“We all move along the continuum of introvert and extrovert behaviors and preferences all day long.” – Patricia Weber, Co-author of Complete Guide to Successful Collaborations
To start of, no one can be a complete introvert or a complete extrovert. People can display characteristics of either personality type depending on their situation. Broadly speaking, extroverts are perceived as outgoing and expressive while introverts are perceived as quieter and more reserved. Different traits contribute differently towards making good entrepreneurs and leaders. Here are a few areas where extroverts would excel:
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An idea will not convert into a business venture until it is put across the table impressionably enough to convince people to invest in the same. People don’t invest in the product but the people making it. Effective communication is a strong and necessary tool for the establishment of a venture, and also helps in better marketing and visibility.
For instance, Steve Wozniak, who is an introvert, and Steve Jobs, an extrovert, established Apple with their combined assets. Jobs’ charisma and power of expression worked wonders in bringing Wozniak’s ideas into fruition.
Also, for a purely service-based idea, without any tangibility involved no prototype can be presented. Therefore, for such a business it is important to sell the concept to the customers. In such a case, an extrovert would do better.
Introverts might be great at contingency planning but it’s the extroverts who stand out when execution comes into the picture. They can always engage people and provide them the incentives for working thereby, keeping them motivated. The positivity people can derive out of their extrovert counterparts is good enough to strengthen the execution.
Since social recognition acts as a prime incentive in the case of extroverts, they can be found volunteering for multiple jobs and committees with little in common among them. Therefore, where multitasking is concerned, an extrovert is who you search for as they can always be on their toes.
Extroverts have a good comfort level around large groups unlike introverts, making them a better team player. Be it an opening partnership of Tendulkar and Sehwag, or Co-founders like Sachin Bansal and Binny Bansal of Flipkart or the trio of Pankaj Chaddah, Deepinder Goyal, and Gunjan Patidar of Zomato, everyone needs a reliable team to pull a great and successful show. For a venture to run successfully a good team with suave execution is an important pre-requisite.
Carl Jung proposed theory pertaining to cognitive functions and personality types, defining the term extroversion and introversion as we know them today. Both the traits are present in every individual and the dominant trait might vary as per the situation. Hence, it can be said that both extroverts and introverts have their own strengths and weaknesses and can shine as entrepreneurs provided the passion is genuine and the product or service is something that people are actually looking for!