Great entrepreneurs come from all over the world and all walks of life. There is no single personality profile, but there are certain characteristics and skills that are particularly important for entrepreneurs to have when starting and leading a venture, and there are certain traits investors like to see in entrepreneurs.
Here are 10 traits investors like to see in entrepreneurs…
1.) Vision and Precision
Entrepreneurs with a clear vision can identify opportunities that others might overlook. An ability to outline precise strategic plans ensures that each move they make is intentional and aligns with their long-term goals. This level of precision in planning not only demonstrates foresight but also builds investor confidence in their capability to bring their ideas to fruition.
2.) Arrogance
Entrepreneurs need to believe their ideas can change the world. While arrogance can alienate people, it can fuel the confidence needed to persevere when obstacles come and/or no one else believes in their business.
Why do investors love it? Confidence — bordering on arrogance — convinces others to believe in the vision. This attracts customers, partners and investors and even great employees.
3.) Risk-taking
Pushing ahead and staying steadfast, without overanalyzing risks can lead to breakthroughs. Entrepreneurs who take decisive action often uncover opportunities that are overlooked or missed in the market.
Why investors love it: Risk-takers are more likely to achieve extraordinary outcomes. Balanced with a willingness to be flexible and adapt, this trait is invaluable.
4.) Decisive
An entrepreneur has to make difficult decisions and be confident in them. As a leader, they’re responsible for guiding the trajectory of their business, from funding and strategy, to resource allocation, product development, marketing and more.
Being decisive doesn’t always mean being correct however. Entrepreneurs need the confidence to make challenging decisions and see them through, but they need to be able to adapt as well. If the outcome isn’t what is expected, they have to be able to correct the course.
5.) Self-Awareness
A great entrepreneur knows their strengths and weaknesses. They build well-rounded teams with people that compliment their traits. Most of the time it’s the entrepreneurial team, rather than an individual, that drives a business venture toward success. It is critical to surround yourself with teammates who have complementary talents and can contribute to your overall business goals in ways that you cannot.
6.) Hyperactivity
Hyperactivity reflects a relentless drive to experiment and find what works, which is important in the iterative world of startups. A good entrepreneur can switch between ideas and tasks, pursuing opportunities at lightning speed. While some ventures may fail, a high energy gives investors the confidence that at least one will stick.
7.) Low Empathy
Someone with low empathy can prioritize results over distractions, making them more effective leaders. Entrepreneurs usually lack time to dwell on others’ emotions. Solely focusing on achieving their goals can come across as cold, but it enables them to make tough decisions without hesitation.
8.) Curiosity
Successful entrepreneurs have a personality trait that sets them apart from other leaders: a sense of curiosity. An entrepreneur’s ability to remain curious helps them to continuously seek new opportunities. Entrepreneurs ask challenging questions and explore different avenues, rather than just relying on what they know. They get opinions, research and learn from others’ mistakes.
9.) Selective Forgetfulness
Entrepreneurs have an uncanny ability to “forget” past failures, enabling them to press forward with optimism. This kind of resilience keeps them motivated and inspires confidence. Investors love it because “selective amnesia” allows founders to focus on the future and learn from failure without dwelling on it.
10.) Charming
Entrepreneurs learn how to master the art of persuasion. This can be used in convincing an investor, inspiring a team or closing a partnership. Charm is a strategic tool many successful entrepreneurs have and use, and a charismatic entrepreneur can be good at rallying stakeholders and securing their startup’s resources to thrive.
Are these traits those of a jerk or the toolkit of a successful entrepreneur? The answer depends on your perspective and the perspective of investors. Investors see these qualities as indicators of someone’s ability to navigate starting, running, and leading a successful business.
Whether you choose to embrace these traits or find your own path, one thing is clear: these qualities drive results. Success may not always come with a friendly smile– but it often comes with an unwavering determination and grit to make things happen.
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Tags: Small Town Businesses, solving meaningful problems, Startups, successful entrepreneurship, West Virginia Small Business, WVCAP