Entrepreneurial Traits – Being Mindful is key to Success

Entrepreneurial Traits – Being Mindful is key to Success

Sridhar Rao

Management Consultant and Coach

@emesar2

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Google the words Entrepreneurial Traits; you will get 8.5 million links to write-ups on this subject. Each write up advocates a certain number of traits as critical; some give 10 traits, some others 20 traits and so on..

How does one figure out which traits are more important than others? And how does one imbibe all these traits?

5 Deliverables of an Entrepreneur

Logic is the best way to arrive at any prioritization. Entrepreneurial traits too need to be identified on that basis. So what should the logic be? Let’s start with what an Entrepreneur needs to do to build a successful business.

There are five key deliverables expected from the entrepreneur and the senior management team. These are

  1. The Vision for the business.
  2. The passion and energy to keep the momentum high.
  3. Planning and Directing the execution strategy to ensure success
  4. Managing people – internal and external, to get the best out of them
  5. Perseverance – to keep moving despite hurdles and hardships

What traits does an entrepreneur need to ensure he/she can manage on all these fronts?

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Core Entrepreneurial Traits

At the core, the entrepreneurial traits needed are – Creative thinking, Enthusiasm, Market Understanding, People Management, Positivity, Resilience.

The truth is- every one will have a bit of all of these.

The truth also is – there is no one type of personality or style that has all this in the right measure. Bill Gates, Steve Jobs or Mukesh Ambani clearly don’t seem similar to each other. Yet they are all big achievers who definitely had all the 6 core traits, at the right time, in right measure,  in order to achieve their goals.

But one thing is for sure – each of these super successful persons couldn’t have had just one way of handling each situation. It was their ability to align their style with the situation on hand, that made them succeed.

Becoming a Mindful Entrepreneur 

“Every action has an equal and opposite reaction”, is not just Newton’s third law of motion. It is as much applicable to human interactions. For example, you politely request for some help, you get one kind of a response. The same request if made as a demand or entitlement, will evoke another kind of a reaction. You put out a logical explanation, it would show a third kind of response. In human behaviour it is also called the law of Karma.

When will the polite style work; when does one need to be demanding; and when must one sit through a discussion to get some action happening? This needs an ability to be mindful of situations, to enable conscious adoption of an appropriate style.

Effective management involves being sensitive to others involved; doing things in a way such that, relationships are not affected negatively while achieving results. This is because relationships with internal teams or external entities are critical for business sustainability.

A lot of deals and understandings happen or don’t happen precisely because of this fact. Ensuring that a majority of the interactions are successful is the cornerstone of entrepreneurial success; be it interactions with customers, investors, vendors or one’s own team members.

How does one learn to become mindful? Becoming a mindful entrepreneur involves understanding oneself and others; and learning to take the pauses required before acting.

As we get aware of our own patterns of behaviour, we start getting answers to what drives us; what is stopping us; and what is it that could be done differently.

A recent Workshop on Becoming a Mindful Entrepreneur

InfinumGrowth recently conducted an online workshop for entrepreneurs who were members of TIE Mumbai.

This three day workshop , titled Realise your potential – Become a Mindful Entrepreneur, was conducted by Ragini Rao, Psychotherapist & Transactional Analyst and Co-Founder, InfinumGrowth.

The workshop took participants through a logical process based on the framework of Transactional Analysis, to

  1. Understand the need to become more mindful in managing actions and interactions.
  2. Become aware of one’s own personality and thought processes.
  3. Evaluate one’s inter-personal communication style.
  4. Understand what are one’s motivators and inhibitors.
  5. And lastly, define the changes one would want to bring about in all the above.

The participants were excited with the new framework they had acquired in managing, not just their work, but even their personal lives.

Some feedback received after the program –

Had a great time and was useful insight into our leadership styles and communication at work. – Ashwini

Intuitively, we may know some things, but the way Ragini Rao put it all together, curating it succinctly and seamlessly, it was a great refresher and provided us a truly new point of view – Soniya

The program was well planned and content was very good. Ragini was so calm and composed that we could surrender and just listen to her…This framework of PAC will definitely help me…. – Sanjay

A vast majority of people in this world are self employed. Greater success in endeavours comes to those who become aware and mindful in building their businesses.

Please do leave your comments at the bottom and do share with others if you like this article.

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Mani Padmanabhan

Wonderful article. The deliverables are so clear and universal. Styles of leadership can be different. Understanding one’s own strengths, nature is most important rather than cloning done successful people.

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Infinum Growth Insights

Thanks Mani!

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