get bogged down in chaos. Whatever you want to call it – perseverance or willpower – successful entrepreneurs keep moving forward in the face of challenges and failure.
Entrepreneurs are very diverse and so, personal research on them has mixed views on compatibility. Most research indicates that entrepreneurs in general are low on fit while other research indicates that fit has a positive relationship with entrepreneurship. Being innovative means that you are taking a step that no one else would. For this reason, many people advise you not to do what you wish to achieve. While it will be important to stick to your beliefs and ideas, it will also be important to take people on a collaborative journey.
You need to be persuasive, and have a passionate seller at heart to be able to convince and sell your big idea to people on a regular basis – without any outside payment. Having a great deal of extroversion will make it easier for you to market your concepts to large audiences and build relationships with your customers, partners, and other stakeholders.
Needless to say, there is a high degree of uncertainty which, for the most anxious, may naturally lead to high levels of stress. Decreased neuroticism or emotional stability will be very helpful in overcoming stressful situations and declines that the company may bring.
To be an entrepreneur – you need the optimism gene. A combination of extraversion and low neuroticism. Are you someone who is confident in hope and believes that bad times will pass, and that good things will happen? Do you see opportunity in every difficulty?
Finally, the most important consideration before embarking on starting a business is your passion. If you are not passionate about your idea and vision, how will you sell it to your investor or clients? And passion isn’t just a trait – it’s the drive behind multiple traits such as creativity, flexibility and salesmanship.
(The author is the founder and CEO of GENLEAP)