Here’s that old statistic – only about 1 out of 10 startups become successful. For aspiring founders, this is one more reason – a strong one at that – to give up.
But this isn’t always the case – new ventures come up every other time. And some go on to be big successes. A lot could be said about just why this happens.
But there is no doubt that the founders play a critical role. Successful founders have personality traits that boost their odds by a huge margin. Here are 8 of them.
1. Innovation
Successful founders are innovative. They are always on the prowl seeking out new (and better) ways of doing things. This ability to create meaningful solutions is what makes them thrive where others have failed.
Larry Page and Sergey Brin, for instance, created a new way of searching for information online, thud ending up with one of the largest and most successful companies.
2. Self-Awareness
Self-awareness is pivotal in how founders interact with their surroundings – an important aspect of drawing others along to their goals. By being self-aware, founders are not only conscious of their strengths but also their limitations.
As such, they acknowledge when they err and pick out great talent to stand in for them where they come up short.
3. Clear Vision
Successful founders have a clear mental picture as to what they want for their companies a few years down the line. And it’s not just their companies.
They also look at the whole industry in general and the position they’ll be occupying.
4. Passion
A genuine interest in what they’re creating is what keeps founders at it; even when rewards aren’t forthcoming. Passion is what makes them not give up along the way.
And the passion doesn’t affect only them. It spreads on to everyone who comes into contact with them – be it team members or customers.
5. Resilience
Chances are every successful founder failed a ton of times before finally hitting the jackpot. To them, failure is only natural.
What matters are the accompanying lessons. They are pointers as to what to avoid in the next shot at doing business.
6. Ability to Plan for the Future
Even with a clear vision, the future is always uncertain. That’s why, in addition to a clear vision, successful founders put measures in place for any surprises – financial or otherwise.
This is where innovation comes in handy as a founder can tweak the available solutions to fit perceived future changes.
7. Good Communication Skills
Good communication is what will open doors in multiple ways for founders. And successful ones have these skills.
These skills help them address the problem they are trying to solve and why their solution is the best. Also, good communication helps them appeal to both potential partners and employees – helping them create kickass teams.
8. Decisiveness
Successful founders don’t second-guess their steps. Nor do they sit on issues for prolonged periods. They make decisions fast and in an effective manner.
Moving fast gives them a certain edge.
Final Thoughts
Startups’ success is hinged to a certain extent on the founders. The personality traits of the founders can mean doom or bloom. With the above 8 traits, you can easily develop an entrepreneurial character and shape your path towards a better position.
