Harnessing Only the Positive Powers of Narcissistic Behaviors
Sumit Pathak
Investment Strategist | Growth Catalyst | Strategist | Transformation Specialist | Industry Thought Leader
#Narcissism is generally perceived as a negative trait characterized by an inflated sense of self-importance, a need for admiration, and a lack of empathy for others. However, recent research has shown that there are certain circumstances wherein?#narcissism can have beneficial effects, particularly in the world of #entrepreneurship.
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#Entrepreneurs are individuals who take on financial and personal risks to start and run businesses. They are often characterized by a strong sense of #selfBelief, a willingness to experiment,?and a?#determination to succeed. These traits are also commonly associated with narcissism, leading some researchers to suggest that there may be a link between #narcissism and entrepreneurship. Being a second-generation entrepreneur, I have observed that many entrepreneurs coming from an earlier generation exhibit similar traits.
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Narcissists tend to be #HighlyCreative?and are often able to come up with innovative solutions to problems. This creativity is fueled by their self-confidence, which allows them to believe in their ability to create something new and different, often leading to first-gen entrepreneurs setting up successful high-value companies. As a second-gen entrepreneur, I feel the constant need to conjure new ideas to be competitive in general.
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Having a high tolerance for risk, narcissists believe that they are #invincible and can handle whatever comes their way. This allows them to take bold steps and make decisions that others might shy away from. In the world of #entrepreneurship, taking calculated risks is often essential for success, be it from investing in new technologies, hiring new employees, or entering new markets.
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It goes without saying, but I still will say it for clarity, #narcissism also comes with a host of negatives that can easily overshadow the positives. Narcissists suffer from a lack of empathy for others, which often leads to negative interpersonal relationships and difficulty in working with others. They are also prone to taking unnecessary risks, often causing failures and financial losses. False bravado and overconfidence can lead to a lack of self-awareness, which can prevent entrepreneurs from learning from mistakes and adapting to changing circumstances.
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The idea of #narcissism being #beneficial and having any positives may seem counter-intuitive. However, some characteristics exhibited by narcissists can help entrepreneurs succeed in their ventures. It is a matter of learning the right traits and shunning those that are not. For example:
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#Confidence and #Self-Belief
#Entrepreneurship requires confidence! Entrepreneurs take risks, make decisions, and unquestioningly believe in themselves and their vision. Narcissists have an abundance of self-confidence and self-belief, which can help them to achieve their goals.
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An entrepreneur can learn to master the fear that comes with taking risks. Like narcissists, entrepreneurs should strive to pursue their goals with determination, dogged persistence, and an unwavering belief in their abilities. Facing #adversity with confidence is what sets them apart!
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Entrepreneurs often lead teams and manage employees. Narcissists tend to have strong leadership skills, as they are not afraid to take charge and make decisions. They are also more likely to be charismatic and persuasive, which can help them to #inspire and motivate their team.
Entrepreneurs can learn to be decisive and take charge of teams even if they delegate most tasks. Unlike narcissists, entrepreneurs can also elicit feedback from the team and augment their decisive action to enhance the team's input to further increase the chances of a successful decision being made.
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Networking is a mainstay of the entrepreneurship ecosystem. This is how we entrepreneurs make #connections and find #NewOpportunities. Narcissists tend to be very good at networking, as they are not afraid to approach others and make connections. The #SelfPromotion aspect of narcissists can be great for attracting investors and partners but should also be followed up with facts, figures, and the truth; something narcissists often avoid to get their way.
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Entrepreneurship is all about innovation and creativity. Narcissists tend to be very creative, as they have a strong desire to be unique and stand out from the crowd. They are also more likely to take risks and think outside the box. Sounds like they are designed to generate innovative ideas and solutions. Without adequate and targeted delegation, however, it often remains a delusion of grandeur.
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Like narcissists, entrepreneurs should master identifying opportunities and trends. Pursuing unconventional, bleeding-edge, and disruptive innovations should become a mainstay of the entrepreneur's risk appetite.
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As I mentioned before, the negatives of a narcissist's behavioral palette can be overwhelming and counter-productive to the aforementioned positives. Enumerating them is an exercise in knowing what NOT to do and how NOT to behave. Oftentimes, that ends up being the more effective lesson overall.
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Remain a narcissist and suffer from chronic lack of empathy, disjointed and demotivational leadership, eminent lack of compromise, and complete lack of introspection and mistakes made. So, yes, not a walk in the park.
So what should you take away from narcissists that will enhance your entrepreneurial journey?
Narcissistic individuals often have a grandiose vision of themselves and their abilities. Entrepreneurs must create businesses that are game-changers with the potential to disrupt entire industries.
2. #Charisma
Narcissists are often charismatic and can be skilled at selling themselves and their ideas to others. This can be an asset for entrepreneurs, who need to be able to convince others to invest in their business, join their team, or buy their products or services.
3. #RiskTaking
Taking risks and making bold decisions are strong traits in narcissistic individuals. This can be an asset in entrepreneurship, where calculated risk-taking is essential.
4. #Resilience
Narcissistic individuals often have a strong sense of resilience and can bounce back quickly from setbacks. A high level of resilience can help entrepreneurs stay focused on their goals and overcome obstacles.
Of course, entrepreneurs must keep away from certain #NegativeNarcissistic traits such as being overly focused on themselves and their goals, lacking empathy for others, not considering the personal aspects of any business venture, etc.
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In the end, it's all about #discernment. #Assimilating the good, #discarding the bad.
Entrepreneurs must strike a balance between self-confidence and humility and focus on building a strong team and a positive #company #culture. This can help to mitigate the negative effects of #narcissism and create a successful and sustainable business.
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#SteveJobs was known for his narcissistic tendencies but also for his visionary thinking and ability to persuade and influence others. However, his lack of empathy and difficulty with #teamwork led to conflicts and high turnover rates within Apple. On the other hand, entrepreneurs like Richard Branson and Tony Hsieh are famous for their strong team-building skills and focus on creating a positive company culture.
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So, as entrepreneurs driving for continuous growth, let's take a leaf out of the narcissist's book while leaving the rest of the book on the table.
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