Game of Entrepreneurs

Entrepreneurs

Success as a entrepreneur is a combination of various factors, including hard work, luck and personality. Despite research on the subject, there is little understanding of the specific inner qualities that make successful entrepreneurs. The personality plays a significant role in performance and seven key factors that separate successful entrepreneurs from the rest.

These seven key factors include a strong work ethic, resilience, adaptability, a growth mindset, a deep understanding of the market and customers, a clear vision and the ability to execute on that vision, and the ability to inspire and lead a team. These traits are not only important for starting and growing a business, but also for navigating the inevitable challenges and obstacles that arise along the way. Additionally, successful entrepreneurs possess the ability to take calculated risks and make bold decisions, while also being able to pivot and adapt as needed. In short, personality traits play a critical role in determining the success of an entrepreneur. They shape the mindset, behavior, and approach of an individual, which in turn, shapes the outcome of their venture.

Why Entrepreneurship?

Simon Sinek's TED Talk, "Start with Why," highlights the importance of understanding the "why" behind our actions and decisions as leaders. According to Sinek, most people understand the "how" and the "what" of a task or goal, but not the underlying purpose or motivation. He distinguishes between two types of "why": one that is determined by external factors, such as being promoted or recognized, and one that is driven by a deeper sense of purpose and meaning. Entrepreneurs, in particular, are often driven by a capitalized "Why" that aligns with a higher purpose and fuels their drive to effect change in the world.

This process of finding one's purpose or "why" is often subconscious and difficult to articulate. However, the Japanese concept of ikigai offers a framework for understanding and discovering one's unique purpose. Ikigai translates to "reason for being" and is the intersection of four key elements: what you love, what you are good at, what the world needs, and what you can be paid for. By exploring these elements and identifying where they overlap, one can discover their ikigai and find a sense of fulfillment and satisfaction that goes beyond monetary gain.

Finding one's ikigai may take time and self-reflection, but it is worth the effort. It requires exploring interests, talents, and values, seeking guidance from mentors, and trying new things. It may involve experimentation and trial and error, but once discovered, one's ikigai can serve as a guiding principle and source of balance and harmony in life.

Being Congruent

Being congruent means that your actions align with your values and purpose. While anyone can strive for congruence, it is particularly important for entrepreneurs to have self-awareness and stay in alignment with their goals, values, and mission.

However, it's important to note that congruence is not a static state, it can change depending on the situation. Successful entrepreneurs are able to bring themselves back into congruence by letting go of temporary irritations and focusing on their goals and values.

For example, when a soccer team loses, it can be understandable to be temporarily upset, but it's important to know when to move on and not let it affect one's overall well-being.

Being congruent also affects decision-making and overall happiness. When one is congruent, they are able to stay true to their authentic self and make decisions that align with their values. This is particularly important when it comes to choosing a job or career. Many people may stay in a job for a long time because of financial obligations, but if it is not congruent with their values, it can lead to unhappiness and dissatisfaction.

In conclusion, congruence is important for entrepreneurs and anyone striving for fulfillment and satisfaction in their lives. It requires self-awareness and the ability to align actions with values and purpose. By staying congruent, one is able to make authentic decisions and lead a happier and more fulfilling life.

Courage

Entrepreneurship requires a significant level of courage, as it involves taking risks, making tough decisions, and standing up for one's beliefs. As Ben Horowitz states in his book "The Hard Thing About Hard Things," courage is the key factor he looks for in an entrepreneur. This trait is essential for entrepreneurs to navigate uncertainty and make decisions without having all the answers.

Entrepreneurs must have the courage to pursue their goals, even in the face of opposition or failure. Failure is an inevitable part of the process, and entrepreneurs must have the courage to accept and learn from their mistakes. They must also have the courage to stand up for their values and beliefs, even if it means going against the norm.

To develop courage as an entrepreneur, it's essential to be self-aware, stay true to one's values and purpose, and have the determination to see things through. It's important to remember that courage is not something you have all the time, but it's something you can call upon when you need it. There are many resources available to help entrepreneurs develop courage, such as self-help books, podcasts, and workshops.

In conclusion, courage is a vital trait for entrepreneurs. Without it, the road to success will be much harder, but with courage, entrepreneurs can achieve their goals and make a meaningful impact. Remember to stay true to your values, purpose, and develop the courage to face uncertainty, take risks, and learn from failure.

Having a Goal-Focused Mindset.

Managers and established companies often adopt a left-to-right approach when it comes to decision-making and problem-solving. They start by evaluating their current situation and then determine the steps needed to reach a desired outcome. However, this approach can hinder innovation as it can be challenging to think outside of the present state of affairs.

Entrepreneurs, on the other hand, tend to adopt a right-to-left mindset. They begin by envisioning the desired outcome, and then work backward to identify the actions needed to achieve it. They have a clear understanding of their goals, the purpose behind them, and the steps and resources required to reach them. They do not let perceived limitations stand in their way and their internal vision of the future becomes their external reality.

One example of an entrepreneur who embodies this approach is Steve Jobs, who was known for his ability to inspire others to achieve the impossible with his "reality distortion" charisma. At its core, right-to-left thinking is about existing in a future state and while it may be hardwired, it can be trained and developed like a muscle.

Being at Cause

Entrepreneurship is a challenging and risky endeavor that requires a certain level of courage. In his book, "The Hard Thing About Hard Things," venture capitalist Ben Horowitz states that courage is the one trait he looks for in entrepreneurs. The ability to face uncertainty and make decisions despite not having all the answers is crucial to success in entrepreneurship. Strong entrepreneurs are comfortable with ambiguity and willing to take risks to achieve their goals. They also stand up for their beliefs and values, even if it means going against the norm or facing opposition. Failure is also a part of the process and entrepreneurs must have the courage to accept and learn from their mistakes. In today's fast-paced business world, it can be easy to follow trends, but true success comes from staying true to oneself and one's values. To develop courage as an entrepreneur, it's essential to be self-aware, stay true to one's values and purpose, and have determination to see things through. Reading books like "The Hard Thing About Hard Things" by Ben Horowitz, as well as self-help books, podcasts, and workshops can help entrepreneurs develop this crucial trait. Without courage, the road to success will be much harder, but with it, entrepreneurs can achieve their goals and make a meaningful impact.

Intuition

It is commonly believed that entrepreneurs tend to be more left-brained, or logical, linear and detail-oriented in their thinking. However, in today's business environment, it is essential for entrepreneurs to have a balanced approach, utilizing both their left and right brain skills. The ability to think analytically and creatively simultaneously is a crucial skill for entrepreneurs, as it allows them to see the bigger picture and think outside the box.

Another important aspect of decision-making for entrepreneurs is intuition, which can be thought of as a third "brain" that operates through the gut. This intuitive sense allows entrepreneurs to process available information and make decisions based on a combination of facts and gut feeling. For those who may lean more towards one side of the brain, it is possible to develop and strengthen their ability to use both analytical and creative thinking.

Significance of Experience

Past efforts and experience play a crucial role in achieving success as an entrepreneur. Possessing knowledge and skills alone are not enough to guarantee success, one needs to have the necessary experience gained through hard work and practice. Many individuals may not realize that they possess entrepreneurial qualities, as activities such as starting a family or relocating to a new country also require entrepreneurial traits such as having a clear purpose and adapting to new situations on the fly.