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New research shows entrepreneurs who have the greatest success in raising money for their startup have a key personality trait in common – they have an 'ambidextrous' mindset.
Most of us are either right or left-handed, but someone who is ambidextrous can use either hand equally well. An ambidextrous mindset is the ability to think and behave in opposite ways equally well depending on the situation.
Entrepreneurs - Personality - Traits - Ability - Way
We might traditionally associate successful entrepreneurs with personality traits such as being creative, disruptive, agile and innovative, but the ability to behave in the opposite way, to be efficient, precise and process-oriented when needed, is also necessary to grow a venture.
Startups play an important role in growing Australia's economy, but to do this they need to raise funds from angel investors, venture capitalists or through crowdfunding platforms. Knowing the traits funders are looking for will help entrepreneurs tailor their pitch.
Link - Startup - Founder - Mindset - Fundraising
To test this link between a startup founder's ambidextrous mindset and their fundraising success, Dr. Hillbun Ho from the University of Technology Sydney and Dr. Valeria Noguti at Nanyang Technological University examined the online language of 90 startup founders.
This included discussions in online forums, with fundraising success determined from information available on the Crunchbase website―a crowdsourcing platform that offers data on startup funding.
Entrepreneurs - Funds - Time - Words - Innovation
Entrepreneurs who were most successful in raising funds over time used words that convey innovation – such as invent, innovate, novel – and words that convey efficiency –...
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