Is It More Difficult to Start a Business as an Extrovert or an Introvert?

Or As Neither of the above?

As a business owner, it can be useful to know if you are an extrovert or an introvert, as each category has its own strengths and weaknesses. Extroverts and introverts approach the starting and scaling of their businesses very differently.

Is it more difficult to start a business as an Extrovert or Introvert?

I never felt comfortable exclusively aligning myself with either the extrovert or the introvert category. When I became an entrepreneur, the discomfort I felt became even more pronounced.

To figure out if it’s easier to start and scale a business as either an extrovert or an introvert, I have listed the strengths and weaknesses of each below. If you feel you are neither, I’d like to introduce you to a third category, the Ambivert.

Extroverted business owners

Strengths

Extroverted business owners excel at building and maintaining a wide network of contacts. This ability to connect with potential clients, partners, investors, and suppliers can open many opportunities for business growth. Extroverted entrepreneurs are often natural leaders who can inspire and motivate their teams. Their enthusiasm and energy can create a positive and dynamic work environment, driving productivity and employee satisfaction. They tend to be personable and approachable, which helps in building strong relationships with customers. Happy customers are more likely to become repeat customers and refer others to the business. Extroverts often have a knack for sales and marketing due to their persuasive and engaging nature. They are comfortable promoting their products or services and can effectively close deals. Their confidence and assertiveness enable them to take risks, make decisions, and handle challenges head-on. They are often decisive and proactive, which is crucial in a fast-paced business environment. Their ability to engage with people helps in building strong teams. They can identify and attract talent, create a cohesive team culture, and ensure that employees are aligned with the business’s goals.

Weaknesses

1. Extroverted business owners may sometimes prioritise social interactions over solitary tasks that require intense focus and concentration. This can lead to neglecting essential behind-the-scenes work, such as strategic planning, detailed analysis, and administrative tasks.
2. Extroverts are inclined to take risks and make quick decisions without fully considering the consequences. This impulsivity can sometimes lead to poorly thought-out strategies or investments that may not pay off.
3. Their enthusiasm for networking and engaging in numerous activities can lead to overcommitment. Extroverted business owners might spread themselves too thin, trying to attend every event, meeting, and opportunity, which can lead to burnout and decreased effectiveness.
4. Extroverts may sometimes dominate conversations and be less attentive listeners. This can hinder their ability to fully understand the needs and perspectives of employees, clients, and partners, potentially leading to misunderstandings and missed opportunities for collaboration.
5. While extroverts excel at building a broad network of connections, these relationships can sometimes be superficial. Without taking the time to deepen these connections, they may miss out on the benefits of strong, trust-based relationships that can provide long-term support and loyalty.

Introverted business owners

Strengths

Introverted business owners tend to be more deliberate in their decision-making. They carefully consider all aspects and potential consequences, which can lead to more strategic and well-thought-out choices. They may develop unique ideas and solutions that give their business a competitive edge. Introverts are often excellent listeners, which can help them understand the needs and concerns of their customers, employees, and partners which can lead to better customer service. Introverts tend to be meticulous and detail-oriented, ensuring that all aspects of their business are well-managed and that their products or services meet high standards of quality. Many introverts excel in written communication, which is essential for creating effective marketing materials, clear business plans, and engaging online content. Introverts often prefer quality over quantity when it comes to social interactions. They build deep, meaningful relationships with customers, employees, and partners, leading to long-term loyalty and trust.

Weaknesses

1. Introverted business owners might find large social gatherings and networking events overwhelming, potentially missing out on valuable opportunities to connect with potential clients, partners, and investors. This can limit their ability to expand their business network.
2. Introverts often feel uncomfortable with self-promotion and public speaking. This can hinder their ability to market their business, pitch ideas to investors, or represent their company at events, leading to reduced visibility and growth opportunities.
3. Introverts may spend excessive time analysing and reflecting on decisions, leading to delays in taking action. This overthinking can result in missed opportunities and slower business growth.
4. Introverted business owners might struggle to delegate tasks, preferring to handle things themselves. This can lead to a totally overwhelming workload and prevent them from focusing on strategic, high-level responsibilities essential for business growth.
5. While introverts excel at deep, one-on-one interactions, they may find it challenging to engage and motivate groups of customers. This can result in a substantial loss of revenue.

What if you don’t identify as either an Extrovert or an Introvert?

Recently a third category has been identified: the ambiverts.

Ambiverted Business Owners

Strengths

Ambiverts, who exhibit traits of both extroversion and introversion, possess a balanced personality that allows them to adapt to different situations. This flexibility can be a significant asset for small business owners. Ambiverts can adjust their behaviour according to the demands of the situation. They can listen attentively like introverts and also articulate their ideas effectively like extroverts. Ambiverts can empathise with different personality types, making them adept at understanding and responding to the needs and concerns of both extroverted and introverted customers. They can thrive in both large social gatherings and one-on-one interactions, making them effective in various networking and relationship-building scenarios. Ambivert business owners can adapt their leadership style to fit the needs of their team. They can be assertive and take charge when needed, but also step back and allow others to lead when appropriate. Ambiverts are often comfortable taking calculated risks. They can combine the extrovert’s willingness to take action with the introvert’s caution and thoughtfulness, leading to more balanced risk management. Ambiverts can blend long-term strategic planning with short-term tactical actions. They can set a clear vision and take the necessary steps to realise it. Their ability to draw on the strengths of both personality types makes them resilient and resourceful.

Weaknesses

1. Ambiverts can sometimes struggle with inconsistency in their behaviour. They might swing between being highly social and needing solitude, which can confuse customers and team members.
2. Because ambiverts can see both sides of an issue, they might be indecisive. This ability to empathise with multiple perspectives can lead to overanalysing and delays in making critical business decisions.
3. While ambiverts can thrive in both social and solitary settings, they might have difficulty finding the right balance. They might overextend themselves socially or become too withdrawn, potentially neglecting important aspects of their business.
4. Ambiverts might face challenges in defining their role within their business. Their ability to switch between extroverted and introverted behaviours can make it hard to establish a clear and consistent leadership identity, which can lead to confusion among both customers and employees.
5. Ambiverts need to manage their energy levels carefully. Switching between social interactions and solitary tasks can be draining, and they might struggle to maintain optimal productivity and focus throughout the day.

As you can see, the strengths and weaknesses of each category are unique.

As an entrepreneur, knowing whether you are an extrovert, introvert, or ambivert can be of significant benefit because it allows you to leverage your inherent strengths and address your potential weaknesses. Extroverts can harness their networking skills enabling them to build strong relationships while being mindful of the need for thoughtful decision-making. Introverts can capitalise on their analytical and reflective abilities to create well-thought-out strategies and high-quality work, while pushing themselves to engage more in networking and self-promotion. Ambiverts can use their versatility to adapt to various situations, striking a balance between social interaction and solitary work, but should remain aware of the need for consistency and clear decision-making.

By understanding your unique traits, you can tailor your strategies, adjust your approach to maximise your impact and income and create a more effective, harmonious work environment.

Knowing your strengths and weaknesses, how can you change your approach to your business?