Becoming an Entrepreneur in the Digital World: Personality Traits That Bring Success

Baltas Group

In today's world, digital entrepreneurship has become the shining star of an era and has revolutionized business. With increased accessibility, many people dream of becoming successful by starting startups and offering products or services to communities. However, in order to realize these aspirations, certain personality traits play as important a role in the operational processes of startups as the planned business capital. When examining the personality traits of popular entrepreneurs in today's world, certain personality dimensions seem to be of particular importance; these are achievement orientation, extraversion and openness.

When we examine the personality traits of entrepreneurial people, the first thing that catches our eye is the success orientation dimension. In this dimension, the contribution of traits such as assertiveness, self-confidence and competitiveness is important. Assertiveness makes it easier to take action and allows us to seize opportunities. However, self-confidence, which supports self-efficacy, plays an important role in entrepreneurship in terms of being persistent in the face of obstacles. Along with courage and belief in success, competitiveness, which reveals the need to be ahead, is also of great importance on the road to success. For example, Jack Ma, the founder of Ali Baba, is a living example of these characteristics in the world of entrepreneurship. In 1995, Ma went to the US, where he was introduced to computers and the internet. Unable to find any content about China on the internet, Ma thought that Chinese people should also be present on the internet and founded Alibaba in 1999 with investments from his friends. As an indicator of his entrepreneurship, Ma chose to chart his own path and pursued his goals without paying attention to doubts. The fact that Alibaba was turned down by countless investors during its founding period did not shake his confidence. Despite the presence of Western technology giants such as eBay and Amazon, he fought without losing his competitive spirit. Jack Ma, who had never written code or sold anything to anyone before, has today created a value of 231 billion dollars with his digital venture.

In entrepreneurship, building a strong network and cultivating business relationships is critical. Extroverted entrepreneurs can communicate more effectively with potential investors, customers, business partners and employees, and contribute to business growth by increasing business opportunities. In addition, extraversion is often associated with charisma. By motivating their teams, sharing their vision and instilling passion for their work, extraverted entrepreneurs play an important role in building team synergy on the road to success. For example, Oprah Winfrey is an entrepreneur who has built a media empire with her television program “The Oprah Winfrey Show”. Winfrey has appealed to a wide audience with her extroverted personality, charisma and effective communication skills. Oprah is also known for her ability to connect with and influence people, which is an important part of her success in business.

Another entrepreneurial personality trait is openness. Individuals with this personality trait are creative and innovative people who are not afraid to try new things, open to development (Yılmaz & Sözcan 2019). With the globalization brought by the digital world, doing what has not been done, that is, being innovative, eliminates market competition, which is the most challenging factor in entrepreneurship. With the developing logistics networks, the cost and taxation factors of countries lead to an increase in the price gap for the same products, leading to customer selectivity. At this point, an innovative approach or product increases the success potential of the venture. For this personality dimension, we can cite the innovative business models of Elon Musk, one of today's popular entrepreneurs. Musk has revolutionized projects in areas such as space exploration, electric vehicles, artificial intelligence and tunneling technologies, showing us the importance of innovation in venture success.

Personality Inventory, which enables us as Baltas Group to shed light on ourselves in order to realize our principle of people and change, is a lens that enables us to see the personality dimensions necessary to achieve success in the entrepreneurship world. It offers a perspective on how entrepreneurs can recognize the personality traits needed for success and how they can use these traits. As a result, individual development and awareness are as important factors as capital and business planning to increase success in entrepreneurship. For more detailed information about the importance of personality traits in business life and to gain an awareness that will shed light on your path, you can review our issue titled Personality in our Source Magazine, https://kaynakbaltas.com/dergiler/kisilik/#flipbook-df_5820/1/ link.

Source

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Düger, Y. S., & Ciner, A. (2023). The effect of personality traits on the formation of entrepreneurial and innovative behaviors: The mediating role of psychological capital. Business Economics and Management Research Journal, 6(1), 100-121.

Yılmaz, T. & Sözcan, Z. (2019). The effect of personality traits on entrepreneurship tendency: The case of Sakarya University. Journal of Information Social Sciences, 21(1), 78-107.