Entrepreneurial Style and the Challenges of Low Openness

Low Openness may limit exploration, but often strengthens focus. This article unpacks how a preference for familiar systems shapes entrepreneurial style. It’s a deeper look at how doing things the tried-and-true way can still drive results.

Back

7 mins read

If you have a lower openness score, also known as closedness to experiences, it can be easy to feel discouraged or think that entrepreneurship is not an option. More than that, most people with low openness scores don't even want to become entrepreneurs and may find employee roles more comfortable.

But suppose you are the exception from the statistics and want to pursue the path of entrepreneurship. In that case, this article is here to help. It will address the challenges that come with a lower openness score and guide you in leveraging the unique benefits and strengths that your personality brings to the table. This article will help you confront the obstacles associated with low openness scores and enable you to capitalize on your personality's distinct advantages.

You may also want to read:

How Does Low Openness Score Impact Entrepreneurial Style?

Those with a low openness score follow familiar routines and appreciate traditional business strategies and methods. They approach new territories cautiously rather than taking risks. Their business models rely on consistency, reliability, and proven methods over rapid change or trending strategies. This preference for stability means entrepreneurs of this type make slow adjustments rather than significant shifts, preferring extreme safety to radical transformation.

Entrepreneurs with a low openness score typically establish an organized work environment with clearly outlined roles and expectations. This stability helps ensure that every individual knows their duties precisely, resulting in effective operations and predictable outcomes. Any unexpected turn or turbulent business environment may cause them colossal distress.

People with low openness are more prone to conflicts than those who score high on this trait, which is unsurprising, as they may react strongly to criticism of their established ideas or strategies. Unfortunately, in many cases, businesses of low-openness entrepreneurs may stagnate or even fail, as they are not ready to take risks and face challenges.

Tips for Achieving Success as an Entrepreneur with Low Openness

Navigating the business world with a low openness score can be challenging. Still, in specific business contexts and scenarios, you can enjoy various benefits associated with it. If they are leveraged wisely, you can expect to maximize entrepreneurial performance.

Let's take a look at some advantages coming with a low openness score, as well as tips on how you can use them:

Value Tradition, But Stay Relevant:

The tried and true business methods have been successful for a reason — they work. While it is important to respect these age-old techniques, always pay attention to the market. To remain competitive in a dynamic environment, ensure your offerings are tailored to meet modern customer demands.

Prioritize Detailed Planning:

Given your tendency to carefully weigh decisions before acting, it's a smart move to take the time and develop thorough business plans. This approach can be immensely helpful in determining the direction of your enterprise while simultaneously preparing you for any difficulties that may arise along the way.

Harness the Power of Data:

The digital age has certainly presented a unique opportunity for entrepreneurs with lower levels of openness. By utilizing concrete data and analytics, they can make educated decisions that align with current market trends, even if their initial reaction is unfavorable to a certain idea or innovation.

Stay Curious:

Despite a tendency to be more cautious when trying new approaches, keep an open mind and explore the latest developments in your industry. Read up on relevant topics with journals or online articles, attend seminars where experts discuss key trends, and take advantage of networking opportunities by conversing with colleagues.

Harness the Strength of Routine:

You may not be impulsive or innovative, but you can take advantage of the power that routine has for efficiency. Structuring your days and tasks can boost productivity and get things done in an organized manner.

Entrepreneurs with lower openness bring their special flavor to their business endeavors. The steady, reliable, and practical nature allows them to succeed if they pay attention to the flaws of this personality trait.

Cons of Having Low Openness as an Entrepreneur

Entrepreneurs are renowned for their ability to adapt and think creatively. However, closedness can negatively impact numerous areas associated with entrepreneurship.

Let's take a deeper look at some of the potential drawbacks:

Resistance to Innovation:

The willingness to explore novel ideas is strongly linked to openness and curiosity. Entrepreneurs with low levels of these traits may struggle when it comes to embracing or even noticing cutting-edge concepts, making their businesses less agile and effective in a rapidly changing market environment.

Limited Diversification:

With a less enthusiastic inclination towards trying out new things, there is the danger of keeping too narrow an eye on one's business. As a result, your business may stagnate, and you may lose numerous valuable business opportunities.

Over-Dependency on Past Successes:

Entrepreneurs with low openness may depend too heavily on strategies that have worked in the past, mistakenly believing these will remain successful. This dependency can leave them vulnerable and unprepared for new obstacles or changing conditions.

Difficulty in Crisis Management:

In these times of rapid changes and unexpected crises, adaptability is paramount. That is why entrepreneurs with high openness scores were more effective during the COVID-19 pandemic. Unfortunately, a lower score in openness can impede quick decision-making when things get difficult.

Challenges with Employee Retention:

A stagnant organizational culture or lack of progression can harm employee morale and commitment, particularly if they are looking for new experiences and chances to learn.

Undoubtedly, the entrepreneurial landscape challenges those with a low openness score. But there are always other options available. Corporate management, administration, or operational roles can offer structure and stability that align with closedness traits — providing job satisfaction and an opportunity to grow professionally.

Plus, studies have found that university scholars tend to have lower openness to experience. So, people with this personality trait have many options to choose from.

Famous Entrepreneurs with Low Openness

Though creativity, innovation, and entrepreneurial success are commonly associated with high openness, some famous entrepreneurs are likely to score low in this personality trait. Here are some of them:

Jim Sinegal:

Jim Sinegal, the co-founder of Costco, was committed to a straightforward business model: reducing costs and passing on savings to customers. His dedication resulted in a focus on limited product selection, minimal advertising expenditure, and a no-frills shopping experience.

Carlos Slim:

Once the wealthiest person on Earth, Carlos Slim made his fortune by investing strategically in well-established industries like telecommunications, construction, and mining. Such an approach may indicate that he has a low openness.

Li Ka-Shing:

The legendary Li Ka-Shing, Asia's wealthiest person, is renowned for his careful investments across many industries, from real estate to ports and telecommunications. His investment strategy has been focused on stable cash-generating assets rather than taking risks with speculative ventures, which aligns with the trait of low openness.

John Paulson:

Renowned hedge fund manager John Paulson has made a name for himself with his remarkable strategic insight and skill in identifying lucrative investments. His systematic investment approach relies heavily on analyzing existing market conditions and trends instead of taking risks by exploring untested strategies.

Karl Albrecht:

Karl Albrecht, the co-founder of Aldi, built one of the world's largest supermarket chains by pursuing a no-frills and cost-effective approach. His focus on minimizing costs instead of embracing innovative retail strategies might hint at his lower degree of openness.

Robert Kuok:

As the "Sugar King of Asia," Malaysian business magnate Robert Kuok controlled around 5% of the global sugar market at one point. However, his approach to conducting business demonstrated his strategic foresight and careful management style rather than a more liberal pursuit of novel ideas, indicating a lower level of openness.

Tadashi Yanai:

Tadashi Yanai, the founder and president of Fast Retailing, UNIQLO's parent company, has crafted an expansive retail empire through his commitment to a simple yet practical approach to clothing. His focus on basics and essentials instead of following trend-driven designs may suggest a low score in openness.

To sum up, it is unsurprising that many well-known businesspeople on our list come from Asia, as this region generally has lower openness scores. On the other hand, in Western societies, where creativity and flexibility are usually valued highly, low openness can be an obstacle to achieving success.

Low Openness Businesses and Industries

Statistically speaking, a low openness score can reduce your chances of success in business. However, certain industries and enterprises can suit entrepreneurs with low openness scores. Let's explore some of them.

Logistics and Supply Chain:

This industry revolves around carefully organizing, executing, and monitoring the transportation and stocking of goods. It is an area associated with routine, dependability, and precision. So, entrepreneurs with low openness have the potential to achieve success in logistics.

Agriculture:

The agricultural industry is often characterized by its mundane, monotonous nature and a need for precision. Potential entrepreneurs who prefer routine or structure with tangible results may find this sector to be an ideal fit.

Construction:

Construction is an industry that requires meticulous planning, organized execution, and strict adherence to safety regulations and building codes. Low-openness entrepreneurs might find the construction field especially attractive due to its need for discipline and relative stability.

Maintenance and Cleaning Services:

Businesses focused on routine tasks and emphasizing efficiency and quality of service can be great opportunities for entrepreneurs who don't necessarily prioritize creativity or openness. Starting a maintenance, janitorial, or other cleaning services business could be successful with the right planning and dedication.

Administrative Support:

Businesses providing administrative support services, like data entry, bookkeeping, and office administration, often have a structured work environment with repetitive tasks. For entrepreneurs who aren't particularly open to change or new ideas, starting up and managing an administrative support service could be the perfect opportunity for success.

Wholesale Trade:

Wholesale trade is the perfect fit for entrepreneurs with low openness, requiring routine tasks like inventory management, order processing, and customer relations. It entails selling goods or merchandise to retailers, industries, and other businesses — often involving tedious yet necessary steps to ensure smooth business operation.

Security Services:

Offering security services requires a systematic approach with specific routines and established protocols. Those entrepreneurs who are less inclined towards taking risks or embracing change may find success in starting up and managing their own security business.

To wrap up, although a low openness score might suggest that one prefers the predictability and safety of routine environments, it can also be advantageous in some cases. If you are choosing an entrepreneurial path, make sure it aligns with your strengths. Ensure you start a business in an industry that values structure and consistency more than innovativeness and risk-taking. Alternatively, you should consider freelancing, which might be a better option for those with a lower openness score.