LifeTime Journal

Four traits everyone in a hypergrowth startup should have

Do you believe you can do the things you do? Do you believe you can achieve great things? Of course, a startup’s success is determined by the product, strategy and cooperations. But an other key aspect defining success are its employees and their beliefs. Following the Learn → Think → Apply methodology, everyone in a startup needs to understand and apply the fundamentals of self-efficacy. Self-efficacy is defined as the strength of one’s belief in one’s own ability to succeed in tasks and reach goals.

Mahatma Gandhi once said:

If I have the belief that I can do it, I shall surely acquire the capacity to do it even if I may not have it at the beginning.

Albert Bandura, President of the American Psychological Association, studied the concept of self-efficacy in depth. He stated, that “performance and motivation are in part determined by how effective people believe they can be”. Thus, not only actual knowledge and capabilities, but also the belief in oneself determines the individual’s success. Besides applying the following four behaviors to all team members of a startup, all C-Levels should truely embrace all of them:

  1. Performance Outcomes: If one has performed well at previous tasks, he or she is more likely to feel competent for future tasks.
  2. Vicarious Experiences: Watching someone else performing well enables people to believe they can do it too.
  3. Verbal Persuasion: The spoken word is a powerful tool. Using the imperative “we will achieve great things” compared to “We could achieve great things” speaks for itself.
  4. Physiological Feedback: Exposing oneself — e.g speaking in front of important people or performing on a big stage — puts our autonomous nervous system in fight & flight mode. People who experienced success in this kind of situation feel more capable and have higher belief of self-efficacy.

The key takeaway of this post is: the best talent is not only very skilled, but also curious to continuously acquire new skills. No one knows the future and that is the biggest competitive advantage of people who shape the future.

Dr. Johannes Jacubeit