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Whether you’re looking for a partner or trying to secure funding, growing your brand takes determination. Venture capitalist Arlan Hamilton looks for determination and other characteristics in entrepreneurs to determine whether a business will be successful.
As the founder of Backstage Capital, Arlan invests in undervalued and undervalued entrepreneurs. To date, she has supported 200 of her companies including Shop Latinx, Bippy, and Couplet Coffee.
Over nine years, Arlan met with thousands of potential founders and narrowed down a checklist of prerequisites. This list will help her make more informed decisions and find entrepreneurs worth investing in.
When it comes to launching successful and sustainable brands, Arlan has certain personality traits he looks for in founders.
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5 personality traits every founder needs
Arlan shares five traits he looks for in startup founders when investing in them in the future.
1. Confidence
For Arlan, the embodiment of a great founder is someone who has “radical self-belief.” Confidence is strong when someone thinks you’ll fail or doesn’t agree to work with you.
“First, you have to believe that you can accomplish it, and that you are the one to accomplish it,” Arlan says. It is also important for him to take ownership of his ideas. Because if you don’t believe you can make this business happen, investors won’t either.
2. Resilience
“If I could pattern match anything, it would be grit, drive, and resilience,” Arlan says. Entrepreneurs need to be able to navigate ups and downs, such as dealing with delays and managing customer service. Your determination will keep you motivated as things evolve over time.
3. Open-minded
As an entrepreneur, it’s important to remember that your business will change. Arlan wants to work with people who accept that some changes will be necessary along the journey.
There will be many changes in direction, Erlan warns. Instead of fighting to maintain the status quo, be comfortable learning along the way. “It’s not just changing your mind. It’s evolving and opinions are emerging as the data shows,” she says.
4. Kindness
Surprisingly, kindness is one of the key qualities Arlan looks for in founders. As a business owner, it’s inevitable that you’ll be dealing with hundreds of people, and you never know who will be able to help you.
The way you interact with other people and businesses is a direct reflection of your brand.
“There are so many people involved in your story, the impression you leave on this world is huge, and your kindness really comes through,” Arlan says.
5. Uniqueness
Arlan admires founders who aren’t afraid to highlight their unique perspectives and differences. She says one of the best ways to embrace your unique perspective is to start sharing your ideas with others and find someone to partner with to make those ideas a reality.
“Have a unique worldview with strong opinions and a desire to implement, even if others call you crazy,” says Arlan.
If you don’t already have these soft skills, work on building them alongside your business. Treat every interaction as a means to grow both personally and professionally.
To learn more about how Arlan chooses the founders he works with and his strategy for reaching $1 million in revenue, read the full story. Shopify Master episode.
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