AICC ARUSHA
By Dr. Suma Kaare
ROADMAP
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Founder Mentality
Unique Mentality of Founder
Business Success
Key to start-up/Business Success (Inspiration
from Founders)
– Personality (ability to spot opportunity, turn them to
– Behaviors
• Lessons Learnt
• Conclusion
2
Business Success
But what is Business success?
 Longevity (IKEA 70yrs; Dell 29;Apple
37yrs;Bakhressa 39yrs; Bill Gates; ITV 17yrs;?
 Work force size (IKEA, Dell 103,300 people
worldwide;
 Expansion (geographical, products IKEA 38
countries; TV; Bakhressa 10 countries; Helvetica 3
countries; Amon Cosmetics 3 regions)
 Diverse business portfolio(IKEA, Bakhressa;
Dangote-manufacturing-cement,flour mills; Amon
cosmetics, hospitality)
Business Success
• Net worth (Bakhressa $520M;Helvetica
$8M;Dangote $2.5Billion)
• Repeatability and simplicity of the business
model( Harvard Business School; Oxford etc)
Business Success-Miracle or Man
Made?:
• What made these few business succeed when
evidence show high rate of start up failure: 25%
fail in 1st year and 44% 3rd 71% 10th year
• Personality type (attributes born with maybe
good or bad)
• Behaviors (Optimized good behaviors to
address deficit in personality)
Young Tanzania Millionaire
Personality Type (Visionary ?)
Patrick Ngowi
• Has Vision (sat high goals over ambitious
goals within 5 years must grow Net worth
$50million
• Perseverance (has had ups and downs)
• Ability to spot opportunities and delve in
• Thinks and Acts
• Reliance on mentors (Mama, source of
capital, psychological support)
• A wondering &never satisfied
mind(diversification)
• Strong value s/belies foundation()
• Achiever (never despairs)
Inspiration
Personality type:
Introvert/intellectual/thinkers
• Dangote said: “We are able
to grow the businesses
because we were very
determined, we knew
where we were going and
we had a vision”.
Inspiration
Personality Type:
Reginald Mengi
Influencer?domineering/Socia
l
Unique Mentality of Founder
• Traits/mentality of Founder that lead to
success and what we can learn from these
traits/mentality)
• How we can leverage our understanding of
founders’ traits to succeed in business
Success Generating Mentality
• What all the successful leaders have in common/ behaviors?
1. Hard Work/drive high effort level
2. Able to spot opportunities and delve in them)
3. Visionary –projects ideas into the future
4. Action-takers/executers (doesn’t dwell on Sunday I’ll mentality)
zero tolerance of inactivity
5. Manage Money wisely (Dangote vs IKEA,Steve Jobs)
6. Confident-believing in themselves/emotional stability
7. Chose line of business in rhythm with what they like doing most
8. Well rounded people –have varied abilities
Success Generating Mentality
8. Generous/investors in Humanity (philanthropist;
givers)
9. Value driven (Honest, integrity, )
10. Ethical/principled and stand by them&practice them?
11. High achievers/never satisfied/craving for achieving
higher
12. Trust in others –give power to others as means of
increasing their own power
13. Skilled in getting the best of others
Success Generating Mentality
14. Energetic –physical and mental vitality
/stamina to endure working long; hours at 70
Sam Walton founder of Wal-Mart attended
Saturday morning meetings
15. Perseverance/Positive Thinking
16. Trust expertise
17. Strive for Knowledge of the business
18. Good judgment/high capacity to think
Success Generating Mentality
19. Avoid shortcuts (young female millionaire)
“There are countless opportunities to take
shortcuts, but I would destroy my mission in
life if I took those shortcuts”. The Senegalese
Entrepreneur Selling African Recipes To
Americans
20. Risk Takers
Key questions?
– are traits genetic or learned attributes?
– Are traits necessary to determine type of business
to get in and chances of success?
Are traits genetic or learned
attributes?
• Is it coincident that most of these successful
founders either dropped from school/college
and or started at teen age 14-17yrs
• Yes – for some but those whom these are not
inert they can be learnt by following
successful personality/mentality
Are traits necessary to determine type of
business to get in and chances of success?
• Yes &No
• Yes –understand your personality
• No: Remember you can’t change it/its
fixed/born with attribute BUT
• Behaviors(can change to address deficits in
born with characters
• Can partner/work with other personalities to
strengthen limitations in your
character/mentality
Personality/traits &potential
business
Personality Type
• ENFJ(Extrovert(high);
Introvert Low/Jugdes
Business Type
• Teaching/school/college
• Politician
• Non profit director
Key questions
• How do I know if I have what it takes to be a
successful businessman
– Study successful business leaders
– Do personality tests
– Seek professional advice
– Don’t gamble
Thank you for Listening