Take a moment before you go any further to imagine your own interpretation of what an introvert is. What immediately springs to mind are the terms shy, quiet, solitary, and boring yeah? True, but I promise that conception is a little off. Shyness and introversion are not entirely exclusive because extroverts can be shy as well. However, in this article, we will focus on introverts as better entrepreneurs.
In an interview with Business Insider, Elon Musk explains his commercial showmanship with, “I’m basically like an introverted engineer, so, it took a lot of practice and effort to be able to go up on stage and not just stammer basically…As the CEO, you kind of have to.”
You might say,
“But an entrepreneur needs to be charismatic and be a big speaker to garner a following!.” Remember that influential speaking is ineffective unless accompanied by active backing. Influential speaking could lead to a variety of careers, but in entrepreneurship, you must be more active than provocative. Less talking implies intellectual interactions, which are in high demand in our entrepreneurial sector.
With 25–40% of the world’s population clinically categorized as introverts, it goes without saying that a high majority of entrepreneurs will indeed be introverts. Will they make great entrepreneurs? Let us find out.
WHO IS AN INTROVERT?
An introvert is a person who exhibits traits of the inner personality type, which means they prefer to focus on their inner thoughts and ideas rather than what is happening around them. They choose to spend most of their time with one or two people rather than large groups or crowds.
Introverts tend to listen more than they speak, which is useful for gathering feedback and understanding customers. Moreover, introverted entrepreneurs are much more independent and comfortable working alone, which is commonly important in the preliminary stages of establishing a business.
Your character traits can have a significant impact on how you do business. If I asked you if an introvert or an extrovert would make a better entrepreneur, most people would say extroverts. Most people have the natural charisma and can even sell water to a fish.
However, you would be correct if you consider that introverts could contribute just as much, if not more.
- Deep thinkers.
This indicates that an introverted boss will most likely re – evaluate an idea before putting it into action. The extrovert may be more impulsive, which means they may make decisions that have a little bit of recoil, and he may need to undertake a lot of damage control to correct the mistakes. The introvert’s inclination to deliberate and consider choices typically prevents this.
Addressing a current issue while keeping an eye on its long-term consequences requires a calm, observant mind. Extroverts, no matter how assertive they are, constantly find themselves drifting from crisis to crisis, unable to recognise the connection between present difficulties and future concerns. An introvert would be better equipped to take a step back, assess the situation, and alter plans accordingly.
- No need for external affirmation.
Introverts rely primarily on their own inner compass to determine if they are making the right decision or performing well. Introverts rely on their intuitions often, and it can provide them with an edge.
When introverts believe their ideas are sound, they do not back down and thus do not seek validation from others. While they appreciate external validation, it is not a vital part of the process, nor does it define or divert them from the end goal. They have a clear view of what is worthy to pursue and what should be left alone.
- Listen more attentively.
Introverts love to bring order out of chaos, which they accomplish through listening, observing, and analysing a situation. Their ability to connect disparate links might save the company.
Have you ever tried to interrupt an extrovert? If you have, you are aware of how difficult it may be to get a word in edgewise. Sometimes it is because he or she has moved on to the next idea, and then the following 10 moves. There is nothing wrong with it. However, listening is the most essential thing an entrepreneur can do. I noted earlier that, introverts do not often speak up unless they have something to contribute, and this could be beneficial, especially in times of crisis.
Again, many extroverts are prepared to listen, but consider how many calm leaders you know if you work in business. How many of them, if you approached them with a severe problem, would listen to you and take you seriously? And how many leaders do you know who do not listen and instead wait eagerly for their opportunity to speak? Introverts provide many insightful, game-changing questions because they listen and pay attention to the subtleties of what others say.
- Take other people’s ideas into consideration.
Along with being excellent listeners, introverted entrepreneurs are constantly on the lookout for the optimal solutions and are far less prone to let their egos cloud their judgement.
When striving to create a profitable company, having the most brilliant individuals on your side comes in helpful. “Extroverts want to promote their own business plans, according to NextShark’s Waylae Gregoire, but introverts focus on the thoughts and actions of others.” Introverts are naturally accustomed to analyzing the ideas of others, providing meaningful input, and arranging what others bring to the table as entrepreneurs.
Because introverts do not need to thrive socially all the time as extroverts do, they tend to complete projects and tasks more promptly. They are less likely to be distracted or drawn away from concentrated work time by personal matters. They want to create, and not be the centre of attention. For starters, introverts are often extremely passionate about their ideas and creating something new.
“They are not all about gaining power and they do not crave glorification, Cain explained to the Wall Street Journal. She says, “By their nature, introverts tend to get passionate about one, two or three things in their life… and in the service of their passion for an idea, they will go out and build alliances and networks and acquire expertise and do whatever it takes to make it happen.”
- No Extra Care About Being Undervalued.
The introvert knows he is exceptional at what he does, but he does not make a big deal out of it since it offers him more room to win. Extroverts, on the other hand, are known to live on applause and admiration. Although both introverts and extroverts want the same thing, introverts do not make their plans known since being undervalued relieves them of the continual pressure to outdo themselves. But when they do, they make certain that everyone knows about it.
These are some of the personal traits that might give introverts the upper hand in entrepreneurship.
Many entrepreneurs and CEOs are either self-avowed introverts or demonstrate so many introvert traits that they are widely assumed to be introverts. Bill Gates, the co-founder of Microsoft, Steve Wozniak, the co-founder of Apple, Larry Page, the co-founder of Google, Mark Zuckerberg, the co-founder of Facebook, Marissa Mayer, the current president and CEO of Yahoo, and Warren Buffett, the chairman and CEO of Berkshire Hathaway are among them.
Introverts succeed as entrepreneurs because they “create and lead companies from a focused place,” according to Susan Cain, author of “Quiet: The Power of Introverts in a World That Can’t Stop Talking” and founder of Quiet Revolution, an introvert-oriented website. She co-founded the Quiet Leadership Institute last spring, a consulting firm with the purpose of assisting companies in harnessing the brilliance of introverted people and helping introverts in tapping on their inherent abilities. General Electric, Procter & Gamble, and NASA are among the company’s clientele.
Take Bill Gates, currently the wealthiest person on earth, worth $79.2 billion and one of the most influential businessmen who has ever lived. From an interview on the Huffington Post, writer Susan Cain noted that, “Bill Gates is quiet and bookish, but apparently unfazed by others’ opinions of him: he’s an introvert, but not shy.”
Warren Buffett, one of the most successful investors ever, is an introvert. J.K. Rowling, the author of the famed Harry Potter series remembers being too shy to ask anyone for a pen to jot down her ideas when she first produced the concept for her book series while sitting on a delayed train.
The list continues, and this is not to argue that extroverts do not make great entrepreneurs or attain success in life. We are all aware that the popular belief doesn’t really favor introverts hence this article.