Success is a subjective concept that can be defined differently by each individual. However, one common thread that often emerges when discussing success is the presence of difficult experiences and how they shape individuals into achieving their goals. Josh Cote from EAW Consulting draws insight from an interview with Doug Leone, a prominent figure in the venture capital industry. He explores the correlation between challenging experiences and personal success.
The Traits of Successful Individuals
Doug Leone, who led Sequoia, one of the world’s most successful venture firms, for over 25 years, shares his perspective on the characteristics he looks for in young founders. He believes outlier individuals, those who have been told they are not good enough, possess an extraordinary drive for success. They often develop an intense desire to prove others wrong. This determination and tenacity often set them up for business success.
He also explains that sometimes, it’s not just down to difficult experiences that make people determined to succeed. He believes that genetics plays a role. Some individuals appear to be innately predisposed to being driven! They were simply born that way.
Doug considers this ability to be extra-driven as a tremendous advantage and a potential weakness, depending on how it is directed. Therefore, he will actively seek out this trait in young founders, hoping to identify its presence.
Once identified, he can assess whether it falls on the positive or negative spectrum and help support people with this remarkable yet vulnerable disposition by assisting them to channel it the right way.
The Importance of Self-Awareness
Self-awareness is another crucial trait for individuals who want to become winners. What is self-awareness? It’s about understanding oneself in a variety of ways, including:
- Strengths
- Weaknesses
- Motivations
- Challenges
- Desires
- Objectives
- Long term goals
This knowledge of self helps individuals make better decisions. Why? By learning from their experiences and examining their own behaviours, they create their own roadmap to guide them with full confidence in their abilities and challenges.
Taking Risks and Putting It All on the Line
Doug also suggests that one way to identify individuals with the potential for success is by examining whether they have taken risks earlier in life.
Those who are willing to step outside their comfort zones and put their guts on the line demonstrate a hunger for growth and a willingness to face adversity head-on.
These individuals often possess the resilience and determination needed to overcome obstacles instead of giving up.
While desperation may not be an ideal state, Doug believes that individuals who are ‘stuck’ or in ‘flight’ or ‘flight’ often have only one way to go: up or forward. This desire can serve as a powerful motivator, pushing individuals to work harder and strive for success.
Getting to know people
When talking about the types of questions Doug Leone asks new founders, he comments:
“I want to know about their upbringing. I want to know what kind of kids they were, their journey through life, their maturation through life.
He goes on to explain that he also asks individuals where they think they would get their best reference. And their worst! What is the importance of these types of questions? The questions reveal if they are truly self-aware. It shows they are able to see themselves as others do and that they can use experiences to solve problems and make progress.
Difficult experiences undoubtedly play a significant role in shaping successful individuals. EAW Consulting Founder Josh Cote works with small businesses going through rapid growth stages, and these points resonate. “I couldn’t agree more; exceptional drive, self-awareness, risk-taking, and resilience are all qualities that can be developed through challenging circumstances, and I’ve seen it time and time again with the young entrepreneurs I work with,” adds Mr Cote.
Josh Cote has learned from consulting with 100+ businesses worldwide that with the right mindset, every business can be successful.
To discuss your business needs and how Josh can help you, contact him today. https://www.eawconsulting.co.uk/
