Adeo Ressi Quotes
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The most successful entrepreneurs in the world have a combination of the right type of personality and fortunate life circumstance. A lot of them have been doing it most of their life.
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There is a saying in entrepreneurship that your early employees are all commandos. Commandos are people who can do almost everything well: emails, strategy, code, design.
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There are a number of traits that combine to create entrepreneurial potential. We find that openness coordinates very well with successful entrepreneurs. The more open-minded you are, the more you see the world as it actually is. The more closed-minded, the more you see the world as you want it to be.
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Start-ups often die in the first 18 to 24 months because of formative mistakes, like choosing a bad co-founder or the wrong corporate entity or an inappropriate platform. Ninety percent of the companies the Founder Institute has created are alive because we've helped them avoid those mistakes.
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A high openness score means you're open-minded - you see the world for what it is - whereas a low openness score means you're incredibly closed-minded, and you see the world the way you want to see it, regardless of what is actually going on.
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Openness explains the ability to innovate and come up with big ideas because you're open to them, and fluid intelligence explains the ability to go and execute.
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Some of the traits that make you a great entrepreneur also work against you. Examining data of high-scoring people, we find that oftentimes the world frustrates them: They're super-smart, they're super-capable, and the work quality of their peers is vastly inferior to what they can achieve on their own.
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Fluid intelligence is not a Big Five personality trait: It's a measurement of one's ability to rapidly learn and apply a rule set. As an entrepreneur, you're rapidly dealing with different issues, and your ability to switch from one issue to another is very important.