entrepreneur: Do you have the DNA to be an entrepreneur?

A novel idea, great effort, some luck, and good timing. All that sum could lead to entrepreneurial success. But who is an entrepreneur? What drives them? What characteristics best describe them?

If you want to go down the entrepreneurial journey which is undoubtedly challenging; it is wise to look within and become more aware of your own personality, so that you can channel your strengths and overcome your weaknesses.

Researchers have been intrigued and have examined the personality traits of entrepreneurs using the Big 5 personality approach – considered the most scientific and modern. Research has also found that some of the variation in who becomes an entrepreneur is due to genetic factors. People with different versions of certain genes have different chances of developing certain personality traits. These genetically influenced personality traits, in turn, influence the likelihood that a person will become an entrepreneur.

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Let’s look at some of those characteristics and implications
First, to start a new business, you need to be extremely open-minded. Openness is a measure of a person’s creativity, imagination, intellectual curiosity, and preference for novelty. Ask author and motivational speaker Simon Sinek, who thinks business owners are problem solvers at their core. If you tend to be overly cautious and prefer routine and stability, you probably don’t have the risk appetite to handle the highly turbulent environment of startups.

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While it’s great to have unique ideas, entrepreneurship requires action, not just dreams. A high level of conscientiousness is important for long-term success. Successful founders must have a can-do mindset and be action-oriented. A lack of self-efficacy or the inability to manage your to-do list can make you give up on projects as their excitement fades or fades. Whatever you want to call it – persistence or willpower – successful business people keep moving forward in the face of challenges and failures.

Entrepreneurs are very diverse and therefore, there are mixed views in personality research about them Unity. Most research suggests that entrepreneurs are generally low on satisfaction while other pieces of research suggest that engagement and entrepreneurship are positively correlated. Being an innovator means you are taking a step like no one else. Because of this, many people would advise you not to do what you want. While it would be vital to stick to your own beliefs and ideas, it will be just as important to bring people on a collaborative journey.

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You need to be persuasive, a passionate salesperson at heart to be able to convince and sell your big idea to people on a regular basis – without any external pressure. Advanced marketing will make it much easier for you to market your concepts to a large audience and build relationships with your clients, partners and other stakeholders.

Needless to say, there is a high level of uncertainty which can lead to high levels of stress for people who are more anxious. Low neuroticism or emotional stability will be a great help to deal with stressful situations and the lows that a business may have.

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To be an entrepreneur – you need the optimism gene. A combination of extraversion and low neuroticism. Are you an optimistic and confident person who believes that bad times will pass, and that good things will happen? Do you see opportunity in every difficulty?

And finally, the most important thing you consider before 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 one trait – it’s the drive behind multiple traits like creativity, flexibility, and sales.

(The writer is founder and CEO, GENLEAP)

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