Whether you’re trying to find partners or attempting to secure funding, growing a brand takes determination. Enterprise capitalist Arlan Hamilton looks for that determination, and other traits, in an entrepreneur to find out if their business might be successful.
Because the founding father of Backstage Capital, Arlan invests in overachieving, underrepresented entrepreneurs. Thus far, she’s backed 200 corporations, including Shop Latinx, Bippy, and Couplet Coffee.
In nine years, Arlan has met with 1000’s of potential founders and narrowed down her checklist of prerequisites. This list helps her make more informed decisions and find entrepreneurs who’re price her investment.
In relation to launching a successful and sustainable brand, Arlan has specific character traits she’s on the lookout for in a founder.
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The 5 character traits every founder needs
Ahead, Arlan shares five traits she needs any startup founder to have if she’s going to take a position in them.
1. Confidence
To Arlan, the embodiment of a very good founder is someone with “radical confidence.” A real sign of confidence is powering through when someone thinks you’re going to fail or won’t comply with work with you.
“You first should consider which you could accomplish it and that you just are the one to do it,” Arlan says. Ownership in your idea is essential too, because for those who don’t consider you’re the one to bring this business to life, then an investor won’t either.
2. Resilience
“If I’m going to pattern match for anything, it’s going to be grit, drive, and resilience,” Arlan says. Entrepreneurs have to have the option to survive ups and downs—coping with delays, or managing customer support, for instance. Your determination will keep you motivated as things evolve over time.
3. Open-mindedness
As an entrepreneur, it’s essential to recollect your online business goes to vary. Arlan desires to work with individuals who have accepted that some shifts along the journey might be vital.
There might be loads of pivoting, Arlan warns. Get comfortable learning along the best way, slightly than fighting to remain the identical. “It’s not only changing your mind. It’s evolving and having opinions as data presents itself,” she says.
4. Kindness
Unexpectedly, kindness is one among the important thing aspects Arlan looks for in founders. As a business owner, it’s inevitable that you just’ll interact with lots of of individuals, and also you never know who may have the option to enable you in return.
The way in which you interact with other people and businesses is a direct reflection of your brand.
“There’s so many individuals involved in your story, and there’s an impression you permit on this world, and kindness goes really far,” Arlan says.
5. Uniqueness
Arlan admires a founder who isn’t afraid to spotlight their unique perspective and what makes them different. Top-of-the-line ways to embrace your unique view is to start sharing your ideas with others—and find who you may partner with to bring them to life.
“Have an unique view of the world with strong opinions and willingness to execute, even when others are telling you you’re crazy,” Arlan says.
For those who don’t already possess these soft skills, work on constructing them alongside your online business. Treat every interaction as a option to grow personally and professionally.
To learn more about how Arlan chooses founders to work, with and her strategy for reaching $1 million in revenue, tune into the complete Shopify Masters episode.
