3 traits of entrepreneurs and leaders

Last week we wrote about Helen and the startup club, Sparrows, that have gone from strength to strength. It's still early days, but the ongoing optimism and Helen's approach to the business remind me of a few traits of successful entrepreneurs and leaders alike.

1. They have a belief and they communicate it consistently

In Simon Sinek's TED talk "How Great Leaders Inspire Action," he codifies the 'Why' before the How and What. It's an old video from 15 years ago but arguably more relevant today.

He says that leaders of businesses (regardless of their size), live and breathe their 'Why', and inspire others to the same belief in their purpose and its value to society. The 'Why', or the inspiration, its purpose or mission, is the competitive advantage, the reason people connect with the offering or leaders. This needs to be communicated and capitalised.

For Helen, her "why" was connecting with her passion for bringing healthier living through volley and pickleball to communities. Sparrows is an embodiment of her purpose and the vehicle to communicate it.

2. They capitalise on opportunities with impeccable timing

According to Bill Gross in his TED Talk "The single biggest reason why start-ups succeed," the most crucial factor is timing, but this is true only when other key elements necessary for success in new ventures are also present. Timing acts as the decisive factor, but it can only do so when the other elements are in place.

Bill Gross says that the best way to really assess timing is to really look at whether consumers are ready for what you have to offer them and be really honest about the results, even if the answer is not what you want.

The five elements are:

• Ideas

• Team

• Business model

• Funding

• Timing

Helen had already developed a modest following and formed local connections within the volleyball community who were keen to commit. As she evaluated her numbers and current commitments, the idea grew within her. When the opportunity presented itself, she was ready to seize it and turn it into reality. It appeared unexpectedly, but without being prepared to grasp it, it might have passed her by. Without the right timing and readiness to act, the opportunity could have been missed.

3. They have grit (and a growth mindset)

Managing a business and leading within one can appear quite distinct in practice, yet they share similar challenges and opportunities. Neither is easy and both demand determination and a growth mindset to navigate through difficulties and learning experiences to achieve continuous improvement.

Angela Lee Duckworth's short TED talk "Grit: The Power of Passion and Perseverance" observed that the trait of 'grit' is the strongest predictor of success. "Grit is the passion and perseverance for very long-term goals. Grit is having stamina. Grit is sticking with your future, day in, day out, not just for the week, not just for the month, but for years, and working really hard to make that future a reality. Grit is living life like it's a marathon, not a sprint."

Helen managed a full-time job while pursuing her idea and dream for years, drawing in like-minded individuals and satisfied customers. There is significant potential for growth and increased competition. The ability to consistently maintain and expand will be Sparrow's ongoing challenge, which is both intriguing and rewarding.

Your purpose and mission is worth pursuing

Your ideas and goals are worth pursuing. At times, it may seem difficult or impossible, but without taking steps to chase them, along with preparation and determination, you won't be ready for opportunities when they arise.

At the Quiet Leadership Lab, we aim to celebrate and share successes in all their various forms. Remember, you're running your own race, not anyone else's. Feel free to reach out if you need assistance, and follow us for weekly insights to support you on your journey.