What’s the secret of successful startups? The right people working on the right things, I said last week to a group of young people just beginning a multi-week program in business startup. At a time of doggedly high unemployment, a wave of creative entrepreneurship could be Canada’s secret weapon for getting more bright, self-starting youth into the workforce — but running your own business isn’t for everybody.
So what specific personality traits are most crucial to succeeding in your own business? I offered the students the following list:
Character and integrity Your word must be your bond. Trust is the true currency of business.
Market knowledge You need to know your industry and your market inside out. That may come from experience, instinct, or a flair for listening and understanding customers’ needs.
Social skills You must be able to communicate well with others, influence and motivate them and evaluate them and their suitability to meet your needs. It’s best if you genuinely like people, but not essential.
Commitment to innovation You should be a consummate boat-rocker, always looking to offer something new and different; you should strive constantly to do things better
Read more from Financial Post