The conscious knowledge of being in touch with one’s own reality; knowing their own strengths and weaknesses, what triggers them, what calms them, what motivates them and how their actions affect others around them is self-awareness.
Not only for business or work but also for a healthy mind and healthy relationships, self-awareness is a great attribute to have.
Self-awareness in entrepreneurship is more important, and it isn’t stressed enough by people. Creativity, foresight, and resilience are obvious musts when starting a business, but understanding what really drives you and how your motivation affects your employees can elevate your performance as a whole.
Let’s have a look at some of the reasons why entrepreneurs need self-awareness.
Before starting a business, there are certain questions one needs to ask themselves. Are they ready to take on the challenge of long hours, no stable income, the risk of failing, financial conundrums and making difficult decisions? This exercise is part of self-awareness, of knowing if one is capable of taking these risks without a total burnout and if entrepreneurship is for them at all!
Knowing one’s vision, the reason they want to become an entrepreneur is something they need to have answered before they start or lose focus from their goals. Losing focus can lead to an uninspiring boss, and that isn’t something anyone aspires to be.
Being aware of one’s weaknesses is yet another understated attribute. Knowing the skills one lacks or areas where one needs to improve so that one can be a better leader, will always go a long way in keeping one’s team happy and motivated to give their best. Also, when it comes to hiring recruits or expanding the team, it helps to know one’s own skill gaps that can be filled by the new employees rather than hiring people with the same skill set or strengths as themselves.
Most people are well-versed with their own strengths, however, as an entrepreneur, it takes a little more than just being aware of them, and one needs to really leverage them for a greater impact on the entire team.
All businesses thrive on sales and one’s ability of selling, starting from the idea to the finished product, including the part where you hire new employees. An entrepreneur needs to be aware of how strong his sales pitches are, how the buyer perceives them. One needs to make sure they neither come on too strong nor seem like they lack confidence. To find the perfect balance, being self-aware of how one comes across to others can be extremely helpful. Building a rapport before making a pitch goes a long way in establishing a life-long trust and aids in better sales.
Last but not least, self-awareness in terms of knowing the limits to which one can push themselves mentally and physically is as important. Listening to one’s body and giving it a break before reaching its breaking point cannot be stressed enough.
It may not be one of the most obvious aspects to consider when taking off on a journey of entrepreneurship. Still, self-awareness holds as much importance in determining the success of an enterprise as much as creativity and capital!