“Leadership consists not in degrees of technique but traits of character.”- Lewis H Lapham
Traits may vary across geographical areas and domains. It is an identifying characteristic, a habit, or a trend. Ideally, traits can be defined as distinguished qualities that identify unique aspects of a person or a company and differentiates them from others.
- Gordon Allport, American Psychologist is the first modern trait theorist who proposed three types of traits as Cardinal traits, Central traits, and Secondary traits.
- According to his theory, Cardinal traits shape one’s behavior. They are the ruling passions of an individual that are powerful; a single trait that makes them unique.
- Central traits coin the general characteristics that serve as a strong foundation for behavior.
- Secondary traits represent one’s preferences and attitudes. It’s unusual behavior that is prevalent only in certain situations.
In this context, we are referring to the Traits of the Cardinal type. They are responsible for building a strong corporate culture and result in exceptional startups.
Challenges are part of an entrepreneur’s life. The IBM reports on the Indian startup ecosystem (2018) indicates that about 90% of Indian startups fail within 5 years of initiation due to a lack of innovation.
When the majority of startups have failed, what might be the reason for the rest of the 10% of startups to survive? What is the secret of their survival? Let’s find out what is the unique factor that kept them on the track of Startup/Business.
- Rishabh Lawania, the Head of Market Intelligence company stated that ‘The major reason behind the closing of 1503 startups in 2015 was not because of lack of funding but because of replication of Western business models.
You are the writer of your ‘Startup Story’. Traits are beyond money. They can help you to make money and fame for your business.